Wheeling, IL Commercial Real Estate for Lease and Sale

Explore 41 listings of Wheeling commercial real estate for lease and for sale to find the best space for your business.

Fresh Farms Plaza

94 South Milwaukee Avenue, Wheeling, IL
Property

Retail

60,709 SF
Availability

1 Space

1,232 SF
Year Built

2011
For Lease

$20.00/SF/YR
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1-49 Huntington Ln

1-49 Huntington Ln, Wheeling, IL
Property

Retail

37,035 SF
Availability

2 Spaces

2,313 SF
Year Built

1985
For Lease

$14.00/SF/YR
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1-45 Huntington Ln

1-49 Huntington Ln, Wheeling, IL
Property

Retail

43,104 SF
Availability

2 Spaces

2,313 SF
For Lease

$12.50/SF/YR
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1098 South Milwaukee Avenue

1098 South Milwaukee Avenue, Wheeling, IL
Property

Office

29,087 SF
Year Built

1972
For Sale

$1,300,000
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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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43-47 West Dundee Road

43-47 West Dundee Road, Wheeling, IL
Property

Office

13,800 SF
Year Built

1976
For Sale

$1,999,000
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Wheeling Plaza

600-668 Wheeling Road, Wheeling, IL
Property

Industrial

134,800 SF
Availability

1 Space

3,312 SF
For Lease

$6.50/SF/YR
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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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Milwaukee Ave & Dundee Rd

Milwaukee Ave & Dundee Rd, Wheeling, IL
Property

Retail
Availability

1 Space

89,298 SF
For Lease Contact for pricing
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310 N Wolf Rd

310 N Wolf Rd, Wheeling, IL
Property

Office

5,000 SF
For Sale

$549,900
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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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1040 South Milwaukee Avenue

1040 South Milwaukee Avenue, Wheeling, IL
Property

Office

26,000 SF
Availability

1 Space

4,000 SF
Year Built

1988
For Lease

$14.00/SF/YR
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99 E Palatine Rd

99 E Palatine Rd, Wheeling, Prospect Heights, IL
Property

Office

4,800 SF
Availability

1 Space

1,500 SF
Year Built

2022
For Lease

$30.00/SF/YR
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1040 S Milwaukee Ave

1040 S Milwaukee Ave, Wheeling, IL
Property

Office

26,000 SF
Availability

2 Spaces

1,300 SF
Year Built

1979
For Lease

$10.00/SF/YR
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401 South Milwaukee Avenue

401 South Milwaukee Avenue, Wheeling, IL
Property

Office

26,681 SF
Availability

9 Spaces

12,718 SF
Year Built

1975
For Lease

$12.57 - $15.00/SF/YR
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Milwaukee Ave & Dundee Rd

Milwaukee Ave & Dundee Rd, Wheeling, IL
Property

Retail
For Sale

Subject To Offer
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310 N Wolf Rd

310 N Wolf Rd, Wheeling, IL
Property

Office

5,000 SF
Availability

5 Spaces

3,405 SF
For Lease

$25.00/SF/YR
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1204 S Milwaukee Ave

1204 South Milwaukee Avenue, Wheeling, IL
Property

Retail

3,988 SF
Availability

1 Space

2,400 SF
Year Built

1942
For Lease

$32.00/SF/YR
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740 W. Hintz

740 W. Hintz, Wheeling, IL
Property

Retail

5,865 SF
Availability

1 Space

3,665 SF
For Lease Contact for pricing
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440 West Denniston Court

440 West Denniston Court, Wheeling, IL
Property

Industrial

87,000 SF
Year Built

1966
For Sale Contact for pricing
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440 West Denniston Court

440 West Denniston Court, Wheeling, IL
Property

Industrial

87,000 SF
Availability

1 Space

87,000 SF
Year Built

1966
For Lease 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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Northgate Pwky & Dundee Rd

Northgate Pwky & Dundee Rd, Wheeling, IL
Property

Retail

5,226 SF
Availability

1 Space

5,226 SF
For Lease Contact for pricing
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Under Contract - Redevelopment Opportunity - 6.46 Acres Available For Sale in Wheeling

129 S Railroad Ave, Wheeling, IL
Property

Other
For Sale Contact for pricing
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543 Diens Dr

543 Diens Dr, Wheeling, IL
Property

Industrial

24,722 SF
For Sale

$1,950,000
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47 West Dundee Road

47 West Dundee Road, Wheeling, IL
Property

Office

8,800 SF
Availability

3 Spaces

4,272 SF
For Lease Contact for pricing
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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. The Wheeling commercial real estate market incorporates 175,235 square feet of office space across 11 buildings.

