Oakley, Illinois, is a small, unincorporated community in Oakley Township, Macon County, located approximately 8 miles east-northeast of Decatur along the Norfolk Southern Railway. Once a bustling rural hub with two stores, a blacksmith shop, a passenger rail station, a school, a church, a lighted baseball field, and a post office, Oakley is now a quiet village with no commercial district. The church and former post office still stand but have been repurposed for residential use, while Clarkson Grain operates a grain elevator in the area. Surrounded by fertile farmland and drained by the Sangamon River, Oakley offers a tranquil, agricultural lifestyle, with a population of about 700 as of 2020, served by the nearby Cerro Gordo Community Unit School District 100.

Oakley currently has 1 single family home for sale with a list price of $469,900. The average annual property tax for Oakley is $6,349.35.