Commercial Real Estate Market in Gurnee, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
67 active listings and 891 off-market properties in Gurnee, IL. Commercial property asks $165/SF to buy and $13.62/SF/Yr to lease.
Market Trends
Gurnee, IL spans 19.0 square miles in Lake County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Gurnee, 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 Gurnee, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Gurnee, 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 Gurnee, 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
- Planned_development 32.9%
- Residential 32.6%
- Commercial 10.4%
- Industrial 7.7%
- Open space 3.9%
Largest Zones share of zoned land by district
Single Family Residential
Public Land
Single Family Residential
Single Family Residential Planned Unit Development
Limited Multifamily Residential Planned Unit Development
Single Family Residential Planned Unit Development (R-2-PUD)
R-2: The R-2 Single-Family Residential District is intended for areas of moderate density development and function as a transitional zone between areas of semi-rural character and developed residential districts, PUD: The planned unit development technique is intended to encourage and allow more creative and flexible development of land than is possible unde…
Market overview
Demographics & Economy
Gurnee, IL has 37,650 residents in 14,796 households. Density runs 1,980 people per square mile. Median household income here is $114,008 and median gross rent $1,601 a month.
37,650
Population
14,796
Households
2.5
Avg Household Size
42
Median Age
54%
College-Educated
95%
High-School Grad
19 sq mi
ZIP Area
1,980
Density / Sq Mi
$114,008
Median Household Income
$56,770
Median Earnings
$1,601
Median Rent
$322,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Park City | — | — |
| Waukegan | — | $14.14 |
| North Chicago | — | — |
| Beach Park | — | — |
Commercial property in Gurnee, IL asks $165/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Gurnee?
Commercial property in Gurnee, IL asks an average of $165 per square foot. The 3 most recent recorded sales traded at a median of $87/SF, so asking sits 91% above the achieved median.
How much does it cost to lease commercial space in Gurnee?
Asking lease rates in Gurnee, IL average $13.62 per square foot per year.
Where does Realmo's Gurnee market data come from?
Realmo compiles Gurnee, IL figures from 8 recent recorded sales, 39 active sale listings, 28 active lease listings, 891 tracked off-market properties, the current Gurnee zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 39 active for-sale and 28 active for-lease listings in Gurnee, 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: 8,772 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 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
