Commercial Real Estate Market in Bannockburn, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
13 active listings and 48 off-market properties in Bannockburn, IL.
Market Trends
Bannockburn, IL spans 13.6 square miles in Lake County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Bannockburn, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Bannockburn, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Bannockburn, IL runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Bannockburn, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 50%
- Commercial 12%
- Planned_development 10%
- Open space 6%
- Civic 5.3%
Largest Zones share of zoned land by district
Residence District
Office Research District
Residence District
Residence District Planned Unit Development
College District
Residence District (A)
The residential district regulations are intended to perpetuate the overall character of the village by preserving established residential areas and encouraging new development consistent with the countryside character of the villages residential core.
Market overview
Demographics & Economy
Bannockburn, IL has 28,013 residents in 10,657 households. Density runs 2,055 people per square mile. Median household income here is $186,786 and median gross rent $2,284 a month.
28,013
Population
10,657
Households
2.6
Avg Household Size
43
Median Age
80%
College-Educated
98%
High-School Grad
13.6 sq mi
ZIP Area
2,055
Density / Sq Mi
$186,786
Median Household Income
$82,970
Median Earnings
$2,284
Median Rent
$602,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Deerfield | — | $23.06 |
| Lincolnshire | — | $17.00 |
| Riverwoods | — | — |
| Highwood | — | — |
Commercial property in Bannockburn, IL asks $43/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Bannockburn?
Commercial property in Bannockburn, IL asks an average of $43 per square foot. The 4 most recent recorded sales traded at a median of $502/SF.
Where does Realmo's Bannockburn market data come from?
Realmo compiles Bannockburn, IL figures from 4 recent recorded sales, 3 active sale listings, 10 active lease listings, 48 tracked off-market properties, the current Bannockburn zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 3 active for-sale and 10 active for-lease listings in Bannockburn, IL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 1,270 zoned acres across 11 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
