Park Forest, IL
Commercial Real Estate Market Trends & Data

$170 Avg asking sale price
$16 Avg asking lease rate
13,131 SF Avg unit lease size
63,355 SF Avg building size for sale
7.80% Average cap rate

Park Forest's Demographic Profile

Park Forest has 8,978 households and a median income of $58,505, providing context for rent absorption and tenant demand across retail and multifamily assets. A -1% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 22,319
# Households 8,978
Median age 40
Median household income $58,505
Avg household size 2.0
Renter-occupied housing units 3,312
5-year population change -1%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Park Forest, IL

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Nearby Retail Markets Avg Cost/SF Typical Size
Park Forest $307 38,742 SF
University Park $375 23,655 SF
South Chicago Heights $122 6,538 SF
Olympia Fields $268 30,625 SF
Steger $103 7,564 SF

Commercial Properties For Sale in Park Forest

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

80-90 North St

Park Forest, IL 60466

  • 123,600 SF Industrial Building
  • $5,500,000
For Sale

474 W 14th Pl

Chicago Heights, IL 60411

  • 6,200 SF Multifamily
  • $675,000
For Sale

5.75± Acres R-2 Residential Development Site

Matteson, IL 60443

  • 5.75 AC Lot
  • 1 Residential Income Lot
  • $450,000
For Sale

CVS Pharmacy

Olympia Fields, IL 60461

  • 13,225 SF Retail Building
  • 7.80% Cap Rate
  • $5,921,000
For Sale

3624 216th St

Matteson, IL 60443

  • 2,480 SF Office Building
  • $200,000
For Sale

Storage Development Site

Olympia Fields, IL 60461

  • 7.13 AC Lot
  • 1 Industrial Lot
  • $750,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

How Investors Evaluate Commercial Real Estate Markets

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Multifamily vs. Single-Family Investing ROI
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CapEx in Commercial Real Estate
CapEx in Commercial Real Estate
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Internal Rate of Return (IRR) Calculator
Internal Rate of Return (IRR) Calculator
Use this calculator to measure annualized returns, compare investment scenarios, and evaluate risk across commercial real estate deals.
What is a Ground Lease?
What is a Ground Lease?
Understanding the Nuances of Ground and Land Leases
Master Lease Strategies
Master Lease Strategies
Maximizing Control and Income with Flexible Leasing Solutions
How to Find Industrial Tenants for Your Property
How to Find Industrial Tenants for Your Property
A practical guide to finding qualified industrial tenants, from building your tenant profile to tenant screening and closing the lease.
Bonus Depreciation
Bonus Depreciation
A practical guide to using bonus depreciation to reduce tax liability, improve cash flow, and plan property improvements with timing strategies in mind.
Accelerated Depreciation in Commercial Real Estate
Accelerated Depreciation in Commercial Real Estate
Understand how accelerated depreciation works, which method fits your deal, and how to avoid the tax pitfalls that catch most investors off guard.

Nearby Commercial Markets

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

Commercial Markets Avg Cost/SF Average Size
Park Forest $170 63,355 SF
University Park $375 173,875 SF
South Chicago Heights $80 8,710 SF
Olympia Fields $214 50,188 SF
Steger $88 19,306 SF

Regional Demographic Comparison

This comparison places Park Forest 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 Park Forest or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Park Forest 22,319 8,978 40 $58,505 2 3,312 -1%
University Park 7,490 2,665 35 $66,228 3 1,252 1%
South Chicago Heights 4,065 1,511 38 $44,940 3 549 -2%
Olympia Fields 5,069 1,860 53 $87,790 3 262 -1%

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

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

Park Forest 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 Park Forest?

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

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

How does Park Forest compare to nearby commercial real estate markets?

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

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