Commercial Real Estate Market in Lincolnwood, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
172 active listings and 2,959 off-market properties in Lincolnwood, IL. Commercial property asks $56/SF to buy and $18.75/SF/Yr to lease.
Market Trends
Lincolnwood, IL spans 7.1 square miles in McLean County, Illinois. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Lincolnwood, 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 Lincolnwood, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Lincolnwood, 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 Lincolnwood, 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 63.5%
- Industrial 14.5%
- Planned_development 8.1%
- Open space 7.2%
- Mixed use 3.3%
- Commercial 2.4%
- Civic 1.1%
Largest Zones share of zoned land by district
Residential
Residential
Residential
Light Manufacturing Business
Public Open Space
Lincolnwood, IL zones 1,726 acres across 12 districts. Commercial zoning covers 2.4% of zoned land, residential 63.5%, open space 7.2% and industrial 14.5%. The largest single district is Residential at 37.5%. For commercial buyers the practical constraint is that only 16.9% of land carries a commercial or industrial designation.
Residential (R3)
R-3 Residential District. The R-3 District is established to provide medium-density areas and to provide for a wider variety of dwelling accommodations, while maintaining the scale and character of existing residential areas, in which the principal use of land is for single-family dwellings and related uses. (4)
Market overview
Demographics & Economy
Lincolnwood, IL has 41,846 residents in 16,623 households. Density runs 5,869 people per square mile. Median household income here is $110,097 and median gross rent $1,968 a month.
41,846
Population
16,623
Households
2.5
Avg Household Size
45
Median Age
57%
College-Educated
95%
High-School Grad
7.1 sq mi
ZIP Area
5,869
Density / Sq Mi
$110,097
Median Household Income
$64,242
Median Earnings
$1,968
Median Rent
$487,745
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Skokie | — | $21.64 |
| Evanston | — | $24.45 |
| Morton Grove | — | $10.25 |
| Niles | — | — |
Commercial property in Lincolnwood, IL asks $56/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lincolnwood?
Commercial property in Lincolnwood, IL asks an average of $56 per square foot.
How much does it cost to lease commercial space in Lincolnwood?
Asking lease rates in Lincolnwood, IL average $18.75 per square foot per year.
What zoning applies to commercial property in Lincolnwood?
Lincolnwood, IL zones 1,726 acres across 12 districts, of which 2.4% is commercial and 14.5% industrial. The largest single district is Residential at 37.5% of zoned land. R-3 Residential District. The R-3 District is established to provide medium-density areas and to provide for a wider variety of dwelling accommodations, while maintaining the scale and character of existing residential areas, in which the principal use of land is for single-family dwellings and related uses. (4) Residential zoning covers 63.5% and open space 7.2%.
Where does Realmo's Lincolnwood market data come from?
Realmo compiles Lincolnwood, IL figures from 4 recent recorded sales, 134 active sale listings, 38 active lease listings, 2,959 tracked off-market properties, the current Lincolnwood zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 134 active for-sale and 38 active for-lease listings in Lincolnwood, 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: 1,726 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 30 September 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 30 September 2026 · report a data issue
