Commercial Real Estate Market in Washington, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
68 active listings and 763 off-market properties in Washington, IL. Commercial property asks $1,515/SF to buy and $77.17/SF/Yr to lease.
Market Trends
Washington, IL spans 53.5 square miles in Tazewell County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Washington, 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 Washington, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Washington, 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 Washington, 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 68%
- Commercial 14.4%
- Agricultural 13.2%
- Industrial 4.4%
Largest Zones share of zoned land by district
1 And 2 Family Residential
Agriculture
Single Family Residential
Service Retail
Multifamily Residential
Washington, IL zones 4,792 acres across 10 districts. Commercial zoning covers 14.4% of zoned land, residential 68% and industrial 4.4%. The largest single district is 1 And 2 Family Residential at 44.9%. For commercial buyers the practical constraint is that only 18.8% of land carries a commercial or industrial designation.
Agriculture (AG-1)
All solar gardens shall comply with all other state requirements. (Ord. No. 3562, § 7, 12-2-2024) Sec. 56-492. - Commercial/large-scale solar farm. Commercial/large-scale solar farms may be allowed by special use in the AG-1 Agriculture and I-2 Heavy Industrial Districts. The following information shall also be submitted as part of an application for a comme…
Market overview
Demographics & Economy
Washington, IL has 24,766 residents in 10,273 households. Density runs 463 people per square mile. Median household income here is $87,852 and median gross rent $996 a month.
24,766
Population
10,273
Households
2.4
Avg Household Size
40
Median Age
38%
College-Educated
98%
High-School Grad
53.5 sq mi
ZIP Area
463
Density / Sq Mi
$87,852
Median Household Income
$48,329
Median Earnings
$996
Median Rent
$200,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Beverly Manor | — | — |
| Germantown Hills | — | — |
| Mayfair | — | — |
| Deer Creek | — | — |
Commercial property in Washington, IL asks $1,515/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Washington?
Commercial property in Washington, IL asks an average of $1,515 per square foot. The 4 most recent recorded sales traded at a median of $321/SF, so asking sits 372% above the achieved median.
How much does it cost to lease commercial space in Washington?
Asking lease rates in Washington, IL average $77.17 per square foot per year.
What zoning applies to commercial property in Washington?
Washington, IL zones 4,792 acres across 10 districts, of which 14.4% is commercial and 4.4% industrial. The largest single district is 1 And 2 Family Residential at 44.9% of zoned land. Residential zoning covers 68% and open space 0%.
Where does Realmo's Washington market data come from?
Realmo compiles Washington, IL figures from 7 recent recorded sales, 59 active sale listings, 9 active lease listings, 763 tracked off-market properties, the current Washington zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 59 active for-sale and 9 active for-lease listings in Washington, 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: 4,792 zoned acres across 10 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, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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
