Commercial Real Estate Market in Urbana, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
121 active listings and 1,320 off-market properties in Urbana, IL. Commercial property asks $122/SF to buy and $17.00/SF/Yr to lease.
Market Trends
Urbana, IL spans 87.5 square miles in Champaign County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Urbana, 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 Urbana, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Urbana, 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 Urbana, 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 47.4%
- Open space 18.6%
- Industrial 16.5%
- Commercial 11.2%
- Agricultural 3%
- Planned_development 1.9%
- Civic 1%
- Mixed use 0.3%
Largest Zones share of zoned land by district
Conservation Recreation Education
Single Family Residential
Single And Two Family Residential
Light Industrial Office
General Business
Urbana, IL zones 6,327 acres across 26 districts. Commercial zoning covers 11.2% of zoned land, residential 47.4%, open space 18.6% and industrial 16.5%. The largest single district is Conservation Recreation Education at 18.6%. For commercial buyers the practical constraint is that only 27.8% of land carries a commercial or industrial designation.
Conservation Recreation Education (CRE)
The CRE, Conservation-Recreation-Education District is intended to conserve natural and scenic areas for open space, recreational, and educational purposes, both public and private, and to preserve from unsuitable uses natural surface drainage courses and other areas whose physical characteristics, such as slope or susceptibility to flooding, make many forms…
Market overview
Demographics & Economy
Urbana, IL has 47,118 residents in 23,534 households. Density runs 539 people per square mile. Median household income here is $46,472 and median gross rent $969 a month.
47,118
Population
23,534
Households
2
Avg Household Size
29
Median Age
54%
College-Educated
95%
High-School Grad
87.5 sq mi
ZIP Area
539
Density / Sq Mi
$46,472
Median Household Income
$32,261
Median Earnings
$969
Median Rent
$173,386
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Champaign | — | $25.70 |
| Savoy | — | — |
| Philo | — | — |
| Bondville | — | — |
Commercial property in Urbana, IL asks $122/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Urbana?
Commercial property in Urbana, IL asks an average of $122 per square foot.
How much does it cost to lease commercial space in Urbana?
Asking lease rates in Urbana, IL average $17.00 per square foot per year.
What zoning applies to commercial property in Urbana?
Urbana, IL zones 6,327 acres across 26 districts, of which 11.2% is commercial and 16.5% industrial. The largest single district is Conservation Recreation Education at 18.6% of zoned land. The CRE, Conservation-Recreation-Education District is intended to conserve natural and scenic areas for open space, recreational, and educational purposes, both public and private, and to preserve from unsuitable uses natural surface drainage courses and other areas whose physical characteristics, such as slope or susceptibility to flooding, make many forms… Residential zoning covers 47.4% and open space 18.6%.
Where does Realmo's Urbana market data come from?
Realmo compiles Urbana, IL figures from 8 recent recorded sales, 108 active sale listings, 13 active lease listings, 1,320 tracked off-market properties, the current Urbana zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 108 active for-sale and 13 active for-lease listings in Urbana, 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: 6,327 zoned acres across 26 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
