Commercial Real Estate Market in Vernon Hills, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
50 active listings and 618 off-market properties in Vernon Hills, IL. Commercial property asks $48/SF to buy and $17.13/SF/Yr to lease.
Market Trends
Vernon Hills, IL spans 8.4 square miles in Lake County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Vernon Hills, 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 Vernon Hills, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Vernon Hills, 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 Vernon Hills, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Vernon Hills, IL has 27,581 residents in 11,649 households. Density runs 3,300 people per square mile. Median household income here is $121,588 and median gross rent $1,862 a month.
27,581
Population
11,649
Households
2.4
Avg Household Size
41
Median Age
66%
College-Educated
96%
High-School Grad
8.4 sq mi
ZIP Area
3,300
Density / Sq Mi
$121,588
Median Household Income
$60,647
Median Earnings
$1,862
Median Rent
$390,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Indian Creek | — | — |
| Mettawa | — | — |
| Long Grove | — | — |
| Half Day | — | — |
Commercial property in Vernon Hills, IL asks $48/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Vernon Hills?
Commercial property in Vernon Hills, IL asks an average of $48 per square foot.
How much does it cost to lease commercial space in Vernon Hills?
Asking lease rates in Vernon Hills, IL average $17.13 per square foot per year.
Where does Realmo's Vernon Hills market data come from?
Realmo compiles Vernon Hills, IL figures from 6 recent recorded sales, 18 active sale listings, 32 active lease listings, 618 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 18 active for-sale and 32 active for-lease listings in Vernon Hills, 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
