Commercial Real Estate Market in Oak Lawn, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
120 active listings and 4,055 off-market properties in Oak Lawn, IL. Commercial property asks $213/SF to buy (based on 8 listings) and $24.00/SF/Yr to lease.
Market Trends
Oak Lawn, IL spans 23.4 square miles in Cook County, Illinois. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Oak Lawn, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Oak Lawn, IL has a median asking sale price of $278/SF (based on 3 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial space in Oak Lawn, IL has a median asking sale price of $166/SF (based on 3 listings). Vacancy 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 Oak Lawn, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Market overview
Demographics & Economy
Oak Lawn, IL has 138,178 residents in 53,332 households. Density runs 5,893 people per square mile. Median household income here is $77,836 and median gross rent $1,228 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Oak Lawn?
How much does it cost to lease commercial space in Oak Lawn?
Where does Realmo's Oak Lawn market data come from?
Methodology & data sources
- Asking prices and medians
- There are 52 active for-sale and 68 active for-lease listings in Oak Lawn, IL. The medians are based on 8 of the for-sale and 21 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.
- 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
