Colfax, Illinois, is a small village in McLean County, founded in 1880 by James E. Wood, affectionately known as "Uncle Billy" to locals. With a population of 996 as of the 2020 census, it serves as a quiet, close-knit community within the Bloomington-Normal Metropolitan Statistical Area. The village was established with the arrival of the Clinton, Bloomington, and Northwestern Railroad, which spurred rapid growth, including a tile factory, cigar factory, and the Colfax Leader newspaper by 1888. Today, Colfax is the commercial hub for surrounding towns like Anchor and Cooksville, featuring Ridgeview School District, four churches, a bank, and local businesses such as Colfax Lanes and GD Grocery Store.

Colfax currently has 6 single family homes for sale with an average list price of $261,483.33. The average annual property tax for Colfax is $2,870.67.