Commercial Real Estate Market in Grayslake, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
48 active listings and 922 off-market properties in Grayslake, IL. Commercial property asks $172/SF to buy (based on 8 listings) and $17.50/SF/Yr to lease (based on 8 listings).
Market Trends
Grayslake, IL spans 26.8 square miles in Lake County, Illinois. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Grayslake, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Grayslake, IL has a median asking sale price of $153/SF (based on 3 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Grayslake, 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 Grayslake, 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 32.8%
- Planned_development 27.5%
- Commercial 12.3%
- Mixed use 10%
- Open space 8.8%
- Industrial 5.5%
- Agricultural 2.2%
Largest Zones share of zoned land by district
A. RESIDENTIAL 1 (R1): The R1 zone is established to provide for low density area in which the principal use of land is for single family residences:
Market overview
Demographics & Economy
Grayslake, IL has 36,346 residents in 15,006 households. Density runs 1,358 people per square mile. Median household income here is $104,920 and median gross rent $1,526 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Grayslake?
How much does it cost to lease commercial space in Grayslake?
Where does Realmo's Grayslake market data come from?
Methodology & data sources
- Asking prices and medians
- There are 16 active for-sale and 32 active for-lease listings in Grayslake, IL. The medians are based on 8 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: 6,726 zoned acres across 23 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
