Commercial Real Estate Market in Grayslake, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
49 active listings and 922 off-market properties in Grayslake, IL. Commercial property asks $548/SF to buy and $15.83/SF/Yr to lease.
Market Trends
Grayslake, IL spans 26.8 square miles in Lake County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Grayslake, 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 Grayslake, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
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%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Grayslake, 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 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
Planned Unit Development
Residential 1
Mixed Use
General Business
Residential 3
Residential 1 (R1)
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.
36,346
Population
15,006
Households
2.4
Avg Household Size
43
Median Age
49%
College-Educated
97%
High-School Grad
26.8 sq mi
ZIP Area
1,358
Density / Sq Mi
$104,920
Median Household Income
$55,766
Median Earnings
$1,526
Median Rent
$276,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Hainesville | — | — |
| Round Lake Park | — | — |
| Wildwood | — | — |
| Third Lake | — | — |
Commercial property in Grayslake, IL asks $548/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Grayslake?
Commercial property in Grayslake, IL asks an average of $548 per square foot. The 5 most recent recorded sales traded at a median of $625/SF.
How much does it cost to lease commercial space in Grayslake?
Asking lease rates in Grayslake, IL average $15.83 per square foot per year.
Where does Realmo's Grayslake market data come from?
Realmo compiles Grayslake, IL figures from 7 recent recorded sales, 23 active sale listings, 26 active lease listings, 922 tracked off-market properties, the current Grayslake zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 23 active for-sale and 26 active for-lease listings in Grayslake, 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: 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 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
