Commercial Real Estate Market in Homewood, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
31 active listings and 597 off-market properties in Homewood, IL. Commercial property asks $120/SF to buy (based on 4 listings) and $21.00/SF/Yr to lease (based on 8 listings).
Market Trends
Homewood, IL spans 10.9 square miles in Cook County, Illinois. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Homewood, IL has a median asking sale price of $81/SF (based on 3 listings). Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Homewood, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Homewood, 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 Homewood, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 59.4%
- Open space 16.7%
- Commercial 11.5%
- Industrial 6.6%
Largest Zones share of zoned land by district
Homewood, IL zones 2,625 acres across 12 districts. Commercial zoning covers 11.5% of zoned land, residential 59.4%, open space 16.7% and industrial 6.6%. The largest single district is Single Family Residence at 43.9%. For commercial buyers the practical constraint is that only 18.1% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Homewood, IL has 30,073 residents in 11,556 households. Density runs 2,768 people per square mile. Median household income here is $105,704 and median gross rent $1,674 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Homewood?
How much does it cost to lease commercial space in Homewood?
What zoning applies to commercial property in Homewood?
Where does Realmo's Homewood market data come from?
Methodology & data sources
- Asking prices and medians
- There are 12 active for-sale and 19 active for-lease listings in Homewood, IL. The medians are based on 4 of the for-sale and 8 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.
- Zoning and land use
- The current municipal zoning release: 2,625 zoned acres across 12 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 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
