Commercial Real Estate Market in Lincolnshire, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
26 active listings and 232 off-market properties in Lincolnshire, IL. Commercial property asks $136/SF to buy and $17.00/SF/Yr to lease.
Market Trends
Lincolnshire, IL spans 5.9 square miles in Lake County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lincolnshire, 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 Lincolnshire, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Lincolnshire, 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 Lincolnshire, 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 49%
- Commercial 30.7%
- Industrial 11.3%
- Open space 7.6%
- Mixed use 1.5%
Largest Zones share of zoned land by district
Single Family Residential
General Business
Single Family Residential
Industrial
Single Family Residential
Lincolnshire, IL zones 3,002 acres across 13 districts. Commercial zoning covers 30.7% of zoned land, residential 49%, open space 7.6% and industrial 11.3%. The largest single district is Single Family Residential at 27.3%. For commercial buyers the practical constraint is that only 42% of land carries a commercial or industrial designation.
Single Family Residential (R3)
In R1, R2, and R3 Districts, an allowable nonresidential building may be erected to a height not to exceed sixty feet (60') when the required front and rear yards are increased in depth, and side yards are increased in width, one foot (1') for each foot of height that such building exceeds the building height regulations of the district in which it is locate…
Market overview
Demographics & Economy
Lincolnshire, IL has 8,735 residents in 3,846 households. Density runs 1,473 people per square mile. Median household income here is $157,366 and median gross rent $2,682 a month.
8,735
Population
3,846
Households
2.3
Avg Household Size
50
Median Age
72%
College-Educated
97%
High-School Grad
5.9 sq mi
ZIP Area
1,473
Density / Sq Mi
$157,366
Median Household Income
$82,672
Median Earnings
$2,682
Median Rent
$569,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Half Day | — | — |
| Riverwoods | — | — |
| Bannockburn | — | — |
| Mettawa | — | — |
Commercial property in Lincolnshire, IL asks $136/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lincolnshire?
Commercial property in Lincolnshire, IL asks an average of $136 per square foot.
How much does it cost to lease commercial space in Lincolnshire?
Asking lease rates in Lincolnshire, IL average $17.00 per square foot per year.
What zoning applies to commercial property in Lincolnshire?
Lincolnshire, IL zones 3,002 acres across 13 districts, of which 30.7% is commercial and 11.3% industrial. The largest single district is Single Family Residential at 27.3% of zoned land. In R1, R2, and R3 Districts, an allowable nonresidential building may be erected to a height not to exceed sixty feet (60') when the required front and rear yards are increased in depth, and side yards are increased in width, one foot (1') for each foot of height that such building exceeds the building height regulations of the district in which it is locate… Residential zoning covers 49% and open space 7.6%.
Where does Realmo's Lincolnshire market data come from?
Realmo compiles Lincolnshire, IL figures from 5 recent recorded sales, 7 active sale listings, 19 active lease listings, 232 tracked off-market properties, the current Lincolnshire zoning release. 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 19 active for-lease listings in Lincolnshire, 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: 3,002 zoned acres across 13 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
