Highland Park has been an excellent choice for those looking to invest commercially along the North Shore corridor. It offers both luxury retail opportunities and stable office properties. Given its strong commercial activity and numerous redevelopment projects currently taking place in Highland Park, we expect that the 60035 market will continue to be competitive in 2026, especially for premium Central Business District space with first-class amenities. Many local business owners are adopting a real estate CRM platform to document their transaction histories and provide information on the specific zoning regulations for each district in Highland Park.
For investors and business owners, finding good deals in a low-vacancy market requires access to off-market opportunities and reliable market data for accurate valuation. The top brokers in the area specialize in complex asset types, such as triple-net retail leases, medical office buildings and other conversion-oriented assets. They ensure that when their clients place capital, it is directed toward investments that fit within their long-term growth strategy. These professional brokers use both local knowledge and modern analytical tools to locate higher-yield investments that are not widely available to the general public.
The top commercial brokerage companies in Highland Park are using technology similar to that used by the best real estate companies in the USA to improve their lease negotiation processes and the management of tenant improvement allowances. Our analysis provides stakeholders with a clear overview of which brokers are most active in the area and the major market trends influencing the development of commercial space in Highland Park.
The Highland Park commercial market is considered a strong investment location for those who understand how local micro-market conditions can be effectively leveraged. Using a real estate growth platform allows Highland Park firms to provide their tenants with automated lease tracking. It also helps firms maintain compliance with changing Illinois Energy Codes while supporting stronger investor returns.
The commercial market in Highland Park is influenced by the flight-to-quality trend seen among the top commercial real estate brokers in Chicago. Brokers are moving their operations toward high-amenity satellite offices that offer both suburban safety and urban accessibility.
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The following table outlines eight premier brokerage firms and specialized teams active in the Highland Park commercial market, emphasizing their specific asset class focus.
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1
Van Vlissingen and Co
Website: vanvlissingen.com
Headquarters: Lincolnshire, IL (Serving Highland Park)
Established Year: 1879
Key Person: Chuck Lamphere – President
Core Services: Commercial brokerage, industrial park management, office development
Awards: Recognized as a premier commercial firm in Northern Illinois for over a century.
2
Metro Commercial Real Estate
Website: metrocre.com
Headquarters: Highland Park, IL
Established Year: 1999
Key Person: Jonathan Hyman – Managing Principal
Core Services: Retail tenant representation, landlord leasing services
Awards: Consistently ranked among the top retail-producing firms in the Chicago suburbs.
3
@properties Christie’s Intl. (Walsh Team)
Website: atproperties.com
Headquarters: Highland Park, IL
Established Year: 2000
Key Person: Aaron Walsh - Residential Power Broker
Core Services: Luxury Residential & North Shore Estates, High-end home sales, staging and North Shore market analysis
Awards: Top 1% of producers in the Chicago Association of REALTORS®.
4
Compass (The LAKE Group)
Website: compass.com
Headquarters: Highland Park, IL
Established Year: 2012
Key Person: Lance Kirshner – Team Lead
Core Services: Residential valuation, luxury home acquisitions and 2-4 unit property advisory
Awards: Leading North Shore team with over 18 years of local market experience.
5
Frontline Real Estate Partners
Website: frontlinerepartners.com
Headquarters: Deerfield, IL
Established Year: 2010
Key Person: Matthew Tarshis – Principal
Core Services: Distressed asset sales, receivership, strategic commercial advisory
Awards: Noted for high-volume transactions in retail and industrial asset classes.
Highland Park’s strategic position on the North Shore, supported by high-income demographics and a commitment to urban revitalization, sustains its long-term commercial appeal. High-end retail leasing and landlord representation utilizing a luxury real estate CRM to manage high-net-worth client relationships. Key drivers include:
- Retail fundamentals remain tight in the Central Business District, with foot traffic driving vacancy rates below 5 percent.
- Unlike the downtown Chicago market, North Shore office spaces are stabilizing as firms seek high-quality suburban satellite locations.
- Significant adaptive reuse projects, such as the Solo Cup factory redevelopment, are transforming industrial sites into vibrant mixed-use centers.
- Proactive city management through the Special Service Area 19 provides dedicated funding for infrastructure and marketing in business zones.
Source: City of Highland Park, CoStar, Metro CRE Reports
Source: Highland Park Office of Business Development
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The Highland Park market offers specialized opportunities across diverse asset classes, each requiring a different brokerage superpower to navigate successfully. While the urban core faces various headwinds, Highland Park's stabilization reflects trends seen among the top real estate companies in Chicago, where satellite offices are becoming the preferred asset class for institutional tenants.
