In this letter, we provide an asymptotic error rate performance evaluation of space-time block codes from coordinate interleaved orthogonal designs (STBCs-CIODs), especially in shadowed Rayleigh fading channels. By evaluating a simplified probability density function (PDF) of Rayleigh and Rayleigh-lognormal channels affecting the STBC-CIOD system, we derive an accurate closed-form approximation for the tight upper and lower bounds on the symbol error rate (SER). We show that shadowing asymptotically affects coding gain only, and conclude that an increase in diversity order under shadowing causes slower convergence to asymptotic bound due to the relatively larger loss of coding gain. By comparing the derived formulas and Monte-Carlo simulations, we validate the accuracy of the theoretical results.