Commercial Real Estate Market in Mundelein, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
54 active listings and 944 off-market properties in Mundelein, IL. Commercial property asks $163/SF to buy (based on 3 listings) and $21.19/SF/Yr to lease.
Market Trends
Mundelein, IL spans 23.2 square miles in Lake County, Illinois. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Mundelein, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Mundelein, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Mundelein, 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%.
Multifamily
Multifamily vacancy in Mundelein, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 54.5%
- Open space 16%
- Civic 11.5%
- Commercial 7.3%
- Industrial 7.1%
- Mixed use 3.6%
Largest Zones share of zoned land by district
Mundelein, IL zones 6,102 acres across 19 districts. Commercial zoning covers 7.3% of zoned land, residential 54.5%, open space 16% and industrial 7.1%. The largest single district is Single Family Residential at 23.7%. For commercial buyers the practical constraint is that only 14.4% of land carries a commercial or industrial designation.
C. Purpose of R-3 Single-Family Residential Zoning District ................................. ............................ 20.28-1 D. Purpose of R-4 Two-Family Residential Zoning District .................................... ............................ 20.28-1 E. Purpose of R-5 Multi-Family Residential Zoning District .................................... ..…
Market overview
Demographics & Economy
Mundelein, IL has 37,599 residents in 13,827 households. Density runs 1,619 people per square mile. Median household income here is $110,463 and median gross rent $1,552 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Libertyville | $179 | $18.00 |
| Grayslake | $172 | $17.50 |
Commercial property in Mundelein, IL asks $163/SF. The 2 bordering markets run from $172/SF in Grayslake to $179/SF in Libertyville, and the city sits below their $175/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Mundelein?
How much does it cost to lease commercial space in Mundelein?
How does Mundelein compare to nearby markets on price?
What zoning applies to commercial property in Mundelein?
Where does Realmo's Mundelein market data come from?
Methodology & data sources
- Asking prices and medians
- There are 10 active for-sale and 44 active for-lease listings in Mundelein, IL. The medians are based on 3 of the for-sale and 14 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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: 6,102 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
