Commercial Real Estate Market in Buffalo Grove, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
44 active listings and 604 off-market properties in Buffalo Grove, IL. Commercial property asks $44/SF to buy and $14.50/SF/Yr to lease.
Market Trends
Buffalo Grove, IL spans 9.8 square miles in Lake County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Buffalo Grove, 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 Buffalo Grove, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Buffalo Grove, 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 Buffalo Grove, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Buffalo Grove, IL has 43,227 residents in 16,551 households. Density runs 4,391 people per square mile. Median household income here is $129,932 and median gross rent $2,042 a month.
43,227
Population
16,551
Households
2.6
Avg Household Size
43
Median Age
67%
College-Educated
97%
High-School Grad
9.8 sq mi
ZIP Area
4,391
Density / Sq Mi
$129,932
Median Household Income
$70,514
Median Earnings
$2,042
Median Rent
$393,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Long Grove | — | — |
| Half Day | — | — |
| Vernon Hills | — | $17.13 |
| Lincolnshire | — | $17.00 |
Commercial property in Buffalo Grove, IL asks $44/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Buffalo Grove?
Commercial property in Buffalo Grove, IL asks an average of $44 per square foot.
How much does it cost to lease commercial space in Buffalo Grove?
Asking lease rates in Buffalo Grove, IL average $14.50 per square foot per year.
Where does Realmo's Buffalo Grove market data come from?
Realmo compiles Buffalo Grove, IL figures from 7 recent recorded sales, 9 active sale listings, 35 active lease listings, 604 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 9 active for-sale and 35 active for-lease listings in Buffalo Grove, 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.
- 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
