For Sale
Homewood, IL
Commercial Real Estate Market Trends & Data
$317
Avg asking sale price
$25
Avg asking lease rate
4,092 SF
Avg unit lease size
14,533 SF
Avg building size for sale
8.22%
Average cap rate
Homewood's Demographic Profile
Homewood has 7,352 households and a median income of $78,567, providing context for rent absorption and tenant demand across retail and multifamily assets. A -3% five-year population trend is a key signal for evaluating long-term demand in this market.
| Key Demographic Metric | Value |
|---|---|
| Population | 19,099 |
| # Households | 7,352 |
| Median age | 43 |
| Median household income | $78,567 |
| Avg household size | 3.0 |
| Renter-occupied housing units | 1,537 |
| 5-year population change | -3% |
{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Homewood, IL
↻ Updated Monthly{{marketTabDescriptions[activeMarketTab]}}
| Nearby Retail Markets | Avg Cost/SF | Typical Size |
|---|---|---|
| Homewood | $406 | 14,640 SF |
| Hazel Crest | $747 | 8,925 SF |
| Flossmoor | $112 | 9,463 SF |
| East Hazel Crest | $96 | 18,310 SF |
| Country Club Hills | $747 | 7,051 SF |
| Nearby Multifamily Markets | Avg Cost/SF | Typical Size | Cap Max |
|---|---|---|---|
| Harvey | $99 | 14,810 SF | 8.51% |
| South Holland | $88 | 6,500 SF | 7.84% |
Commercial Properties For Sale in Homewood
The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale
Average Price For Sale
↻ Updated MonthlyAverage Price For Lease
↻ Updated MonthlyNumber of Listings
↻ Updated MonthlyCap Rate
↻ Updated MonthlyHow Investors Evaluate Commercial Real Estate Markets
Nearby Commercial Markets
Comparing nearby markets helps investors see whether Homewood pricing and building scale sit above, below, or in line with surrounding areas.
| Commercial Markets | Avg Cost/SF | Average Size |
|---|---|---|
| Homewood | $317 | 14,533 SF |
| Hazel Crest | $422 | 8,402 SF |
| Flossmoor | $156 | 9,463 SF |
| East Hazel Crest | $143 | 13,919 SF |
| Country Club Hills | $542 | 5,825 SF |
Regional Demographic Comparison
This comparison places Homewood 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 Homewood or distributed across surrounding areas.
| City | Population | # Households | Age | Median Household Income | Avg Household Size | Renter Occupied Housing Units | Five Yr Pop Growth % |
|---|---|---|---|---|---|---|---|
| Homewood | 19,099 | 7,352 | 43 | $78,567 | 3 | 1,537 | -3% |
| Hazel Crest | 13,785 | 4,908 | 40 | $56,883 | 3 | 1,623 | -1% |
| Flossmoor | 9,284 | 3,353 | 46 | $125,231 | 3 | 358 | -3% |
| East Hazel Crest | 1,285 | 543 | 43 | $56,428 | 2 | 215 | -2% |
| Country Club Hills | 16,746 | 5,700 | 40 | $67,849 | 3 | 1,714 | -2% |
Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Homewood, IL and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.
FAQs About Commercial Investing in Homewood
View All Commercial Real Estate For Sale in Homewood
Is Homewood a good market for a first-time commercial real estate investor?
Homewood 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 Homewood?
The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Homewood. 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 Homewood?
Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Homewood. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.
How does Homewood compare to nearby commercial real estate markets?
Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Homewood. 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 Homewood acquisitions?
This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Homewood, 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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