Prospect Heights, IL Commercial Real Estate for Lease and Sale

Explore 15 listings of Prospect Heights commercial real estate for lease and for sale to find the best space for your business.

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High Visibility Development Opportunity

309 E Palatine Road, Prospect Heights, IL
Property

VacantLand
For Sale

$895,000
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1313 East Rand Road

1313 E Rand Rd, Prospect Heights, Arlington Heights, IL
Property

Retail

6,731 SF
Availability

2 Spaces

6,731 SF
For Lease

$15.00/SF/YR
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Prospect Crossing Shopping Center

1241 North Rand Road, Prospect Heights, IL
Property

Retail

176,000 SF
Availability

1 Space

2,240 SF
Year Built

1990
For Lease

$14.00/SF/YR
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LocalWorks Wheeling
LocalWorks
1400 South Wolf Road, Wheeling, IL
Services

Virtual Office

Private Office

Dedicated Desk
Amenities

Complimentary coffee & tea

High-speed wifi

Printer
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291 North Dunton Avenue
Enclave
291 North Dunton Avenue, Arlington Heights, IL
Services

Open Workspace

Meeting Room

Private Office

Dedicated Desk
Amenities

Bar

Cleaning services

Complimentary coffee & tea

High-speed wifi

Lockers

Printer

Privacy booths

TV/Monitor
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Southpoint Shopping Center

SEC Rand Road & Palatine Road, Arlington Heights, IL
Property

Retail

62,524 SF
Availability

1 Space

11,841 SF
For Lease Contact for pricing
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1475 South Wheeling Road

1475 South Wheeling Road, Wheeling, IL
Property

Industrial

53,957 SF
Availability

1 Space

53,957 SF
Year Built

1977
For Lease Contact for pricing
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1475 South Wheeling Road

1475 South Wheeling Road, Wheeling, IL
Property

Industrial

53,957 SF
Year Built

1977
For Sale Contact for pricing
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65,488-186,600 SF Available for Lease in Wheeling

1175 Wheeling Rd, Wheeling, IL
Property

Industrial

186,600 SF
Availability

1 Space

186,600 SF
Year Built

1965
For Lease Contact for pricing
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Under Contract - 58,100 SF Available for Sale in Wheeling

1-5 Messner Dr, Wheeling, IL
Property

Industrial

58,100 SF
Year Built

1978
For Sale Contact for pricing
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1111 South Wheeling Road

1111 South Wheeling Road, Wheeling, IL
Property

Industrial

126,428 SF
Availability

1 Space

126,428 SF
Year Built

1968
For Lease Contact for pricing
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1 Randhurst Village Dr

1 Randhurst Village Dr, Mount Prospect, IL
Property

Retail

251,049 SF
Availability

27 Spaces

251,049 SF
For Lease Contact for pricing
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1400 South Wolf Road - Building 500

1400 South Wolf Road, Wheeling, IL
Property

Office

42,073 SF
Availability

7 Spaces

14,159 SF
Year Built

1989
For Lease Contact for pricing
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1033 Noel Ave

1033 Noel Ave, Wheeling, IL
Property

Industrial

96,959 SF
Year Built

1965
For Sale

$5,325,000
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44 South Vail Avenue
The Exchange at 44 Vail
44 South Vail Avenue, Arlington Heights, IL
Services

Event Space

Meeting Room

Private Office
Amenities

Accessible

Bike storage

Complimentary coffee & tea

High-speed internet

Lockers

Mother’s room

Shower
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Frequently Asked Questions

Commercial real estate is a broad category that includes a high variety of space types designed to meet the needs of various industries of the local economy and their specialized subsectors, as presented in our real estate 101 guide to types of commercial real estate. However, there are three main categories that you are most likely to come across: office, retail, and industrial space.

Modern office space is typically organized over large floor plates bound by high ceilings and large windows for an abundance of natural light and is located in transit-oriented developments with good access to multiple modes of transportation, so as to facilitate employee commute.

Office buildings can also accommodate coworking spaces, which are shared office options that typically cater to the needs of small, startup businesses that require flexible workspaces, a concentration of amenities, and services that can be accessed on an occasional or short-term basis.
Retail space includes shopping malls, department stores, street retail, or specialty stores dedicated to a narrow range of products. Such properties are typically located in high foot-traffic and/or car traffic areas, to facilitate customer access. The Prospect Heights commercial real estate market includes 182,731 square feet of retail space in a variety of settings.
Industrial property most often serves businesses operating in manufacturing or logistics and generally consists of large open spaces located within good access to roads, railways, freight airports or regional water ports. Industrial space listings can include warehouses, manufacturing plants, distribution centers, flexible industrial space, or even data center facilities.

