Commercial Real Estate Market in Oak Park, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
58 active listings and 2,281 off-market properties in Oak Park, IL. Commercial property asks $188/SF to buy and $14.00/SF/Yr to lease.
Market Trends
Oak Park, IL spans 4.7 square miles in Cook County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Oak Park, 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 Park, 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 Park, 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 Park, 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 Park, IL has 54,583 residents in 24,673 households. Density runs 11,614 people per square mile. Median household income here is $109,331 and median gross rent $1,378 a month.
54,583
Population
24,673
Households
2.2
Avg Household Size
40
Median Age
72%
College-Educated
97%
High-School Grad
4.7 sq mi
ZIP Area
11,614
Density / Sq Mi
$109,331
Median Household Income
$72,020
Median Earnings
$1,378
Median Rent
$444,754
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| River Forest | — | — |
| Berwyn | — | $25.67 |
| Hines | — | — |
| Melrose Park | — | — |
Commercial property in Oak Park, IL asks $188/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Oak Park?
Commercial property in Oak Park, IL asks an average of $188 per square foot.
How much does it cost to lease commercial space in Oak Park?
Asking lease rates in Oak Park, IL average $14.00 per square foot per year.
Where does Realmo's Oak Park market data come from?
Realmo compiles Oak Park, IL figures from 8 recent recorded sales, 43 active sale listings, 15 active lease listings, 2,281 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 43 active for-sale and 15 active for-lease listings in Oak Park, 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
