North Chicago, IL
Commercial Real Estate Market Trends & Data

$171 Avg asking sale price
$1,818 Avg asking lease rate
20,171 SF Avg unit lease size
36,863 SF Avg building size for sale
8.30% Average cap rate

North Chicago's Demographic Profile

North Chicago has 7,032 households and a median income of $50,271, providing context for rent absorption and tenant demand across retail and multifamily assets. A 0% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 25,960
# Households 7,032
Median age 29
Median household income $50,271
Avg household size 3.0
Renter-occupied housing units 4,699
5-year population change 0%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near North Chicago, IL

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
North Chicago $111 6,679 SF 7.12%
Lake Bluff $160 6,006 SF 7.12%
Green Oaks $139 16,322 SF 7.12%
Waukegan $142 5,186 SF 1.06%
Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
North Chicago $97 79,880 SF 9.62%
Great Lakes $107 96,375 SF 9.62%
Abbott Park $88 95,016 SF 9.62%
Lake Bluff $116 52,800 SF 9.62%
Green Oaks $155 23,917 SF 9.62%
Nearby Retail Markets Avg Cost/SF Typical Size
North Chicago $235 8,460 SF
Abbott Park $270 9,525 SF
Lake Bluff $237 4,200 SF
Green Oaks $237 4,200 SF
Park City $583 3,000 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
North Chicago $197 6,544 SF 9.54%
Waukegan $197 6,544 SF 9.54%

Commercial Properties For Sale in North Chicago

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

2619 Martin Luther King Jr Dr

North Chicago, IL 60064

  • 10,057 SF Office Building
  • $400,000
For Sale

226 S Sheridan Rd

Waukegan, IL 60085

  • 3,700 SF Retail Building
  • $475,000
For Sale

Lakeside Center

Waukegan, IL 60085

  • 26,000 SF Retail Building
  • $1,550,000
For Sale

33 Waukegan Rd

Lake Bluff, IL 60044

  • 7,812 SF Office Building
  • $650,000
For Sale

Chick-Fil-A

Waukegan, IL 60085

  • 5,222 SF Retail Building
  • 4.25% Cap Rate
  • $3,235,294
For Sale

Nosco Inc

Waukegan, IL 60085

  • 89,581 SF Industrial Building
  • $1,900,000

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 North Chicago pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
North Chicago $171 36,863 SF
Great Lakes $107 96,375 SF
Abbott Park $186 44,643 SF
Lake Bluff $110 43,802 SF
Green Oaks $128 24,121 SF

Regional Demographic Comparison

This comparison places North 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 North Chicago or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Great Lakes 9,546 1,358 25 $51,053 3 1,340 2%
Abbott Park 14,633 4,857 33 $44,606 3 2,837 -2%
Lake Bluff 5,341 1,981 45 $182,244 3 266 -1%

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

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

North 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 North Chicago?

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

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

How does North Chicago compare to nearby commercial real estate markets?

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

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