Commercial Real Estate Market in Summit, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
15 active listings and 959 off-market properties in Summit, IL.
Market Trends
Summit, IL spans 4.4 square miles in Cook County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Summit, 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 Summit, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Summit, 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 Summit, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Industrial 58.9%
- Residential 26.6%
- Civic 8.2%
- Commercial 5.2%
- Mixed use 1.2%
Largest Zones share of zoned land by district
General Industrial
Limited Industrial
Single Family Residential
Light Industrial
Public And Institutional District
Summit, IL zones 1,380 acres across 11 districts. Commercial zoning covers 5.2% of zoned land, residential 26.6% and industrial 58.9%. The largest single district is General Industrial at 34%. For commercial buyers the practical constraint is that only 64% of land carries a commercial or industrial designation.
Single Family Residential (R-1)
R-1 district or assign another zoning classification based on the comprehensive plan, existing land uses, any applicable annexation agreement and other relevant considerations. Split-Zoned Lots 1 : The zoning map may not be amended to classify a single lot into 2 or more base zoning districts. The split zoning of any newly created lot (into more than one bas…
Market overview
Demographics & Economy
Summit, IL has 11,746 residents in 4,134 households. Density runs 2,697 people per square mile. Median household income here is $62,110 and median gross rent $1,017 a month.
11,746
Population
4,134
Households
2.8
Avg Household Size
34
Median Age
13%
College-Educated
69%
High-School Grad
4.4 sq mi
ZIP Area
2,697
Density / Sq Mi
$62,110
Median Household Income
$34,728
Median Earnings
$1,017
Median Rent
$227,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Forest View | — | — |
| Lyons | — | — |
| La Grange | — | — |
| Brookfield | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Summit?
Summit, IL zones 1,380 acres across 11 districts, of which 5.2% is commercial and 58.9% industrial. The largest single district is General Industrial at 34% of zoned land. Residential zoning covers 26.6% and open space 0%.
Where does Realmo's Summit market data come from?
Realmo compiles Summit, IL figures from 4 recent recorded sales, 8 active sale listings, 7 active lease listings, 959 tracked off-market properties, the current Summit zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 8 active for-sale and 7 active for-lease listings in Summit, 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.
- Zoning and land use
- The current municipal zoning release: 1,380 zoned acres across 11 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 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
