Wheeling, IL
Commercial Real Estate Market Trends & Data

$229 Avg asking sale price
$18 Avg asking lease rate
6,423 SF Avg unit lease size
34,473 SF Avg building size for sale
9.18% 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

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Wheeling $155 22,978 SF 12.10%
Prospect Heights $150 41,545 SF 12.10%
Buffalo Grove $86 24,732 SF 9.49%
Arlington Heights $133 22,991 SF 9.49%
Nearby Retail Markets Avg Cost/SF Typical Size
Wheeling $358 31,897 SF
Prospect Heights $553 41,718 SF
Buffalo Grove $307 29,743 SF
Riverwoods $193 25,367 SF
Arlington Heights $519 12,673 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Mount Prospect $207 14,000 SF 7.47%
Des Plaines $207 13,000 SF 7.47%
Skokie $239 7,227 SF 6.27%
Evanston $443 9,575 SF 7.25%

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

Free Standing Building-15,662 SF

Wheeling, IL 60090

  • 15,662 SF Industrial Building
  • $1,699,000
For Sale

1048 S Milwaukee Ave

Wheeling, IL 60090

  • 3,686 SF Retail Building
  • 6.25% Cap Rate
  • $2,906,000
For Sale

275 W Dundee Rd

Buffalo Grove, IL 60089

  • 3,000 SF Office Building
  • $375,000
For Sale

47 W Dundee Rd

Wheeling, IL 60090

  • 8,800 SF Office Building
  • $925,000
For Sale

Tesla Sales, Service & Delivery

Buffalo Grove, IL 60089

  • 50,720 SF Retail Building
  • $29,028,000
For Sale

3.2-Acre TIF-Backed Development I Wheeling

Wheeling, IL 60090

  • 3.20 AC Lot
  • 1 Commercial Lot
  • $1,800,000

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

Commercial Markets Avg Cost/SF Average Size
Wheeling $229 34,473 SF
Prospect Heights $291 42,609 SF
Buffalo Grove $147 43,318 SF
Riverwoods $193 55,092 SF
Arlington Heights $256 18,639 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.

Nearby Market Trends