Located in both Will and Cook counties, the village of Frankfort features a residential population of approximately 18,000. One of the more affluent communities in the region, Frankfort is the ideal location for business owners seeking rental properties for lease, including office space for rent and commercial space for rent, within a well-to-do community capable of supporting local enterprises. The numerous neighborhood zones situated throughout this community are perfect for those hoping to develop their presence in the community, region and state. Frankfort has already attracted the attention of countless residents and professionals, and will continue to do so for years to come.
Due to Frankfort’s advantageous location as a suburb of Chicago, local residents have the opportunity to quickly commute into this major metropolitan center for their professional work. Median household incomes in Frankfort are approximately $110,000, nearly double the state average. Because of this, the vast majority of Frankfort’s population is classified within the middle class/ upper-middle class income bracket. Common industries found within Frankfort include manufacturing and the professional, scientific and retail trade areas. Unemployment levels here have remained slightly below state averages, thanks largely to the well-diversified nature of the local economy. The per capita income of village inhabitants is nearly $34,000. Average home prices are approximately $300,000.
Frankfort was officially incorporated as a village of Illinois in 1879, following decades of activity as an agricultural and economic center. Today, the population of Frankfort is almost exclusively Caucasian, with only 6% of residents tracing their origins to varying ethnicities. Although the area has gained a somewhat notorious reputation for criminal activities undertaken by political leadership, Frankfort remains a safe place to live, and is heavily populated by families with both older and younger children.
Leasing opportunities in Frankfort, while not overly abundant, are still available. That being said, business owners may need to be somewhat flexible with their preferences, as it may be difficult to locate the “perfect” property here. The vast majority of retail and commercial properties are located within the downtown region of the village, which also receives the majority of pedestrian traffic from both locals and tourists alike. Manufacturing-related businesses are often found outside of the city limits due to the abundance of larger properties here.