Commercial Real Estate Market in Palatine, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
55 active listings and 1,018 off-market properties in Palatine, IL. Commercial property asks $144/SF to buy (based on 5 listings) and $24.50/SF/Yr to lease (based on 6 listings).
Market Trends
Palatine, IL spans 20.1 square miles in Cook County, Illinois. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Palatine, IL has a median asking sale price of $142/SF (based on 3 listings). Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Palatine, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Palatine, 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%.
Multifamily
Multifamily vacancy in Palatine, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 63.1%
- Planned_development 27.6%
- Commercial 5.5%
- Industrial 2.5%
Largest Zones share of zoned land by district
Palatine, IL zones 8,942 acres across 14 districts. Commercial zoning covers 5.5% of zoned land, residential 63.1% and industrial 2.5%. The largest single district is Single Family Residential at 37.6%. For commercial buyers the practical constraint is that only 8% of land carries a commercial or industrial designation.
The intent of this district is to promote single family dwellings
Market overview
Demographics & Economy
Palatine, IL has 77,029 residents in 30,992 households. Density runs 3,830 people per square mile. Median household income here is $102,158 and median gross rent $1,476 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Arlington Hts | $104 | $17.00 |
| Buffalo Grove | $173 | $15.00 |
| Schaumburg | $251 | $15.00 |
| Wheeling | $192 | $14.70 |
Commercial property in Palatine, IL asks $144/SF. The 4 bordering markets run from $104/SF in Arlington Hts to $251/SF in Schaumburg, and the city sits below their $182/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Palatine?
How much does it cost to lease commercial space in Palatine?
How does Palatine compare to nearby markets on price?
What zoning applies to commercial property in Palatine?
Where does Realmo's Palatine market data come from?
Methodology & data sources
- Asking prices and medians
- There are 25 active for-sale and 30 active for-lease listings in Palatine, IL. The medians are based on 5 of the for-sale and 6 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.
- Zoning and land use
- The current municipal zoning release: 8,942 zoned acres across 14 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 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
