For Sale
Wheeling, IL
Commercial Real Estate Market Trends & Data
$176
Avg asking sale price
$17
Avg asking lease rate
8,341 SF
Avg unit lease size
38,167 SF
Avg building size for sale
12.10%
Average cap rate
Wheeling's Demographic Profile
Wheeling has 15,240 households and a median income of $74,884, providing context for rent absorption and tenant demand across retail and multifamily assets. A -2% five-year population trend is a key signal for evaluating long-term demand in this market.
| Key Demographic Metric | Value |
|---|---|
| Population | 39,441 |
| # Households | 15,240 |
| Median age | 41 |
| Median household income | $74,884 |
| Avg household size | 3.0 |
| Renter-occupied housing units | 6,191 |
| 5-year population change | -2% |
{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Wheeling, IL
↻ Updated Monthly{{marketTabDescriptions[activeMarketTab]}}
| Nearby Office Markets | Avg Cost/SF | Typical Size | Cap Max |
|---|---|---|---|
| Wheeling | $147 | 22,978 SF | 12.10% |
| Prospect Heights | $107 | 41,545 SF | 12.10% |
| Buffalo Grove | $81 | 24,799 SF | 9.49% |
| Arlington Heights | $131 | 21,589 SF | 9.49% |
| Nearby Retail Markets | Avg Cost/SF | Typical Size |
|---|---|---|
| Wheeling | $252 | 35,427 SF |
| Prospect Heights | $318 | 51,226 SF |
| Buffalo Grove | $283 | 18,683 SF |
| Arlington Heights | $673 | 11,467 SF |
| Deerfield | $395 | 2,550 SF |
| Nearby Multifamily Markets | Avg Cost/SF | Typical Size | Cap Max |
|---|---|---|---|
| Arlington Heights | $288 | 66,069 SF | 5.73% |
| Glenview | $313 | 4,664 SF | 5.27% |
| Palatine | $288 | 66,069 SF | 5.73% |
Commercial Properties For Sale in Wheeling
The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale
For Sale
Average Price For Sale
↻ Updated MonthlyAverage Price For Lease
↻ Updated MonthlyNumber of Listings
↻ Updated MonthlyCap Rate
↻ Updated MonthlyHow Investors Evaluate Commercial Real Estate Markets
Nearby Commercial Markets
Comparing nearby markets helps investors see whether Wheeling pricing and building scale sit above, below, or in line with surrounding areas.
| Commercial Markets | Avg Cost/SF | Average Size |
|---|---|---|
| Wheeling | $176 | 38,167 SF |
| Prospect Heights | $193 | 45,603 SF |
| Buffalo Grove | $140 | 37,293 SF |
| Arlington Heights | $305 | 20,172 SF |
Regional Demographic Comparison
This comparison places Wheeling 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 Wheeling or distributed across surrounding areas.
| City | Population | # Households | Age | Median Household Income | Avg Household Size | Renter Occupied Housing Units | Five Yr Pop Growth % |
|---|---|---|---|---|---|---|---|
| Wheeling | 39,441 | 15,240 | 41 | $74,884 | 3 | 6,191 | -2% |
| Prospect Heights | 15,436 | 6,180 | 42 | $75,681 | 2 | 2,265 | -3% |
| Buffalo Grove | 41,644 | 15,633 | 44 | $123,170 | 3 | 3,009 | -2% |
| Riverwoods | 3,388 | 1,188 | 46 | $195,974 | 3 | 209 | -2% |
| Arlington Heights | 76,743 | 30,650 | 44 | $107,502 | 2 | 7,841 | -3% |
Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Wheeling, 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 Wheeling
View All Commercial Real Estate For Sale in Wheeling
Is Wheeling a good market for a first-time commercial real estate investor?
Wheeling 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 Wheeling?
The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Wheeling. 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 Wheeling?
Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Wheeling. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.
How does Wheeling compare to nearby commercial real estate markets?
Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Wheeling. 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 Wheeling acquisitions?
This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Wheeling, 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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