Commercial Real Estate Market in Mundelein, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
65 active listings and 944 off-market properties in Mundelein, IL. Commercial property asks $123/SF to buy and $19.89/SF/Yr to lease.
Market Trends
Mundelein, IL spans 23.2 square miles in Lake County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Mundelein, 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 Mundelein, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
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%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Mundelein, 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 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
Single Family Residential
Single Family Residential
Open Space
Institutional
General Manufacturing
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.
Single Family Residential (R-3)
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.
37,599
Population
13,827
Households
2.7
Avg Household Size
40
Median Age
43%
College-Educated
90%
High-School Grad
23.2 sq mi
ZIP Area
1,619
Density / Sq Mi
$110,463
Median Household Income
$52,550
Median Earnings
$1,552
Median Rent
$299,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Indian Creek | — | — |
| Libertyville | — | $19.70 |
| Vernon Hills | — | $17.13 |
| Mettawa | — | — |
Commercial property in Mundelein, IL asks $123/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Mundelein?
Commercial property in Mundelein, IL asks an average of $123 per square foot.
How much does it cost to lease commercial space in Mundelein?
Asking lease rates in Mundelein, IL average $19.89 per square foot per year.
What zoning applies to commercial property in Mundelein?
Mundelein, IL zones 6,102 acres across 19 districts, of which 7.3% is commercial and 7.1% industrial. The largest single district is Single Family Residential at 23.7% of zoned land. 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 .................................... ..… Residential zoning covers 54.5% and open space 16%.
Where does Realmo's Mundelein market data come from?
Realmo compiles Mundelein, IL figures from 7 recent recorded sales, 23 active sale listings, 42 active lease listings, 944 tracked off-market properties, the current Mundelein zoning release. 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 42 active for-lease listings in Mundelein, 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: 6,102 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 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
