Commercial Real Estate Market in Pekin, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
87 active listings and 1,829 off-market properties in Pekin, IL. Commercial property asks $111/SF to buy and $31.79/SF/Yr to lease.
Market Trends
Pekin, IL spans 73.8 square miles in Tazewell County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Pekin, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Pekin, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Pekin, IL runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Pekin, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 46.8%
- Agricultural 22.3%
- Industrial 15.6%
- Commercial 12.4%
- Planned_development 2.8%
- Open space 0.1%
Largest Zones share of zoned land by district
Agriculture
One Family Residential 4
One Family Residential 2
Light Industrial
General Business
Pekin, IL zones 8,971 acres across 18 districts. Commercial zoning covers 12.4% of zoned land, residential 46.8%, open space 0.1% and industrial 15.6%. The largest single district is Agriculture at 22.3%. For commercial buyers the practical constraint is that only 28% of land carries a commercial or industrial designation.
Agriculture (AG)
This districts is designed to accommodate agricultural uses
Market overview
Demographics & Economy
Pekin, IL has 40,854 residents in 18,788 households. Density runs 554 people per square mile. Median household income here is $62,484 and median gross rent $814 a month.
40,854
Population
18,788
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
90%
High-School Grad
73.8 sq mi
ZIP Area
554
Density / Sq Mi
$62,484
Median Household Income
$41,718
Median Earnings
$814
Median Rent
$123,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Schaeferville | — | — |
| Hollis | — | — |
| North Pekin | — | — |
| Midway | — | — |
Commercial property in Pekin, IL asks $111/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Pekin?
Commercial property in Pekin, IL asks an average of $111 per square foot. The 8 most recent recorded sales traded at a median of $163/SF.
How much does it cost to lease commercial space in Pekin?
Asking lease rates in Pekin, IL average $31.79 per square foot per year.
What zoning applies to commercial property in Pekin?
Pekin, IL zones 8,971 acres across 18 districts, of which 12.4% is commercial and 15.6% industrial. The largest single district is Agriculture at 22.3% of zoned land. This districts is designed to accommodate agricultural uses Residential zoning covers 46.8% and open space 0.1%.
Where does Realmo's Pekin market data come from?
Realmo compiles Pekin, IL figures from 8 recent recorded sales, 74 active sale listings, 13 active lease listings, 1,829 tracked off-market properties, the current Pekin zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 74 active for-sale and 13 active for-lease listings in Pekin, IL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 8,971 zoned acres across 18 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
