Skokie, IL
Commercial Real Estate Market Trends & Data

$207 Avg asking sale price
$21 Avg asking lease rate
5,358 SF Avg unit lease size
17,697 SF Avg building size for sale
7.25% Average cap rate

Skokie's Demographic Profile

Skokie has 24,554 households and a median income of $81,042, 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 69,525
# Households 24,554
Median age 44
Median household income $81,042
Avg household size 3.0
Renter-occupied housing units 7,823
5-year population change -1%

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

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Skokie $202 9,631 SF 8.90%
Lincolnwood $107 32,472 SF 7.70%
Evanston $203 11,016 SF 8.90%
Morton Grove $430 2,848 SF 8.50%
Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Skokie $140 27,250 SF 8.90%
Evanston $156 20,214 SF 8.90%
Nearby Retail Markets Avg Cost/SF Typical Size
Skokie $267 6,309 SF
Lincolnwood $197 9,199 SF
Evanston $239 6,837 SF
Morton Grove $240 5,750 SF
Wilmette $213 6,690 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Skokie $239 7,227 SF 6.27%
Evanston $318 9,575 SF 7.25%
Des Plaines $207 13,000 SF 7.47%
Mount Prospect $207 14,000 SF 7.47%

Commercial Properties For Sale in Skokie

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

2958 Central Street, Evanston, IL 60201

Evanston, IL 60201

  • 0.10 AC Lot
  • 1 Commercial Lot
  • $450,000
For Sale

22,000SF OFFICE BUILDING / PRIME LOCATION

Lincolnwood, IL 60712

  • 22,000 SF Office Building
  • 7.70% Cap Rate
  • $2,400,000
For Sale

Live-Work Loft Community

Evanston, IL 60201

  • 19,750 SF Office Building
  • $3,750,000
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

Simon Brothers

Skokie, IL 60077

  • 30,000 SF Industrial Building
  • $2,699,000

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

Commercial Markets Avg Cost/SF Average Size
Skokie $207 17,697 SF
Lincolnwood $139 26,077 SF
Evanston $222 14,605 SF
Morton Grove $211 21,737 SF
Wilmette $183 20,567 SF

Regional Demographic Comparison

This comparison places Skokie 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 Skokie or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Skokie 69,525 24,554 44 $81,042 3 7,823 -1%
Lincolnwood 14,088 4,643 46 $95,582 3 783 -1%
Evanston 78,046 31,407 38 $88,721 2 14,872 -2%
Morton Grove 24,225 8,552 46 $93,314 3 1,088 -3%
Wilmette 27,753 9,736 46 $178,728 3 1,507 -2%

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

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

Skokie 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 Skokie?

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

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

How does Skokie compare to nearby commercial real estate markets?

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

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

Nearby Market Trends