Vernon Hills, IL
Commercial Real Estate Market Trends & Data

$218 Avg asking sale price
$113 Avg asking lease rate
45,542 SF Avg unit lease size
69,525 SF Avg building size for sale
4.75% Average cap rate

Vernon Hills's Demographic Profile

Vernon Hills has 10,462 households and a median income of $115,548, 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 27,535
# Households 10,462
Median age 43
Median household income $115,548
Avg household size 3.0
Renter-occupied housing units 3,476
5-year population change 0%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Vernon Hills, IL

↻ Updated Monthly

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Nearby Retail Markets Avg Cost/SF Typical Size
Vernon Hills $113 30,312 SF
Long Grove $527 14,494 SF
Libertyville $79 39,424 SF
Lincolnshire $264 33,995 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
North Chicago $197 6,544 SF 9.54%
Abbott Park $278 6,544 SF 9.54%
Palatine $288 66,069 SF 5.73%
Waukegan $197 6,544 SF 9.54%

Commercial Properties For Sale in Vernon Hills

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

Raising Cane's

Vernon Hills, IL 60061

  • 3,454 SF Retail Building
  • 4.75% Cap Rate
  • $3,578,947
For Sale

426-450 S Milwaukee Ave

Libertyville, IL 60048

  • 0.81 AC Lot
  • 1 Commercial Lot
  • $1,995,000
For Sale

600 E Bunker Ct

Vernon Hills, IL 60061

  • 44,315 SF Industrial Building
  • $5,495,000
For Sale

330 + 332 Brainerd & 226 + 220 + 212 W. Maple

Libertyville, IL 60048

  • 1.49 AC Lot
  • 1 Residential Income Lot
  • $2,399,000
For Sale

AREA Commercial Corner

Mundelein, IL 60060

  • 0.43 AC Lot
  • 1 Commercial Lot
  • $286,000
For Sale

1760 N Milwaukee Ave

Vernon Hills, IL 60061

  • 1.52 AC Lot
  • 1 Commercial Lot
  • $996,304

Average Price For Sale

↻ Updated Monthly

Average Size 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 Vernon Hills pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Vernon Hills $218 69,525 SF
Mettawa $112 76,065 SF
Long Grove $437 19,369 SF
Libertyville $230 42,795 SF
Lincolnshire $153 63,934 SF

Regional Demographic Comparison

This comparison places Vernon Hills 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 Vernon Hills or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Mettawa 760 253 53 $139,285 3 30 5%
Long Grove 11,735 3,833 46 $200,417 3 444 4%
Libertyville 20,525 7,660 44 $154,487 3 1,641 -1%

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

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

Vernon Hills 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 Vernon Hills?

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

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

How does Vernon Hills compare to nearby commercial real estate markets?

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

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