Commercial Real Estate Market in Evanston, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
83 active listings and 3,518 off-market properties in Evanston, IL. Commercial property asks $235/SF to buy (based on 5 listings) and $22.25/SF/Yr to lease (based on 8 listings).
Market Trends
Evanston, IL spans 8.5 square miles in Cook County, Illinois. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Evanston, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Evanston, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Evanston, 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%.
Multifamily
Multifamily vacancy in Evanston, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 69.6%
- Open space 12.1%
- Commercial 7.4%
- Civic 4.9%
- Industrial 3.2%
- Mixed use 1.2%
Largest Zones share of zoned land by district
Evanston, IL zones 5,022 acres across 33 districts. Commercial zoning covers 7.4% of zoned land, residential 69.6%, open space 12.1% and industrial 3.2%. The largest single district is Single Family Residential at 31.9%. For commercial buyers the practical constraint is that only 10.6% of land carries a commercial or industrial designation.
The intent of this zone is to promote Single-family residential uses
Market overview
Demographics & Economy
Evanston, IL has 82,744 residents in 35,708 households. Density runs 9,776 people per square mile. Median household income here is $99,657 and median gross rent $1,723 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Skokie | $168 | $23.75 |
| Morton Grove | $89 | $11.13 |
| Glenview | $97 | $25.00 |
Commercial property in Evanston, IL asks $235/SF. The 3 bordering markets run from $89/SF in Morton Grove to $168/SF in Skokie, and the city sits above their $97/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Evanston?
How much does it cost to lease commercial space in Evanston?
How does Evanston compare to nearby markets on price?
What zoning applies to commercial property in Evanston?
Where does Realmo's Evanston market data come from?
Methodology & data sources
- Asking prices and medians
- There are 34 active for-sale and 49 active for-lease listings in Evanston, IL. The medians are based on 5 of the for-sale and 8 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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: 5,022 zoned acres across 33 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