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 Wheeling commercial real estate market includes 307,307 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. Across the Wheeling market, there is a total of 1,068,084 square feet of industrial property.

The listing inventory in Wheeling 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 Wheeling is represented by Industrial space, which accounts for 591,071 square feet of available listings. Retail space available in Wheeling adds up to 245,604 square feet.

Meanwhile, most of the listings of commercial property for sale in Wheeling are in the Industrial 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.

The average rent for commercial real estate space listed for lease in Wheeling is $14.16 per square foot. However, this value does not offer enough perspective on its own, as you will find significant variation in prices across property types, property classes, and location, as well as other impacting factors. For instance, rent per square foot of office space in Wheeling can vary greatly depending on the rating of the property from Class A to Class C, as well as across the city depending on the location of the asset.

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 Wheeling, 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 $20 per square foot. In particular, the property type commanding the highest lease rates in Wheeling was Office space.

The average size of a commercial property in Wheeling 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:

In Wheeling, the average size of an office property is 21,905 square feet.
Retail properties here incorporate an average of 38,414 square feet.
Industrial space in Wheeling is in buildings that are, on average 82,161 square feet in size.

Wheeling, IL Currently Available Listings

Commercial Space for Lease Breakdown

Commercial real estate listings for rent in Wheeling currently add up to 875,642 square feet. The market offers 8 active office listing(s), which amount to 38,967 square feet and account for 27% of commercial spaces on the market. Local retail availability includes 245,604 square feet across 11 retail space(s). Industrial space for rent opportunities in Wheeling amount to 591,071 square feet across a total of 10 warehouse and other industrial listing(s).

Property Type	Count of Listings	Total SF
Office	8	38,967
Retail	11	245,604
Industrial	10	591,071

Commercial Space for Sale Breakdown

What’s more, if you are interested in making an investment in the local market, you can also find commercial real estate for sale in Wheeling, IL. Currently, there is 1,233,760 square feet of commercial property for sale here , which includes 3 office building(s) for sale , and 7 listing(s) of industrial real estate property for sale .

Property Type	Count of Listings	Total SF
Office	3	47,887
Industrial	7	445,353
Other	3	740,520

Wheeling, IL Commercial Real Estate for Lease and Sale

Fresh Farms Plaza

1-49 Huntington Ln

1-45 Huntington Ln

1098 South Milwaukee Avenue

LocalWorks Wheeling

43-47 West Dundee Road

Wheeling Plaza

1033 Noel Ave

Milwaukee Ave & Dundee Rd

310 N Wolf Rd

1400 South Wolf Road - Building 500

1040 South Milwaukee Avenue

99 E Palatine Rd

1040 S Milwaukee Ave

401 South Milwaukee Avenue

Milwaukee Ave & Dundee Rd

310 N Wolf Rd

1204 S Milwaukee Ave

740 W. Hintz

440 West Denniston Court

440 West Denniston Court

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

Northgate Pwky & Dundee Rd

Under Contract - Redevelopment Opportunity - 6.46 Acres Available For Sale in Wheeling

543 Diens Dr

47 West Dundee Road

Frequently Asked Questions

Wheeling, IL Currently Available Listings

Commercial Space for Lease Breakdown

Commercial Space for Sale Breakdown

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Wheeling, 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 Wheeling, IL?

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

What is the average rent for commercial space in Wheeling, IL?

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

Wheeling, IL Currently Available Listings

Commercial Space for Lease Breakdown

Commercial Space for Sale Breakdown

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About us