Niles, IL
Commercial Real Estate Market Trends & Data

$232 Avg asking sale price
$103 Avg asking lease rate
11,672 SF Avg unit lease size
12,742 SF Avg building size for sale
6.26% Average cap rate

Niles's Demographic Profile

Niles has 11,985 households and a median income of $74,556, 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 31,104
# Households 11,985
Median age 49
Median household income $74,556
Avg household size 2.0
Renter-occupied housing units 3,383
5-year population change -3%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Niles, IL

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Morton Grove $307 3,138 SF 8.50%
Park Ridge $154 117,043 SF 3.25%
Skokie $297 9,221 SF 8.72%
Glenview $213 14,759 SF 7.00%
Nearby Retail Markets Avg Cost/SF Typical Size
Niles $263 8,688 SF
Morton Grove $250 7,200 SF
Park Ridge $390 6,615 SF
Skokie $254 6,350 SF
Glenview $258 68,272 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Niles $230 4,029 SF 5.27%
Morton Grove $230 4,029 SF 5.27%
Skokie $239 7,227 SF 6.27%
Glenview $441 4,664 SF 5.27%

Commercial Properties For Sale in Niles

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

Super 8 Morton Grove/Chicago

Morton Grove, IL 60053

  • 19,562 SF Hospitality
  • $3,800,000
For Sale

Stabilized 6-Unit Multi Family Investment

Niles, IL 60714

  • 4,029 SF Multifamily
  • 5.27% Cap Rate
  • $925,000
For Sale

5337-5353 W Devon Ave

Chicago, IL 60646

  • 10,758 SF Retail Building
  • 4.76% Cap Rate
  • $1,750,000
For Sale

2-Tenant Touhy Avenue Retail

Skokie, IL 60077

  • 6,150 SF Retail Building
  • 6.25% Cap Rate
  • $4,410,000
For Sale

Park Ridge Commercial Property

Park Ridge, IL 60068

  • 10,186 SF Office Building
  • $928,000
For Sale

Skokie warehouse building

Skokie, IL 60077

  • 6,800 SF Industrial Building
  • $675,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

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

Commercial Markets Avg Cost/SF Average Size
Niles $232 12,742 SF
Morton Grove $222 19,579 SF
Park Ridge $329 79,401 SF
Skokie $210 16,735 SF
Glenview $223 65,271 SF

Regional Demographic Comparison

This comparison places Niles 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 Niles or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Niles 31,104 11,985 49 $74,556 2 3,383 -3%
Morton Grove 24,225 8,552 46 $93,314 3 1,088 -3%
Park Ridge 38,711 14,168 45 $127,945 3 2,391 -3%
Skokie 69,525 24,554 44 $81,042 3 7,823 -1%
Glenview 48,408 17,577 47 $125,767 3 3,623 -2%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Niles, 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 Niles

View All Commercial Real Estate For Sale in Niles
Is Niles a good market for a first-time commercial real estate investor?

Niles 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 Niles?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Niles. 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 Niles?

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

How does Niles compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Niles. 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 Niles acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Niles, 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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