Commercial Real Estate Market in Westchester, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
568 active listings and 8,741 off-market properties in Westchester, IL. Commercial property asks $403/SF to buy and $15.73/SF/Yr to lease.
Market Trends
Westchester, IL spans 4.4 square miles in Sangamon County, Illinois. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Westchester, 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 Westchester, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Westchester, 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 Westchester, 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
- Residential 93.9%
- Commercial 5.3%
- Industrial 0.8%
Largest Zones share of zoned land by district
1 Family Residence
Restricted Business
2 Family Residence
3 To 6 Family Residence
Industry
Westchester, IL zones 2,271 acres across 9 districts. Commercial zoning covers 5.3% of zoned land, residential 93.9% and industrial 0.8%. The largest single district is 1 Family Residence at 87.8%. For commercial buyers the practical constraint is that only 6.1% of land carries a commercial or industrial designation.
1 Family Residence (R-1)
The purpose of this district is to provide areas for single-family residential dwellings in a low-density
Market overview
Demographics & Economy
Westchester, IL has 16,895 residents in 7,376 households. Density runs 3,874 people per square mile. Median household income here is $103,561 and median gross rent $1,767 a month.
16,895
Population
7,376
Households
2.3
Avg Household Size
48
Median Age
46%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
3,874
Density / Sq Mi
$103,561
Median Household Income
$60,967
Median Earnings
$1,767
Median Rent
$297,400
Median Home Value
Tools
Lease vs Buy Breakeven
At $15.73/SF/Yr lease vs $403/SF buy → buying wins if held > 21.5 years.
At a 3.9% 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
Commercial property in Westchester, IL asks $403/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Westchester?
Commercial property in Westchester, IL asks an average of $403 per square foot.
How much does it cost to lease commercial space in Westchester?
Asking lease rates in Westchester, IL average $15.73 per square foot per year.
Is it cheaper to lease or buy commercial space in Westchester?
Buying beats leasing in Westchester, IL if the property is held longer than 21.5 years, comparing $15.73/SF/Yr asking rent with $403/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.
What zoning applies to commercial property in Westchester?
Westchester, IL zones 2,271 acres across 9 districts, of which 5.3% is commercial and 0.8% industrial. The largest single district is 1 Family Residence at 87.8% of zoned land. The purpose of this district is to provide areas for single-family residential dwellings in a low-density Residential zoning covers 93.9% and open space 0%.
Where does Realmo's Westchester market data come from?
Realmo compiles Westchester, IL figures from 8 recent recorded sales, 417 active sale listings, 151 active lease listings, 8,741 tracked off-market properties, the current Westchester zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 417 active for-sale and 151 active for-lease listings in Westchester, 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: 2,271 zoned acres across 9 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 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
