Commercial Real Estate Market in Springfield, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
297 active listings and 8,741 off-market properties in Springfield, IL. Commercial property asks $77/SF to buy (based on 8 listings) and $16.00/SF/Yr to lease (based on 6 listings).
Market Trends
Springfield, IL spans 139.6 square miles in Sangamon County, Illinois. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Springfield, IL has a median asking sale price of $76/SF (based on 3 listings). Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Springfield, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Springfield, 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 Springfield, 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 67.4%
- Industrial 13.8%
- Commercial 8.2%
- Mixed use 2.4%
- Planned_development 2.2%
- Special 0.1%
Largest Zones share of zoned land by district
Springfield, IL zones 35,818 acres across 22 districts. Commercial zoning covers 8.2% of zoned land, residential 67.4% and industrial 13.8%. The largest single district is Single Family Residence District at 48.8%. For commercial buyers the practical constraint is that only 22% of land carries a commercial or industrial designation.
The intent of this zone is to accommodate Single family residence district
Market overview
Demographics & Economy
Springfield, IL has 138,293 residents in 69,515 households. Density runs 991 people per square mile. Median household income here is $69,821 and median gross rent $978 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Springfield?
How much does it cost to lease commercial space in Springfield?
What zoning applies to commercial property in Springfield?
Where does Realmo's Springfield market data come from?
Methodology & data sources
- Asking prices and medians
- There are 149 active for-sale and 148 active for-lease listings in Springfield, IL. The medians are based on 8 of the for-sale and 6 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: 35,818 zoned acres across 22 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
