Chicago, IL Commercial Real Estate Market Trends

Commercial Real Estate Market Report

This page provides a high-level view of commercial real estate conditions in Chicago, combining current pricing, property scale, and active inventory to support early market evaluation.

Explore Commercial Properties in Chicago

Browse properties currently for sale or lease to see how local market pricing and building sizes translate into real opportunities.

Commercial Property For Sale in Chicago

Commercial Property For Rent in Chicago

Chicago's Demographic Profile

With a population of 2,527,917 and a median household income of $69,230, these metrics help investors gauge whether Chicago's pricing reflects local demand fundamentals.

Key Demographic Metrics	Value
Population	2,527,917
# Households	1,061,002
Median age	37
Median household income	$69,230
Avg household size	2
Renter-occupied housing units	627,070
5-year population change	-5%

Commercial Real Estate Market Snapshot in Chicago

These market metrics outline current pricing, typical deal size, and observed cap rate ranges, giving investors a quick read on entry costs and high-level underwriting expectations.

Key Market Metrics	Value
Avg asking sale price	$204 per SF
Avg asking lease rate	$27 per SF
Avg unit size for lease	13,851 SF
Avg building size for sale	28,333 SF
Average cap rate	8.17%

In Chicago, commercial properties are currently listed at an average sale price of $204 per square foot, with average lease rates around $27 per square foot. Typical leased spaces are approximately 13,851 SF, while properties for sale average 28,333 SF in building size. Observed cap rates average 8.17%, offering a reference point for return expectations relative to pricing and deal scale.

Commercial Properties For Sale In Chicago

The listings below reflect how current market pricing and building scale translate into active opportunities available today.

For Sale

Former KFC | QSR In Retail Corridor

Chicago, IL 60620

3,712 SF Retail Building
Auction Sale

For Sale

Southview Manor - Vacant SNF

Chicago, IL 60616

48,450 SF Health Care Building
Auction Sale

For Sale

Historic Property Multifamily Revitalization

Chicago, IL 60632

57,000 SF Retail Building
Auction Sale

For Sale

11608 Copenhagen Ct

Franklin Park, IL 60131

88,158 SF Industrial Building
$7,052,640

For Sale

Patriot Development of Chicago

Chicago, IL

For Sale

225 W Superior St

Chicago, IL 60654

42,000 SF Office Building

For Sale

3020 E 104th St

Chicago, IL 60617

45,000 SF Industrial Building

For Sale

217 N Wolcott Ave

Chicago, IL 60612

0.28 AC Lot
1 Industrial Lot
$949,999

Commercial Market Metrics by Property Type

Office Building Market Metrics Near Chicago

Office market metrics highlight how pricing, typical deal size, and return expectations vary across submarkets, helping investors compare entry costs and yield potential efficiently.

Nearby Office Markets	Avg Cost/SF	Typical Size	Cap Max
Chicago	$206	19,080 SF	18.05%
Oak Park	$140	17,335 SF	9.62%

Industrial Property Market Metrics Near Chicago

Industrial market data shows how cost per square foot and typical building size differ by submarket, supporting comparisons around deal scale and pricing alignment.

Nearby Industrial Markets	Avg Cost/SF	Typical Size	Cap Max
Chicago	$157	48,627 SF	11.00%
Forest Park	$87	115,345 SF	7.46%

Retail Property Market Metrics Near Chicago

Retail pricing varies widely across nearby markets, making this comparison useful for identifying where cost per square foot and deal size diverge most.

Nearby Retail Markets	Avg Cost/SF	Typical Size
Chicago	$279	14,028 SF
Cicero	$245	7,940 SF
Berwyn	$245	16,532 SF
Oak Park	$257	10,857 SF
Forest Park	$370	12,148 SF

Multifamily Property Market Metrics Near Chicago

Multifamily metrics show how pricing and building size relate to observed cap rate ranges, helping investors evaluate income potential relative to entry cost.

