Commercial Real Estate Market in Pekin, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
50 active listings and 1,829 off-market properties in Pekin, IL. Commercial property asks $51/SF to buy and $13.00/SF/Yr to lease (based on 4 listings).
Market Trends
Pekin, IL spans 73.8 square miles in Tazewell County, Illinois. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Pekin, IL has a median asking sale price of $55/SF (based on 7 listings). Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Pekin, IL has a median asking sale price of $42/SF (based on 4 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial space in Pekin, IL has a median asking sale price of $40/SF (based on 4 listings). Vacancy runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Multifamily
Multifamily vacancy in Pekin, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
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
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.
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.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Pekin?
How much does it cost to lease commercial space in Pekin?
What zoning applies to commercial property in Pekin?
Where does Realmo's Pekin market data come from?
Methodology & data sources
- Asking prices and medians
- There are 35 active for-sale and 15 active for-lease listings in Pekin, IL. The medians are based on 12 of the for-sale and 4 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
