Commercial Real Estate Market in Mount Prospect, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
45 active listings and 767 off-market properties in Mount Prospect, IL. Commercial property asks $159/SF to buy and $27.00/SF/Yr to lease.
Market Trends
Mount Prospect, IL spans 10.9 square miles in Cook County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Mount Prospect, 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 Mount Prospect, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Mount Prospect, 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 Mount Prospect, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Mount Prospect, IL has 57,177 residents in 23,202 households. Density runs 5,262 people per square mile. Median household income here is $104,168 and median gross rent $1,456 a month.
57,177
Population
23,202
Households
2.5
Avg Household Size
41
Median Age
49%
College-Educated
92%
High-School Grad
10.9 sq mi
ZIP Area
5,262
Density / Sq Mi
$104,168
Median Household Income
$54,158
Median Earnings
$1,456
Median Rent
$376,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Wheeling | — | $15.74 |
| Des Plaines | — | $20.23 |
| Arlington Hts | — | — |
| Rolling Meadows | — | $68.67 |
Commercial property in Mount Prospect, IL asks $159/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Mount Prospect?
Commercial property in Mount Prospect, IL asks an average of $159 per square foot.
How much does it cost to lease commercial space in Mount Prospect?
Asking lease rates in Mount Prospect, IL average $27.00 per square foot per year.
Where does Realmo's Mount Prospect market data come from?
Realmo compiles Mount Prospect, IL figures from 8 recent recorded sales, 15 active sale listings, 30 active lease listings, 767 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 15 active for-sale and 30 active for-lease listings in Mount Prospect, 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
