Commercial Real Estate Market in Oak Forest, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
34 active listings and 494 off-market properties in Oak Forest, IL. Commercial property asks $462/SF to buy and $18.75/SF/Yr to lease.
Market Trends
Oak Forest, IL spans 8.6 square miles in Cook County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Oak Forest, 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 Oak Forest, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Oak Forest, 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 Oak Forest, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Oak Forest, IL has 27,363 residents in 10,557 households. Density runs 3,186 people per square mile. Median household income here is $89,167 and median gross rent $1,287 a month.
27,363
Population
10,557
Households
2.6
Avg Household Size
40
Median Age
30%
College-Educated
92%
High-School Grad
8.6 sq mi
ZIP Area
3,186
Density / Sq Mi
$89,167
Median Household Income
$47,519
Median Earnings
$1,287
Median Rent
$249,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Tinley Park | — | $18.83 |
| Markham | — | — |
| Country Club Hills | — | — |
| Robbins | — | — |
Commercial property in Oak Forest, IL asks $462/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Oak Forest?
Commercial property in Oak Forest, IL asks an average of $462 per square foot.
How much does it cost to lease commercial space in Oak Forest?
Asking lease rates in Oak Forest, IL average $18.75 per square foot per year.
Where does Realmo's Oak Forest market data come from?
Realmo compiles Oak Forest, IL figures from 7 recent recorded sales, 23 active sale listings, 11 active lease listings, 494 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 11 active for-lease listings in Oak Forest, 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
