What are the different types of commercial real estate?

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 Morton Grove commercial real estate market incorporates 320,129 square feet of office space across 4 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 Morton Grove commercial real estate market includes 591,413 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 Morton Grove market, there is a total of 2,063,804 square feet of industrial property.

What types of commercial real estate are available in Morton Grove, IL?

The largest share of commercial real estate space for lease in Morton Grove is represented by Industrial space , which accounts for 155,179 square feet of available listings. Office space available in Morton Grove adds up to 70,909 square feet.

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

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.

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

The average rent for commercial real estate space listed for lease in Morton Grove is $16.9 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 Morton Grove 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.

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

The best choice of location for commercial space depends on the factors that are most relevant to your business. 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 Morton Grove, 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.

How do I find a good commercial real estate broker?

Whether or not 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!

What is the most profitable commercial real estate?

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.

What is the average size of a commercial property in Morton Grove, IL?

The average size of a commercial property in Morton Grove 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 Morton Grove, the average size of an office property is 80,032 square feet. Retail properties here incorporate an average of 65,713 square feet. Industrial space in Morton Grove is in buildings that are, on average 206,380 square feet in size.

Filter

Sort by

Save Search

31 Commercial Real Estate Listings in Morton Grove, IL

CRE Market Stats

Dempster Commons

6015-6049 Dempster Street, Morton Grove, IL
For Sale

$1,750,000
Property

Retail

16,550 SF
View Details (opens in new window)
Oakton Plaza I

6300-6380 Oakton Street, Morton Grove, IL
For Lease

Contact for pricing
Property

Industrial

88,039 SF
Availability

2 Spaces

8,730 SF
View Details (opens in new window)
8130 River Dr

8130 River Dr, Morton Grove, IL
For Sale

$2,500,000
Property

Industrial

30,000 SF
Year Built

1997
View Details (opens in new window)
Lehigh Plaza

8212-8270 Lehigh Avenue, Morton Grove, IL
For Lease

Contact for pricing
Property

Industrial

121,448 SF
Availability

1 Space

8,210 SF
View Details (opens in new window)
North Grove Corporate Park - 8120-8140 Lehigh Avenue & 8125-8145 River Drive

North Grove Corporate Park - 8120-8140 Lehigh Avenue & 8125-8145 River Drive, Morton Grove, IL
For Lease

$14.00 - $18.00/SF/YR
Property

Office

143,961 SF
Availability

6 Spaces

70,909 SF
Year Built

1986
View Details (opens in new window)
95,640 Square Feet Available For Lease or Sale

8350 Lehigh Ave, Morton Grove, IL
For Lease

Contact for pricing
Property

Industrial
Availability

1 Space

95,640 SF
Year Built

1955
View Details (opens in new window)
Dempster Commons

6015-6049 Dempster Street, Morton Grove, IL
For Lease

$20.00/SF/YR
Property

Retail

16,550 SF
Availability

2 Spaces

3,337 SF
View Details (opens in new window)
9300 Waukegan Rd., Morton Grove, IL 60053 (Medical Office)

9300 Waukegan Rd. , Morton Grove, IL
For Sale

$2,500,000
Property

Office

8,000 SF
Year Built

1979
View Details (opens in new window)
7.85 Acre Development Site Available for Sale in Morton Grove, Illinois

8350 Lehigh Avenue, Morton Grove, IL
For Sale

$7,500,000
Property

Other

7.85 Acre
View Details (opens in new window)
Dempster Austin Center

6000 W. Dempster Street, Morton Grove, IL
For Lease

$11.00/SF/YR
Property

Retail

20,000 SF
Availability

1 Space

4,400 SF
Year Built

1950
View Details (opens in new window)
Not finding the right space?

Tell us where and what you're looking for and the brokers will come to you
26,316 SF Available for Lease in Morton Grove

8270 Austin Ave, Morton Grove, Niles Township, IL
For Lease

Contact for pricing
Property

Industrial
Availability

1 Space

26,316 SF
View Details (opens in new window)
Beckwith Center

9225-9255 Waukegan Road, Morton Grove, IL
For Lease

Contact for pricing
Property

Retail

22,275 SF
Availability

2 Spaces

3,200 SF
View Details (opens in new window)
123,743 SF Available for Sale in Morton Grove

6451 Main St, Morton Grove, Niles Township, IL
For Sale

$8,500,000
Property

Industrial

123,743 SF
View Details (opens in new window)
Dempster Crossing

NEC Dempster St & Harlem, Morton Grove, IL
For Lease

Contact for pricing
Property

Retail

8,055 SF
Availability

4 Spaces

8,055 SF
View Details (opens in new window)
95,640 Square Feet Available For Lease or Sale

8350 Lehigh Ave, Morton Grove, IL
For Sale

Contact for pricing
Property

Industrial

95,640 SF
Year Built

1955
View Details (opens in new window)
Pointe Plaza

NWC Central Avenue & Touhy Avenue, Morton Grove, Niles, IL
For Lease

Contact for pricing
Property

Retail

193,718 SF
Availability

5 Spaces

34,168 SF
View Details (opens in new window)
Sawmill Station Shopping Center - Expansion

6763 Dempster Street, Morton Grove, IL
For Lease

Contact for pricing
Property

Retail

37,000 SF
Availability

1 Space

37,000 SF
View Details (opens in new window)
8150 Lehigh Ave.

8150 Lehigh Ave., Morton Grove, IL
For Lease

$8.50/SF/YR
Property

Industrial

16,283 SF
Availability

1 Space

16,283 SF
View Details (opens in new window)
7921 Lehigh Crossing

7921 Lehigh Crossing, Morton Grove, Victor, NY
For Lease

Contact for pricing
Property

VacantLand

30,000 SF
Availability

1 Space

30,000 SF
View Details (opens in new window)
Sawmill Station Shopping Center - Expansion

6763 Dempster Street, Morton Grove, IL
For Sale

Contact for pricing
Property

Retail

37,000 SF
View Details (opens in new window)
Off Market
Village Plaza

7250 Dempster Street, Morton Grove, IL
Property

Retail

157,815 SF
Year Built

1967
Off Market
8930 Waukegan Road

8930 Waukegan Road, Morton Grove, IL
Property

Office

43,168 SF
Year Built

1973
Off Market
6901 Golf Road

6901 Golf Road, Morton Grove, IL
Property

Industrial

500,234 SF
Year Built

1959
Off Market
Washington Commons

7913 Golf Road, Morton Grove, IL
Property

Retail

81,000 SF
Year Built

1987
Off Market
8338 Austin Avenue

8338 Austin Avenue, Morton Grove, IL
Property

Industrial

152,000 SF
Year Built

1956
Off Market
8200 North Austin Avenue

8200 North Austin Avenue, Morton Grove, IL
Property

Industrial

490,234 SF
Year Built

1961