Illinois Route 121 passes through the village, leading southeast 5 miles (8 km) to Greenup.

According to the 2010 census, Toledo has a total area of 0.91 square miles (2.36 km2), all land.

31.36% of all households were made up of individuals, and 22.67% had someone living alone who was 65 years of age or older.

Toledo is home to Cumberland Community Unit School District 77.

The elementary, middle, and high school are located in Toledo.