Commercial Real Estate Market in Melrose Park, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
83 active listings and 3,025 off-market properties in Melrose Park, IL. Commercial property asks $59/SF to buy and $15.47/SF/Yr to lease.
Market Trends
Melrose Park, IL spans 11.1 square miles in Cook County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Melrose Park, 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 Melrose Park, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Melrose Park, 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 Melrose Park, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Melrose Park, IL has 57,004 residents in 19,863 households. Density runs 5,152 people per square mile. Median household income here is $71,894 and median gross rent $1,185 a month.
57,004
Population
19,863
Households
2.9
Avg Household Size
37
Median Age
15%
College-Educated
74%
High-School Grad
11.1 sq mi
ZIP Area
5,152
Density / Sq Mi
$71,894
Median Household Income
$40,870
Median Earnings
$1,185
Median Rent
$247,723
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Bellwood | — | — |
| River Grove | — | — |
| River Forest | — | — |
| Broadview | — | $17.16 |
Commercial property in Melrose Park, IL asks $59/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Melrose Park?
Commercial property in Melrose Park, IL asks an average of $59 per square foot.
How much does it cost to lease commercial space in Melrose Park?
Asking lease rates in Melrose Park, IL average $15.47 per square foot per year.
Where does Realmo's Melrose Park market data come from?
Realmo compiles Melrose Park, IL figures from 6 recent recorded sales, 50 active sale listings, 33 active lease listings, 3,025 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 50 active for-sale and 33 active for-lease listings in Melrose Park, 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
