Commercial Real Estate Market in Lakewood, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
21 active listings and 10 off-market properties in Lakewood, IL.
Market Trends
Lakewood, IL spans 23.3 square miles in McHenry County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lakewood, 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 Lakewood, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Lakewood, 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 Lakewood, 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
- Planned_development 49%
- Residential 33.5%
- Agricultural 15.9%
- Commercial 1.7%
Largest Zones share of zoned land by district
Single Family Detached Planned Development
Single Family Detached
Agricultural
Single Family Detached Planned Development Office Use
Single Family Detached
Single Family Detached Planned Development (R-1-PD)
R-1: The purpose of the R-1 One-Family Dwelling Residential District is to provide areas for low-density residential development. Public utility service would ordinarily be available to service areas with this type of development, PD: The purpose of the PD district is the regulations are established to encourage imaginative design of coordinated land uses an…
Market overview
Demographics & Economy
Lakewood, IL has 286 residents in 97 households. Density runs 12 people per square mile. Median household income here is $49,727.
286
Population
97
Households
2.9
Avg Household Size
46
Median Age
21%
College-Educated
100%
High-School Grad
23.3 sq mi
ZIP Area
12
Density / Sq Mi
$49,727
Median Household Income
$26,728
Median Earnings
$0
Median Rent
$235,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Tower Hill | — | — |
| Cowden | — | — |
| Duvall | — | — |
| Shelbyville | — | — |
Frequently Asked Questions
Where does Realmo's Lakewood market data come from?
Realmo compiles Lakewood, IL figures from 21 active sale listings, 10 tracked off-market properties, the current Lakewood zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 21 active for-sale and 0 active for-lease listings in Lakewood, 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: 3,154 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
