Commercial Real Estate Market in Island Lake, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
9 active listings and 123 off-market properties in Island Lake, IL. Commercial property asks $163/SF to buy and $38.00/SF/Yr to lease.
Market Trends
Island Lake, IL spans 4.6 square miles in Lake County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Island Lake, 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 Island Lake, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Island Lake, 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 Island Lake, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Island Lake, IL has 8,433 residents in 3,263 households. Density runs 1,847 people per square mile. Median household income here is $94,613 and median gross rent $1,826 a month.
8,433
Population
3,263
Households
2.6
Avg Household Size
41
Median Age
27%
College-Educated
91%
High-School Grad
4.6 sq mi
ZIP Area
1,847
Density / Sq Mi
$94,613
Median Household Income
$46,306
Median Earnings
$1,826
Median Rent
$244,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Holiday Hills | — | — |
| Port Barrington | — | — |
| Oakwood Hills | — | — |
| Wauconda | — | — |
Commercial property in Island Lake, IL asks $163/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Island Lake?
Commercial property in Island Lake, IL asks an average of $163 per square foot. The 3 most recent recorded sales traded at a median of $107/SF, so asking sits 53% above the achieved median.
How much does it cost to lease commercial space in Island Lake?
Asking lease rates in Island Lake, IL average $38.00 per square foot per year.
Where does Realmo's Island Lake market data come from?
Realmo compiles Island Lake, IL figures from 8 recent recorded sales, 6 active sale listings, 3 active lease listings, 123 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 6 active for-sale and 3 active for-lease listings in Island Lake, 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
