Commercial Real Estate Market in Hanover Park, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
43 active listings and 722 off-market properties in Hanover Park, IL. Commercial property asks $158/SF to buy (based on 5 listings) and $13.00/SF/Yr to lease (based on 3 listings).
Market Trends
Hanover Park, IL spans 8.4 square miles in Cook County, Illinois. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Hanover Park, IL has a median asking sale price of $158/SF (based on 4 listings). Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Hanover Park, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Hanover Park, 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 Hanover Park, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Market overview
Demographics & Economy
Hanover Park, IL has 37,494 residents in 11,573 households. Density runs 4,472 people per square mile. Median household income here is $92,263 and median gross rent $1,478 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Streamwood | $145 | — |
| Roselle | $398 | $18.00 |
| Schaumburg | $251 | $15.00 |
| Carol Stream | $262 | $13.73 |
Commercial property in Hanover Park, IL asks $158/SF. The 4 bordering markets run from $145/SF in Streamwood to $398/SF in Roselle, and the city sits below their $256/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Hanover Park?
How much does it cost to lease commercial space in Hanover Park?
How does Hanover Park compare to nearby markets on price?
Where does Realmo's Hanover Park market data come from?
Methodology & data sources
- Asking prices and medians
- There are 18 active for-sale and 25 active for-lease listings in Hanover Park, IL. The medians are based on 5 of the for-sale and 3 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.
- 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