The listing inventory in Prospect Heights incorporates commercial real estate for lease and for sale of almost all property types and subtypes. However, you’ll find some categories offer more rental or investment opportunities than others.

The largest share of commercial real estate space for lease in Prospect Heights is represented by Retail space, which accounts for 8,971 square feet of available listings.

Meanwhile, most of the listings of commercial property for sale in Prospect Heights are in the Office category.

The price of renting or buying commercial real estate is influenced by a variety of factors, including: the property type (for example, office space is priced higher than other property types in most locations); the condition and asset class rating (property rated class A or above will typically command a higher price than lower grade classifications); the quality or the development potential of the property location; whether or not there is high demand for the type of commercial asset in question; and what the state of supply is relative to demand.

Whether you are looking for commercial real estate for lease or commercial property for sale, the best choice of location depends on the factors that are most relevant to your business strategy. A good thing to look for at the start, however, is the areas of the city that have the highest concentration of your preferred type of property, as these areas are generally well connected to the amenities and points of interest that are most relevant to each property type.

As such, there are several areas that you could consider to be the best location for commercial real estate in Prospect Heights, depending on the property type you are interested in.

Select your preferred property type from the search filters menu at the top of the search page and then navigate the interactive map for a better view of commercial real estate availability in the locations most suited to your needs.

Regardless of whether buying or leasing commercial space is a new experience for you, there are significant benefits to working with a commercial real estate broker. In addition to saving you time and money, an experienced broker will contribute specialist knowledge of the local market, the property type you need representation for, and will handle negotiations on your behalf in your best interest.

To start, it is important for you to have a good understanding of what kind of broker you need. For instance, there are differences between a tenant broker and a listing broker. Also important at the start is to have a clear idea of what kind of space (or tenant) you are looking for and what (if any) particular needs and requirements you might have. And, while it is good to get a referral, you should interview several brokers to better gauge who you feel would best represent your interests.

CommercialCafe hosts listings from some of the most trusted commercial real estate brokerages in the country. Use the contact form available on each listing page or the contact details for the property representatives to reach out and start your search!

The profitability of a commercial real estate investment depends on a multitude of factors working together. These factors include the quality of the asset itself — which itself includes aspects such as location, property class, amenities, and the quality of the property management — to the local market conditions, the state of the local economy, the demand for that particular type of commercial property, and of course the costs of owning and maintaining it relative to what leasing rate or sale price you get from the property. Asking rents in the city went as high as $15 per square foot.

The average size of a commercial property in Prospect Heights depends greatly on the property type and the location — geographical possibilities and zoning allowances have significant influence on how big developers can build. While there are outliers that break height or volume records in the city, we can look at some average sizes by property use:

Retail properties here incorporate an average of 91,366 square feet.

Prospect Heights, IL Currently Available Listings

Commercial Space for Lease Breakdown

Commercial real estate listings for rent in Prospect Heights currently add up to 8,971 square feet. Local retail availability includes 8,971 square feet across 2 retail space(s).

Property Type	Count of Listings	Total SF
Retail	2	8,971

Prospect Heights, IL Commercial Real Estate for Lease and Sale

High Visibility Development Opportunity

1313 East Rand Road

Prospect Crossing Shopping Center

LocalWorks Wheeling

291 North Dunton Avenue

Southpoint Shopping Center

1475 South Wheeling Road

1475 South Wheeling Road

65,488-186,600 SF Available for Lease in Wheeling

Under Contract - 58,100 SF Available for Sale in Wheeling

1111 South Wheeling Road

1 Randhurst Village Dr

1400 South Wolf Road - Building 500

1033 Noel Ave

44 South Vail Avenue

Frequently Asked Questions

Prospect Heights, IL Currently Available Listings

Commercial Space for Lease Breakdown

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Prospect Heights, IL Commercial Real Estate for Lease and Sale

Frequently Asked Questions

What are the different types of commercial real estate?

What types of commercial real estate are available in Prospect Heights, IL?

What factors affect the price of commercial real estate in Prospect Heights, IL?

What are the best areas for commercial real estate in Prospect Heights, IL?

How do I find a good commercial real estate broker?

What is the most profitable commercial real estate?

What is the average size of a commercial property in Prospect Heights, IL?

Prospect Heights, IL Currently Available Listings

Commercial Space for Lease Breakdown

Other Popular Searches

Popular Coworking Searches

Popular Office Searches

Popular Retail Searches

Popular Industrial Searches

About us