Commercial Real Estate Market in Highwood, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
7 active listings and 148 off-market properties in Highwood, IL. Commercial property asks $164/SF to buy and $36.00/SF/Yr to lease.
Market Trends
Highwood, IL spans 0.8 square miles in Lake County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Highwood, 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 Highwood, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Highwood, 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 Highwood, 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 60.1%
- Planned_development 21.8%
- Mixed use 10.1%
- Civic 2.4%
- Commercial 2.1%
Largest Zones share of zoned land by district
Residential Single Family 7260 Acres
Planned Unit Development
Residential Duplex
Residential Single Family 2 Acres
Residential Multifamily
Residential Single Family 7260 Acres (R2)
R2 single family residential is designed for neighborhoods of single family type residences on individual lots.
Market overview
Demographics & Economy
Highwood, IL has 5,102 residents in 1,969 households. Density runs 6,665 people per square mile. Median household income here is $101,862 and median gross rent $1,800 a month.
5,102
Population
1,969
Households
2.6
Avg Household Size
37
Median Age
38%
College-Educated
80%
High-School Grad
0.8 sq mi
ZIP Area
6,665
Density / Sq Mi
$101,862
Median Household Income
$41,361
Median Earnings
$1,800
Median Rent
$454,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Highland Park | — | $31.33 |
| Deerfield | — | $23.06 |
| Bannockburn | — | — |
| Lake Forest | — | — |
Commercial property in Highwood, IL asks $164/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Highwood?
Commercial property in Highwood, IL asks an average of $164 per square foot.
How much does it cost to lease commercial space in Highwood?
Asking lease rates in Highwood, IL average $36.00 per square foot per year.
Where does Realmo's Highwood market data come from?
Realmo compiles Highwood, IL figures from 5 recent recorded sales, 3 active sale listings, 4 active lease listings, 148 tracked off-market properties, the current Highwood zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 3 active for-sale and 4 active for-lease listings in Highwood, 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: 287 zoned acres across 14 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
