Commercial Real Estate Market in Phoenix, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
92 active listings and 3,979 off-market properties in Phoenix, IL. Commercial property asks $89/SF to buy and $25.00/SF/Yr to lease.
Market Trends
Phoenix, IL spans 7.7 square miles in Cook County, Illinois. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Phoenix, 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 Phoenix, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Phoenix, 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 Phoenix, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Phoenix, IL has 24,114 residents in 10,870 households. Density runs 3,117 people per square mile. Median household income here is $40,995 and median gross rent $987 a month.
24,114
Population
10,870
Households
2.2
Avg Household Size
37
Median Age
10%
College-Educated
77%
High-School Grad
7.7 sq mi
ZIP Area
3,117
Density / Sq Mi
$40,995
Median Household Income
$29,712
Median Earnings
$987
Median Rent
$88,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| South Holland | — | — |
| Dixmoor | — | — |
| Dolton | — | — |
| East Hazel Crest | — | $33.39 |
Commercial property in Phoenix, IL asks $89/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Phoenix?
Commercial property in Phoenix, IL asks an average of $89 per square foot.
How much does it cost to lease commercial space in Phoenix?
Asking lease rates in Phoenix, IL average $25.00 per square foot per year.
Where does Realmo's Phoenix market data come from?
Realmo compiles Phoenix, IL figures from 7 recent recorded sales, 86 active sale listings, 6 active lease listings, 3,979 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 86 active for-sale and 6 active for-lease listings in Phoenix, 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 30 September 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 30 September 2026 · report a data issue
