Commercial Real Estate Market in Highland Park, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
42 active listings and 544 off-market properties in Highland Park, IL. Commercial property asks $166/SF to buy and $31.33/SF/Yr to lease.
Market Trends
Highland Park, IL spans 12.7 square miles in Lake County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Highland Park, 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 Highland Park, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Highland 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%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Highland Park, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Highland Park, IL has 30,152 residents in 12,376 households. Density runs 2,380 people per square mile. Median household income here is $161,811 and median gross rent $1,903 a month.
30,152
Population
12,376
Households
2.4
Avg Household Size
47
Median Age
76%
College-Educated
97%
High-School Grad
12.7 sq mi
ZIP Area
2,380
Density / Sq Mi
$161,811
Median Household Income
$78,658
Median Earnings
$1,903
Median Rent
$594,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Highwood | — | — |
| Deerfield | — | $23.06 |
| Bannockburn | — | — |
| Glencoe | — | — |
Commercial property in Highland Park, IL asks $166/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Highland Park?
Commercial property in Highland Park, IL asks an average of $166 per square foot. The 3 most recent recorded sales traded at a median of $161/SF, so asking sits 3% above the achieved median.
How much does it cost to lease commercial space in Highland Park?
Asking lease rates in Highland Park, IL average $31.33 per square foot per year.
Where does Realmo's Highland Park market data come from?
Realmo compiles Highland Park, IL figures from 7 recent recorded sales, 7 active sale listings, 35 active lease listings, 544 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 7 active for-sale and 35 active for-lease listings in Highland Park, 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.
- 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
