Commercial Real Estate Market in Deerfield, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
25 active listings and 249 off-market properties in Deerfield, IL. Commercial property asks $52/SF to buy and $23.06/SF/Yr to lease.
Market Trends
Deerfield, IL spans 13.6 square miles in Lake County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Deerfield, 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 Deerfield, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Deerfield, 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 Deerfield, 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 70.2%
- Industrial 13.1%
- Civic 12.4%
- Commercial 4.3%
Largest Zones share of zoned land by district
Residential Single Family District
Residential Single Family District
Residential Single Family District
Public Lands Schools Parks Buildings And Cemeteries
Office Research Restricted And Industry
Deerfield, IL zones 3,517 acres across 12 districts. Commercial zoning covers 4.3% of zoned land, residential 70.2% and industrial 13.1%. The largest single district is Residential Single Family District at 35%. For commercial buyers the practical constraint is that only 17.4% of land carries a commercial or industrial designation.
Residential Single Family District (R-3)
The R-3 Single-Family Residence District is intended to provide for a suburban environment of single-family residences at the highest density permitted for such development in the Village. To protect the character of this district, all non-residential uses are prohibited except for special uses
Market overview
Demographics & Economy
Deerfield, 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 |
|---|---|---|
| Bannockburn | — | — |
| Highland Park | — | $31.33 |
| Riverwoods | — | — |
| Highwood | — | — |
Commercial property in Deerfield, IL asks $52/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Deerfield?
Commercial property in Deerfield, IL asks an average of $52 per square foot. The 3 most recent recorded sales traded at a median of $1,726/SF.
How much does it cost to lease commercial space in Deerfield?
Asking lease rates in Deerfield, IL average $23.06 per square foot per year.
What zoning applies to commercial property in Deerfield?
Deerfield, IL zones 3,517 acres across 12 districts, of which 4.3% is commercial and 13.1% industrial. The largest single district is Residential Single Family District at 35% of zoned land. The R-3 Single-Family Residence District is intended to provide for a suburban environment of single-family residences at the highest density permitted for such development in the Village. To protect the character of this district, all non-residential uses are prohibited except for special uses Residential zoning covers 70.2% and open space 0%.
Where does Realmo's Deerfield market data come from?
Realmo compiles Deerfield, IL figures from 7 recent recorded sales, 9 active sale listings, 16 active lease listings, 249 tracked off-market properties, the current Deerfield zoning release. 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 16 active for-lease listings in Deerfield, 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: 3,517 zoned acres across 12 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
