Commercial Real Estate Market in Petersburg, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
24 active listings and 266 off-market properties in Petersburg, IL.
Market Trends
Petersburg, IL spans 115.0 square miles in Menard County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Petersburg, 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 Petersburg, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Petersburg, 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 Petersburg, 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 68%
- Commercial 8.5%
- Agricultural 7.2%
- Open space 5.9%
- Special 5.2%
- Industrial 2.1%
Largest Zones share of zoned land by district
Low Density Residential
Business And Commercial
Agricultural
Recreational
Flood Plain
Petersburg, IL zones 1,063 acres across 11 districts. Commercial zoning covers 8.5% of zoned land, residential 68%, open space 5.9% and industrial 2.1%. The largest single district is Low Density Residential at 61.2%. For commercial buyers the practical constraint is that only 10.6% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Petersburg, IL has 6,044 residents in 2,812 households. Density runs 53 people per square mile. Median household income here is $78,327 and median gross rent $686 a month.
6,044
Population
2,812
Households
2.1
Avg Household Size
46
Median Age
29%
College-Educated
93%
High-School Grad
115 sq mi
ZIP Area
53
Density / Sq Mi
$78,327
Median Household Income
$45,465
Median Earnings
$686
Median Rent
$192,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Atterberry | — | — |
| Tice | — | — |
| Greenview | — | — |
| Oakford | — | — |
Commercial property in Petersburg, IL asks $1,731/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Petersburg?
Commercial property in Petersburg, IL asks an average of $1,731 per square foot.
What zoning applies to commercial property in Petersburg?
Petersburg, IL zones 1,063 acres across 11 districts, of which 8.5% is commercial and 2.1% industrial. The largest single district is Low Density Residential at 61.2% of zoned land. Residential zoning covers 68% and open space 5.9%.
Where does Realmo's Petersburg market data come from?
Realmo compiles Petersburg, IL figures from 24 active sale listings, 266 tracked off-market properties, the current Petersburg zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 24 active for-sale and 0 active for-lease listings in Petersburg, 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: 1,063 zoned acres across 11 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
