Commercial Real Estate Market in Mokena, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
94 active listings and 781 off-market properties in Mokena, IL. Commercial property asks $205/SF to buy and $27.76/SF/Yr to lease.
Market Trends
Mokena, IL spans 18.3 square miles in Will County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Mokena, 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 Mokena, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Mokena, 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 Mokena, 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 47%
- Open space 33%
- Industrial 11%
- Commercial 8.4%
- Agricultural 0.2%
Largest Zones share of zoned land by district
Single Family Residence 12500 Square Feet
Forest Preserve District Property
Public Quasi Public And Conservation District
Limited Industrial District
Multifamily Residence District
Mokena, IL zones 6,447 acres across 19 districts. Commercial zoning covers 8.4% of zoned land, residential 47%, open space 33% and industrial 11%. The largest single district is Single Family Residence 12500 Square Feet at 24.6%. For commercial buyers the practical constraint is that only 19.4% of land carries a commercial or industrial designation.
Single Family Residence 12500 Square Feet (R-4)
B. Policy. To achieve the purpose of the R-4 Residential District, it shall be the policy of the Village to: 1. So locate R-4 Districts to other districts nearby or adjacent to available Municipal police and fire protection so as to protect these residential areas from the danger of fire, explosion, or noxious fumes and the irritations of offensive odors, no…
Market overview
Demographics & Economy
Mokena, IL has 25,512 residents in 9,196 households. Density runs 1,393 people per square mile. Median household income here is $126,483 and median gross rent $1,400 a month.
25,512
Population
9,196
Households
2.8
Avg Household Size
43
Median Age
43%
College-Educated
98%
High-School Grad
18.3 sq mi
ZIP Area
1,393
Density / Sq Mi
$126,483
Median Household Income
$56,490
Median Earnings
$1,400
Median Rent
$369,700
Median Home Value
Tools
Lease vs Buy Breakeven
At $27.76/SF/Yr lease vs $205/SF buy → buying wins if held > 0.8 years.
At a 13.5% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Frankfort | — | $12.33 |
| Orland Park | — | $20.03 |
| New Lenox | — | $27.76 |
| Homer Glen | — | — |
Commercial property in Mokena, IL asks $205/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Mokena?
Commercial property in Mokena, IL asks an average of $205 per square foot. The 4 most recent recorded sales traded at a median of $329/SF.
How much does it cost to lease commercial space in Mokena?
Asking lease rates in Mokena, IL average $27.76 per square foot per year.
Is it cheaper to lease or buy commercial space in Mokena?
Buying beats leasing in Mokena, IL if the property is held longer than 0.8 years, comparing $27.76/SF/Yr asking rent with $205/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
What zoning applies to commercial property in Mokena?
Mokena, IL zones 6,447 acres across 19 districts, of which 8.4% is commercial and 11% industrial. The largest single district is Single Family Residence 12500 Square Feet at 24.6% of zoned land. B. Policy. To achieve the purpose of the R-4 Residential District, it shall be the policy of the Village to: 1. So locate R-4 Districts to other districts nearby or adjacent to available Municipal police and fire protection so as to protect these residential areas from the danger of fire, explosion, or noxious fumes and the irritations of offensive odors, no… Residential zoning covers 47% and open space 33%.
Where does Realmo's Mokena market data come from?
Realmo compiles Mokena, IL figures from 8 recent recorded sales, 59 active sale listings, 35 active lease listings, 781 tracked off-market properties, the current Mokena zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 59 active for-sale and 35 active for-lease listings in Mokena, 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: 6,447 zoned acres across 19 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