- High-street retail along Central Avenue remains the crown jewel for investors seeking luxury tenants and consistent foot traffic.
- Briergate Business District provides essential inventory for service-oriented commercial and light industrial users looking for North Shore proximity.
- Mixed-use redevelopments are the primary focus for institutional capital, as seen with the conversion of legacy industrial sites into residential-retail hubs.
- Medical office space near local healthcare clusters continues to show recession-proof occupancy rates and steady rent growth.
Sophisticated investors capitalize on Highland Park's high barrier to entry and wealth-dense demographics to achieve long-term capital appreciation.
- Special Service Area (SSA) 19 funding ensures that the business districts remain meticulously maintained and marketed, protecting property values.
- Sophisticated investors prioritize assets managed with rigorous compliance and audit trails to ensure transparency during multi-million dollar acquisitions.
- The city's streamlined Civic Access Portal reduces friction for commercial build-outs, allowing for faster tenant occupancy and revenue generation.
- 1031 exchanges are frequently utilized by local landlords to transition from management-intensive assets into stabilized NNN retail leases.
Operating in a premium, mature market creates specific operational hurdles that top-tier firms must solve through technology and local relationships.
- Highland Park maintains notoriously strict signage and zoning codes which can delay storefront launches for national franchises.
- Severely low inventory in the Central Business District often results in shadow inventory where deals happen entirely off-market.
- The implementation of new 2026 sustainability mandates requires brokers to have a deep understanding of energy efficiency compliance during property sales.
- High costs for converting legacy office buildings into modern mixed-use spaces require creative financing and expert brokerage advisory.
Leading Highland Park firms are integrating PropTech to provide transparency in a market traditionally driven by private relationships.
- Advanced data dashboards allow investors to track real-time pedestrian counts and spending patterns in the CBD.
- Matterport 3D walkthroughs are now standard for high-end retail listings to attract national brands without requiring initial travel.
- Commercial CRM platforms automate the tracking of complex multi-year lease escalations and tenant improvement (TI) allowances.
- Targeted digital campaigns identify out-of-market investors looking for stable suburban safe havens compared to urban cores.
The Highland Park commercial market remains a premier destination for those who understand its unique micro-market nuances. As the North Shore continues to evolve with mixed-use developments and stricter sustainability standards, the brokerages that thrive will be those that pair local relationships with institutional-grade data.
Utilizing a real estate growth platform allows Highland Park firms to automate complex lease tracking and maintain compliance with evolving Illinois energy codes while maximizing investor ROI. Adopting these automation tools today ensures a streamlined operation as the city executes its next decade of economic development.
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FAQs on Highland Park commercial real estate
Commercial permit applications in Highland Park are submitted via the city’s Civic Access Portal. Once the application is confirmed for completeness, it is forwarded for review by City Plans Examiners. The amount of time required to complete this review varies depending on the specific details of the project and the amount of time that different departments need to collaborate.
Yes. The Central Business District is supported by SSA 19. This has been extended until 2027. The SSA collects money from property owners in the district. This money is used for infrastructure projects, district-wide advertising and marketing and maintenance programs designed to support the local business environment and economic activity.
All new commercial construction and major renovation projects beginning November 30, 2025, must comply with the updated 2024 Illinois Energy Conservation Code. The code establishes more stricter energy efficiency requirements for both building envelopes and building systems, which must be considered in the underwriting process for acquisitions.
The average asking rent of recent retail properties located in Downtown Highland Park has ranged from the mid-$20s to low-$30s per square foot annually. The overall average rental rate of all retail properties in Highland Park is approximately $27.00 per square foot annually. However, prime retail properties located in high-visibility areas may charge a premium based on factors such as building condition, street frontage and overall location.
Yes, Highland Park has supported the adaptive reuse of former industrial sites. A primary example is the redevelopment of the former Solo Cup property, which is transforming vacant industrial land into a 227-unit residential townhome development near the Old Deerfield Road corridor.
No. The office vacancy rate at the Chicago urban core continues to be high, while the vacancy rate in Highland Park has remained stable. The average cost for Class A office space is approximately $30.61 per square foot. Some companies are choosing high-amenity suburban North Shore offices as satellite locations rather than large downtown office towers.
Highland Park has many stringent signage and architectural standards that businesses are required to comply with. Businesses should work with an experienced commercial real estate agent familiar with the Business and Economic Development Advisory Group (BEDAG) process to determine if proposed signage and storefront designs would be approved before signing a lease.
Disclaimer: Retyn does not promote or endorse any company listed above. The firms and brokers mentioned are selected based on publicly available market data and transaction history as of early 2026. Data is compiled from local municipal and commercial sources and may change without notice.
