Commercial Real Estate Market in Illinois
Illinois has 8,948 active for-sale listings and 6,999 active for-lease listings. Statewide, the median asking price is $124/SF and the median asking rent is $18.00/SF/Yr as of November 2026. Realmo tracks 148 city markets here; among the 32 with enough listings to rank, median asking prices range from $42/SF in Freeport to $263/SF in Naperville.
- Median asking price
- $124/SF
- Median asking rent
- $18.00/SF/Yr
- For-sale listings
- 8,948
- For-lease listings
- 6,999
- City markets
- 148
Highest- and Lowest-Priced Markets
Asking prices vary across Illinois: the median in Naperville is $263/SF, 6.2x the $42/SF median in Freeport. The figures below are median asking prices from live listings, not closed sales.
Asking Prices
The highest median asking prices are in Naperville at $263/SF, Plainfield at $225/SF and Orland Park at $203/SF. The lowest median asking prices are in Freeport at $42/SF, Rock Island at $46/SF and Pekin at $51/SF. 16 of 32 ranked markets have median asking prices above the statewide $124/SF.
Asking Rents
The highest median asking rents are in Mokena at $32.00/SF/Yr, Bensenville at $25.00/SF/Yr and Chicago at $24.00/SF/Yr. The lowest median asking rents are in Peoria at $12.00/SF/Yr, Moline at $12.00/SF/Yr and Waukegan at $13.00/SF/Yr. 12 of 26 ranked markets have median asking rents above the statewide $18.00/SF/Yr.
Illinois vs. Neighboring States
The median asking price in Illinois is $124/SF, above the $112/SF median of its 5 neighboring states. By median asking price, the state is the highest of the 6 in the group. The median asking rent is $18.00/SF/Yr, compared with $14.18/SF/Yr in Missouri, $16.00/SF/Yr in Indiana and $15.00/SF/Yr in Wisconsin next door. The statewide median asking price is below the U.S. median of $178/SF.
| State | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr | For-Sale Listings | For-Lease Listings |
|---|---|---|---|---|
| Illinois | $124 | $18.00 | 8,948 | 6,999 |
| Indiana | $100 | $16.00 | 4,591 | 2,985 |
| Iowa | $100 | $14.00 | 3,011 | 2,265 |
| Kentucky | $123 | $16.12 | 3,076 | 2,020 |
| Missouri | $112 | $14.18 | 5,960 | 2,725 |
| Wisconsin | $117 | $15.00 | 5,705 | 1,787 |
| United States | $178 | $18.28 | 265,785 | 185,367 |
A dash means fewer than 10 listings with a usable price.
Commercial Real Estate Markets in Illinois
Realmo tracks 148 city markets in Illinois; the 40 with the most active listings are listed below. Chicago leads with 5,330 active listings, followed by Hoffman Estates and Peoria.
| City | Active Listings | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|---|
| Chicago | 5,330 | $179 | $24.00 |
| Hoffman Estates | 331 | $162 | $17.75 |
| Peoria | 300 | $68 | $12.00 |
| Springfield | 284 | — | — |
| Rockford | 213 | $90 | — |
| Naperville | 204 | $263 | $18.70 |
| Aurora | 195 | $141 | $18.75 |
| Schaumburg | 171 | — | $15.00 |
| Joliet | 170 | $141 | $15.50 |
| Champaign | 139 | — | $18.00 |
| Belleville | 138 | $86 | — |
| Alton | 125 | $62 | $13.00 |
| Oak Lawn | 119 | $186 | $22.50 |
| Moline | 116 | $58 | $12.00 |
| Bloomington | 114 | $109 | $16.50 |
| Des Plaines | 108 | $188 | $20.00 |
| Skokie | 104 | $168 | — |
| Cicero | 103 | $169 | — |
| Elk Grove Vlg | 103 | — | — |
| Crystal Lake | 99 | $127 | $15.00 |
| Saint Charles | 89 | — | — |
| Orland Park | 88 | $203 | $17.00 |
| Waukegan | 86 | $109 | $13.00 |
| Decatur | 85 | $61 | — |
| Tinley Park | 80 | $109 | $18.00 |
| Schiller Park | 79 | $130 | — |
| Bolingbrook | 78 | — | $18.75 |
| Evanston | 77 | — | — |
| Carbondale | 72 | $87 | — |
| McHenry | 72 | $132 | — |
| Chicago Heights | 71 | $94 | — |
| Calumet City | 68 | — | — |
| Lombard | 68 | — | — |
| Bensenville | 67 | — | $25.00 |
| Quincy | 67 | — | — |
| Dixmoor | 66 | $95 | — |
| Granite City | 66 | $76 | — |
| Geneva | 65 | — | — |
| Rock Island | 65 | $46 | $18.00 |
| Downers Grove | 63 | — | $19.00 |
Same method as the statewide figures. A dash means fewer than 10 listings with a usable price.
Frequently Asked Questions
What is the median price per square foot for commercial property in Illinois?
How much does it cost to lease commercial space in Illinois?
Which cities have the highest and lowest commercial property prices?
How do commercial property prices in Illinois compare with neighboring states?
Which markets in Illinois have the most active listings?
Where does Realmo's market data come from?
Methodology and Data Sources
- Listing coverage
- Asking figures come from 8,948 active for-sale and 6,999 active for-lease listings across Illinois in Realmo's public listing index. They are asking prices, not closed-transaction prices. Sale and lease counts are separate and may overlap. Land listings are not counted. The medians are based on the 2,189 for-sale and 1,561 for-lease listings that state a price or rent per square foot.
- Asking prices and rents
- Prices are medians of each listing's asking price per square foot, so a few very high or very low listings do not skew them. Data-entry errors are left out, and a median is published only with at least 10 listings with a usable price. A listing with a price range can contribute both endpoints.
- Neighboring states
- Neighboring-state comparisons use the same method and the same snapshot for every state, plus the United States as a reference.
- City markets
- The city list includes cities with more than 3 active listings whose market page has enough data to publish, ordered by active listings, up to 40. The price ranking covers cities with at least 10 priced listings for each metric and leaves out a city more than three times above or below the statewide median. City counts and prices use the same method as the statewide figures, so the table compares like with like; a city's own market page uses its own method, so its figures can differ.
- Updates
- Statewide and neighboring-state figures refresh hourly and city figures daily. Last updated 6 November 2026.
