Commercial Real Estate Market in Sullivan, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
7 active listings and 332 off-market properties in Sullivan, IL.
Market Trends
Sullivan, IL spans 132.1 square miles in Moultrie County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Sullivan, 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 Sullivan, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Sullivan, 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 Sullivan, 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 64.9%
- Industrial 24.4%
- Commercial 8.6%
- Agricultural 1.4%
- Civic 0.7%
Largest Zones share of zoned land by district
Low Density Residence District
Light Industrial
High Density Residence District
Low Density Business District
Medium Density Residence District
Sullivan, IL zones 1,526 acres across 8 districts. Commercial zoning covers 8.6% of zoned land, residential 64.9% and industrial 24.4%. The largest single district is Low Density Residence District at 40.4%. For commercial buyers the practical constraint is that only 33% of land carries a commercial or industrial designation.
Low Density Residence District (R-1)
This district is designed and intended to provide for single-family residences on relatively large lots to permit spacious development with modern safety standards, as well as compatible low density non-residential uses.
Market overview
Demographics & Economy
Sullivan, IL has 8,057 residents in 3,169 households. Density runs 61 people per square mile. Median household income here is $75,234 and median gross rent $793 a month.
8,057
Population
3,169
Households
2.5
Avg Household Size
42
Median Age
22%
College-Educated
88%
High-School Grad
132.1 sq mi
ZIP Area
61
Density / Sq Mi
$75,234
Median Household Income
$42,513
Median Earnings
$793
Median Rent
$136,400
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Allenville | — | — |
| Kirksville | — | — |
| Cadwell | — | — |
| Gays | — | — |
Commercial property in Sullivan, IL asks $21/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Sullivan?
Commercial property in Sullivan, IL asks an average of $21 per square foot. The 4 most recent recorded sales traded at a median of $54/SF.
What zoning applies to commercial property in Sullivan?
Sullivan, IL zones 1,526 acres across 8 districts, of which 8.6% is commercial and 24.4% industrial. The largest single district is Low Density Residence District at 40.4% of zoned land. This district is designed and intended to provide for single-family residences on relatively large lots to permit spacious development with modern safety standards, as well as compatible low density non-residential uses. Residential zoning covers 64.9% and open space 0%.
Where does Realmo's Sullivan market data come from?
Realmo compiles Sullivan, IL figures from 6 recent recorded sales, 7 active sale listings, 332 tracked off-market properties, the current Sullivan zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 7 active for-sale and 0 active for-lease listings in Sullivan, 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: 1,526 zoned acres across 8 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
