Commercial Real Estate Market in Tolono, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
5 active listings and 75 off-market properties in Tolono, IL.
Market Trends
Tolono, IL spans 61.8 square miles in Champaign County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Tolono, 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 Tolono, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Tolono, 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 Tolono, 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 44.7%
- Agricultural 44.3%
- Civic 5.8%
- Commercial 3.1%
- Industrial 2%
Largest Zones share of zoned land by district
Agriculture
Residential
Residential Suburban
Public Land
Commercial Neighborhood
Agriculture (AG-1)
Agricultural District AG-1 154.060 Purpose 154.061 Use regulations 154.062 Development and performance standards 154.063 Provisional use development and performance standards 154.064 Special use development and performance standards Residential Suburban District RS 154.070 Purpose 154.071 Use regulations 154.072 Development and performance standards 154.073…
Market overview
Demographics & Economy
Tolono, IL has 4,317 residents in 1,894 households. Density runs 70 people per square mile. Median household income here is $89,139 and median gross rent $881 a month.
4,317
Population
1,894
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
100%
High-School Grad
61.8 sq mi
ZIP Area
70
Density / Sq Mi
$89,139
Median Household Income
$48,330
Median Earnings
$881
Median Rent
$227,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Pesotum | — | — |
| Savoy | — | — |
| Sadorus | — | — |
| Philo | — | — |
Commercial property in Tolono, IL asks $463/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Tolono?
Commercial property in Tolono, IL asks an average of $463 per square foot.
Where does Realmo's Tolono market data come from?
Realmo compiles Tolono, IL figures from 5 recent recorded sales, 5 active sale listings, 75 tracked off-market properties, the current Tolono zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 5 active for-sale and 0 active for-lease listings in Tolono, 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: 1,399 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
