Commercial Real Estate Market in Salem, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
12 active listings and 545 off-market properties in Salem, IL.
Market Trends
Salem, IL spans 99.2 square miles in Marion County, Illinois. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Salem, IL has a median asking sale price of $71/SF (based on 3 listings). Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Salem, IL has a median asking sale price of $107/SF (based on 3 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Salem, 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%.
Multifamily
Multifamily vacancy in Salem, 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 40.1%
- Industrial 31.6%
- Commercial 13.9%
Largest Zones share of zoned land by district
Salem, IL zones 4,409 acres across 14 districts. Commercial zoning covers 13.9% of zoned land, residential 40.1% and industrial 31.6%. The largest single district is Industrial at 31.3%. For commercial buyers the practical constraint is that only 45.5% of land carries a commercial or industrial designation.
The I Industrial District is intended to provide for areas where light industry, research facilities, warehouses, and wholesale businesses may locate without detriment to the remainder of the community. In these areas a satisfactory correlation of factors required by such uses exists or can be readily achieved.
Market overview
Demographics & Economy
Salem, IL has 11,053 residents in 5,032 households. Density runs 111 people per square mile. Median household income here is $69,025 and median gross rent $750 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Salem?
What zoning applies to commercial property in Salem?
Where does Realmo's Salem market data come from?
Methodology & data sources
- Asking prices and medians
- There are 9 active for-sale and 3 active for-lease listings in Salem, IL. The sale median is based on 6 of the for-sale listings that state a price per square foot; too few for-lease listings state a rent per square foot for a rent median. 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: 4,409 zoned acres across 14 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
