Quick Answer: Commercial parking lot paving in Southern Illinois costs $2.50-$5 per square foot installed, or roughly $3,000-$5,000 per parking space including drive lanes and infrastructure.
Cost by Lot Size
| Parking Spaces | Approx. Sq Ft | Cost Range |
|---|---|---|
| 10 spaces | 3,000-4,000 | $9,000-$20,000 |
| 25 spaces | 7,500-10,000 | $22,500-$50,000 |
| 50 spaces | 15,000-20,000 | $45,000-$100,000 |
| 100 spaces | 30,000-40,000 | $90,000-$200,000 |
What's Included in the Cost
A complete parking lot project typically includes:
- Site preparation: Grading, excavation, debris removal
- Base installation: Aggregate base layer (4-12 inches)
- Asphalt paving: Hot-mix asphalt (3-4 inches for commercial)
- Line striping: Parking spaces, fire lanes, ADA spaces
- Signage: Handicap signs, directional signs
Factors That Affect Cost
1. Site Conditions
- Existing surface removal: Add $1-$3/sq ft
- Poor soil conditions: May need extra base work
- Drainage requirements: Storm drains, grading complexity
- Accessibility: Difficult access increases labor costs
2. Asphalt Thickness
Commercial lots need thicker asphalt than residential:
- Light duty (cars only): 3 inches
- Medium duty (delivery trucks): 4 inches
- Heavy duty (semi trucks): 5+ inches
3. Base Requirements
- Standard (good soil): 6 inches aggregate
- Enhanced (poor soil): 8-12 inches aggregate
- Heavy duty: 12+ inches with geotextile fabric
4. Additional Features
- Curbing: $8-$15 per linear foot
- Speed bumps: $100-$200 each
- Storm drains: $1,000-$5,000 depending on complexity
- Lighting: Varies significantly
New Construction vs Replacement
| Project Type | Cost per Sq Ft |
|---|---|
| New construction (prepared site) | $2.50-$4.00 |
| Overlay (existing base good) | $1.50-$3.00 |
| Full replacement | $3.50-$5.50 |
Financing Your Parking Lot
Options for funding your project:
- Business loans: SBA loans, commercial lines of credit
- Equipment financing: Some lenders treat paving as equipment
- Property improvement loans: Specifically for real estate improvements
- Phased construction: Complete in stages as budget allows
ROI of a New Parking Lot
A well-maintained parking lot:
- Improves customer perception and foot traffic
- Reduces liability from trip hazards
- Increases property value
- Lasts 20-25 years with maintenance
Get Your Custom Quote
Every commercial project is unique. Contact us for a free, detailed estimate based on your specific requirements.