Commercial Real Estate Market in Niles, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
42 active listings and 961 off-market properties in Niles, IL. Commercial property asks $24/SF to buy and $15.00/SF/Yr to lease.
Market Trends
Niles, IL spans 6.3 square miles in Cook County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Niles, 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 Niles, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Niles, 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 Niles, 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 41.9%
- Civic 23.3%
- Mixed use 21.7%
- Industrial 12.8%
Largest Zones share of zoned land by district
Single Family Residential
Public Institutional Lands
Limited Industrial
General Commercial
Multifamily Residential
Single Family Residential (R-2)
The R-2 Single Family Residential Zoning District is intended to provide for a neighborhood environment of single family detached dwellings located on lots of 50 feet or more in width that reflect the predominant pattern of single family residential development within the Village, Limited non residential uses that are compatible with surrounding residential…
Market overview
Demographics & Economy
Niles, IL has 31,006 residents in 11,867 households. Density runs 4,938 people per square mile. Median household income here is $78,868 and median gross rent $1,247 a month.
31,006
Population
11,867
Households
2.6
Avg Household Size
49
Median Age
39%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
4,938
Density / Sq Mi
$78,868
Median Household Income
$46,553
Median Earnings
$1,247
Median Rent
$351,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Morton Grove | — | $10.25 |
| Park Ridge | — | $26.40 |
| Golf | — | — |
| Glenview | — | $19.88 |
Commercial property in Niles, IL asks $24/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Niles?
Commercial property in Niles, IL asks an average of $24 per square foot.
How much does it cost to lease commercial space in Niles?
Asking lease rates in Niles, IL average $15.00 per square foot per year.
Where does Realmo's Niles market data come from?
Realmo compiles Niles, IL figures from 6 recent recorded sales, 15 active sale listings, 27 active lease listings, 961 tracked off-market properties, the current Niles zoning release. 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 27 active for-lease listings in Niles, 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: 3,079 zoned acres across 15 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