Nearby Multifamily Markets	Avg Cost/SF	Typical Size	Cap Max
Chicago	$174	31,928 SF	14.10%
Calumet Park	$98	30,942 SF	9.34%
Blue Island	$101	34,677 SF	10.66%

How Investors Evaluate Commercial Real Estate Markets in Chicago

Use these tools to move from market-level signals to deal-level math. Each calculator helps translate Chicago pricing, rents, and building size into concrete metrics like value, income, and space requirements, so you can validate assumptions before spending time on individual listings.

Commercial Property Valuation

Understand Core Valuation Methods, Prevent Mistakes, and Use Our Instant Value Estimator

What Is a Cap Rate?

How To Calculate This Critical CRE Investment Metric and Why It Matters

Net Operating Income (NOI) Calculator

Calculating NOI and Understanding the Significance of This Metric in Commercial Real Estate Investment

Internal Rate of Return (IRR) Calculator

Use this calculator to measure annualized returns, compare investment scenarios, and evaluate risk across commercial real estate deals.

Cash on Cash Return

Learn How Cash on Cash Return Can Optimize Your Real Estate Investments

Debt Service Coverage Ratio (DSCR) Calculator

Assess Your Investment's Health in Seconds

Gross Rent Multiplier (GRM) Calculator & Investment Guide

Simplifying Your Investment Analysis

Land Loan Calculator

Use this calculator to estimate monthly payments, interest, and total financing costs for raw, unimproved, or improved land purchases.

Balloon Payment Calculator

Use this calculator to estimate monthly payments, total interest, and the final lump-sum balloon payment for commercial real estate loans.

Office Space Calculator

Estimate How Much Space Your Team Really Needs

Nearby Commercial Markets

Comparing nearby markets helps investors see whether Chicago pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets	Avg Cost/SF	Average Size
Chicago	$204	28,333 SF
Cicero	$231	30,980 SF
Berwyn	$231	14,067 SF
Lyons	$256	16,669 SF
Riverside	$203	24,275 SF

Multifamily For Sale In Chicago

Multifamily listings shown here connect market pricing and cap rate patterns with income-producing opportunities currently available.

For Sale

7102-7106 S Jeffery Blvd

Chicago, IL 60649

52,193 SF Multifamily
10.40% Cap Rate
$4,100,000

For Sale

Woodlawn Apartments

Chicago, IL 60615

32,500 SF Multifamily
$5,100,000

For Sale

4924 S Martin Luther King Dr

Chicago, IL 60615

11,676 SF Multifamily
$1,400,000

For Sale

5630 N Broadway St

Chicago, IL 60660

8,000 SF Multifamily
$420,000

For Sale

7719 S Kingston Ave

Chicago, IL 60649

10,800 SF Multifamily
$500,000

For Sale

8209 S Evans Ave

Chicago, IL 60619

10,000 SF Multifamily
10.84% Cap Rate
$775,000

For Sale

Pullman Palace

Chicago, IL 60628

21,030 SF Multifamily
8.61% Cap Rate
$2,000,000

For Sale

900-910 Chicago Ave

Evanston, IL 60202

89,780 SF Multifamily
6.65% Cap Rate
$3,100,000

Regional Demographic Comparison

This comparison places Chicago alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Chicago or distributed across surrounding areas.

City	Population	# Households	Age	MedianHouseholdIncome	AvgHouseholdSize	RenterOccupiedHousingUnits	FiveYrPopGrowthPct
Chicago	2,527,917	1,061,002	37	$69,230	2	627,070	-5%
Cicero	65,761	18,416	34	$59,574	3	9,359	-11%
Berwyn	50,840	17,221	38	$69,215	3	7,267	-6%
Lyons	10,471	3,937	40	$67,660	3	1,595	-3%
Riverside	8,938	3,361	44	$128,947	3	747	-3%

FAQs About Commercial Investing in Chicago

View All Commercial Real Estate For Sale in Chicago

Is Chicago a good market for a first-time commercial real estate investor?

Chicago offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Chicago?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Chicago. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Chicago?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Chicago. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Chicago compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Chicago. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Chicago acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Chicago, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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