Commercial Real Estate Market in Harvey, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
92 active listings and 3,979 off-market properties in Harvey, IL. Commercial property asks $89/SF to buy and $25.00/SF/Yr to lease.
Market Trends
Harvey, IL spans 12.8 square miles in Cook County, Illinois. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Harvey, 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 Harvey, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Harvey, 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 Harvey, 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 46.9%
- Industrial 36.7%
- Commercial 13.2%
- Civic 3.2%
Largest Zones share of zoned land by district
Single Dwelling Unit Residential District
Light Manufacturing District
Heavy Manufacturing District
Multi Dwelling Unit Residential District
Highway Commercial District
Harvey, IL zones 2,903 acres across 9 districts. Commercial zoning covers 13.2% of zoned land, residential 46.9% and industrial 36.7%. The largest single district is Single Dwelling Unit Residential District at 28.5%. For commercial buyers the practical constraint is that only 49.9% of land carries a commercial or industrial designation.
Single Dwelling Unit Residential District (R-1)
R-1 single dwelling unit residential district established. The R-1 single dwelling residential district is established as a district in which the principal use of the land is devoted to detached single-family dwellings. The intent of this district is to promote low density development and to provide desirable standards, services and utilities in a consistent…
Market overview
Demographics & Economy
Harvey, IL has 35,465 residents in 15,008 households. Density runs 2,769 people per square mile. Median household income here is $44,856 and median gross rent $1,211 a month.
35,465
Population
15,008
Households
2.4
Avg Household Size
37
Median Age
12%
College-Educated
80%
High-School Grad
12.8 sq mi
ZIP Area
2,769
Density / Sq Mi
$44,856
Median Household Income
$32,960
Median Earnings
$1,211
Median Rent
$98,230
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Dixmoor | — | — |
| South Holland | — | — |
| Posen | — | — |
| East Hazel Crest | — | $33.39 |
Commercial property in Harvey, IL asks $89/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Harvey?
Commercial property in Harvey, IL asks an average of $89 per square foot.
How much does it cost to lease commercial space in Harvey?
Asking lease rates in Harvey, IL average $25.00 per square foot per year.
What zoning applies to commercial property in Harvey?
Harvey, IL zones 2,903 acres across 9 districts, of which 13.2% is commercial and 36.7% industrial. The largest single district is Single Dwelling Unit Residential District at 28.5% of zoned land. R-1 single dwelling unit residential district established. The R-1 single dwelling residential district is established as a district in which the principal use of the land is devoted to detached single-family dwellings. The intent of this district is to promote low density development and to provide desirable standards, services and utilities in a consistent… Residential zoning covers 46.9% and open space 0%.
Where does Realmo's Harvey market data come from?
Realmo compiles Harvey, IL figures from 7 recent recorded sales, 86 active sale listings, 6 active lease listings, 3,979 tracked off-market properties, the current Harvey zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 86 active for-sale and 6 active for-lease listings in Harvey, 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: 2,903 zoned acres across 9 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 30 September 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 30 September 2026 · report a data issue
