Commercial Real Estate Market in Orland Park, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
160 active listings and 1,210 off-market properties in Orland Park, IL. Commercial property asks $231/SF to buy and $20.03/SF/Yr to lease.
Market Trends
Orland Park, IL spans 30.7 square miles in Cook County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Orland 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 Orland 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 Orland 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 Orland 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
Orland Park, IL has 66,637 residents in 27,390 households. Density runs 2,167 people per square mile. Median household income here is $101,675 and median gross rent $1,710 a month.
66,637
Population
27,390
Households
2.4
Avg Household Size
47
Median Age
45%
College-Educated
95%
High-School Grad
30.7 sq mi
ZIP Area
2,167
Density / Sq Mi
$101,675
Median Household Income
$57,125
Median Earnings
$1,710
Median Rent
$354,604
Median Home Value
Tools
Lease vs Buy Breakeven
At $20.03/SF/Yr lease vs $231/SF buy → buying wins if held > 1.9 years.
At a 8.7% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Mokena | — | $27.76 |
| Homer Glen | — | — |
| Romeoville | — | $20.92 |
| Frankfort | — | $12.33 |
Commercial property in Orland Park, IL asks $231/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Orland Park?
Commercial property in Orland Park, IL asks an average of $231 per square foot.
How much does it cost to lease commercial space in Orland Park?
Asking lease rates in Orland Park, IL average $20.03 per square foot per year.
Is it cheaper to lease or buy commercial space in Orland Park?
Buying beats leasing in Orland Park, IL if the property is held longer than 1.9 years, comparing $20.03/SF/Yr asking rent with $231/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Orland Park market data come from?
Realmo compiles Orland Park, IL figures from 8 recent recorded sales, 104 active sale listings, 56 active lease listings, 1,210 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 104 active for-sale and 56 active for-lease listings in Orland 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
