Commercial Real Estate Market in Morton Grove, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
40 active listings and 549 off-market properties in Morton Grove, IL. Commercial property asks $2/SF to buy and $10.25/SF/Yr to lease.
Market Trends
Morton Grove, IL spans 5.1 square miles in Cook County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Morton Grove, 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 Morton Grove, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Morton Grove, 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 Morton Grove, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Morton Grove, IL has 25,297 residents in 9,546 households. Density runs 5,002 people per square mile. Median household income here is $106,078 and median gross rent $2,210 a month.
25,297
Population
9,546
Households
2.7
Avg Household Size
45
Median Age
52%
College-Educated
90%
High-School Grad
5.1 sq mi
ZIP Area
5,002
Density / Sq Mi
$106,078
Median Household Income
$61,315
Median Earnings
$2,210
Median Rent
$377,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Golf | — | — |
| Niles | — | — |
| Glenview | — | $19.88 |
| Skokie | — | $21.64 |
Commercial property in Morton Grove, IL asks $2/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Morton Grove?
Commercial property in Morton Grove, IL asks an average of $2 per square foot.
How much does it cost to lease commercial space in Morton Grove?
Asking lease rates in Morton Grove, IL average $10.25 per square foot per year.
Where does Realmo's Morton Grove market data come from?
Realmo compiles Morton Grove, IL figures from 7 recent recorded sales, 23 active sale listings, 17 active lease listings, 549 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 23 active for-sale and 17 active for-lease listings in Morton Grove, 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
