Dawn Sullivan
@properties Christie's International Real Estate
(815) 991-4782
75 Total Sales
1 in Third Lake
$400,000 Price
Third Lake
Suburban Neighborhood in Illinois
Lake County 60030, 60046
If you believe life is best lived on the water, Third Lake could be the right place for you. “Boating, fishing, kayaking, swimming –all a big part of this community. We have Third Lake and Druce Lake, and only residents have access to them,” says Kendra Saemann, an administrative assistant at Village Hall who has owned property and lived in Third Lake for over ten years. “Motors aren’t allowed on Druce Lake, making it ideal for rowers and fishers. Third Lake, the bigger of the two, is where you take out your motorboats.”
Located less than 50 miles from Chicago, the Third Lake’s appeal has been apparent since the early 1800s, when it was a popular resort area for water recreation. Hotels and tourist attractions were built when the railroad came through, and private campgrounds and small seasonal cabins dotted the shorelines until the 1940s. Today, the Metra has replaced the railway, and year-round homes stand where the campgrounds and cabins used to be. You can expect to pay around $227,000 for a three-bedroom, one-bathroom split-level house with a partial lake view. The price for a four-bedroom, two-and-a-half-bathroom lakefront home with 4,000 square feet of living space is $785,000.
Plenty of parks and green spaces exist for those who prefer to stay on dry ground for fun. Caboose Park delivers a healthy dose of nostalgia with its merry-go-round, jungle gyms, swing sets, and an old-school train car that kids can climb on. Grant Woods Forest Preserve, which borders Third Lake to the immediate west, features open prairies, quiet woodlands and marshes teeming with wildlife. It is a popular destination for hiking, biking and dog walking in the warmer months. In the winter, the park comes alive with cross-country skiers and snowmobilers. The pillars, domes, vaults, and fresco artwork at the New Gracanica Serbian Monastery are must-sees for architecture enthusiasts.
Local preschool to fifth-grade students may attend B.J. Hooper Elementary School, which has an A-minus grade on Niche and a student-to-teacher ratio of just 15-1. From sixth to eighth grade, students can go to Palombi Middle School, a B-plus school on Niche known for its dedicated teachers and caring staff. From ninth to twelfth grade, students head to Grayslake North High School, which boasts a graduation rate of 97 percent and an overall A grade on Niche.
Despite its bucolic setting, Third Lake is a hop, skip and jump away from modern shopping and entertainment. Gurnee Mills Mall is about 3 miles away and is home to major retailers like Bass Pro Shop, Burlington, Build-A-Bear and Express Factory Outlet. There is a Walmart Supercenter and a Sam’s Club across the street from Gurnee Mills Mall for groceries. Go east on West Grand Avenue and across Interstate 94 to arrive at Six Flags Great America and its many thrill rides, kid attractions and family-friendly shows. After a day of shopping and ride hopping, refuel at Something’s Brewing, a favorite local eatery just south of the lakes on Route 45.
“You really do get the best of both worlds here,” says Saemann. “We have owned lake homes in Wisconsin, but they were too remote for us. In Third Lake, everything you need is nearby, and the Metra makes getting to those places a breeze.”
Written By
Jordan Howell
Photography Contributed By
Chris Jeong
Video By
Mallory Nolte
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Agents Specializing in this Area
-
Dawn Sullivan
-
Jamie Ross
Jamie Ross
Responds Quickly@properties Christie's International Real Estate
(224) 479-1150
84 Total Sales
1 in Third Lake
$289,000 Price
-
Bridget Norman
Bridget Norman
Responds QuicklyBerkshire Hathaway HomeServices Starck Real Estate
(224) 271-9783
59 Total Sales
1 in Third Lake
$132,000 Price
-
Alexander Reid
Alexander Reid
Responds QuicklyHomeSmart Connect LLC
(224) 808-3750
155 Total Sales
1 in Third Lake
$273,000 Price
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Mary Onstad
Mary Onstad
Responds QuicklyBaird & Warner
(224) 269-8736
51 Total Sales
1 in Third Lake
$900,000 Price
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Renee O'Brien
Renee O'Brien
Responds QuicklyKeller Williams North Shore West
(224) 532-5028
174 Total Sales
1 in Third Lake
$330,000 Price
Schools
Source:
GreatSchools:
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
- 9th to 12th
- Public
- 6th to 8th
- Public
- K to 4th
- Public
Interested in learning more about homes in this area? Reach out to , an experienced agent in this neighborhood.
Parks in this Area
Yogi Bear Park
- Playground
Mill Creek Park
- Bike Trails
- Picnic Area
- Tennis
Sunrise Park
- Basketball
- Bike Trails
- Picnic Area
Rollins Savanna Forest Preserve
Transit
Crime and Safety
| 1 - Low Crime, 10 - High Crime | Third Lake | US |
|---|---|---|
| Homicide | 1 | 4 |
| Sexual Assault | 1 | 4 |
| Assault with Weapon | 1 | 4 |
| Robbery | 1 | 4 |
| Burglary | 1 | 4 |
| Motor Vehicle Theft | 1 | 4 |
| Larceny | 2 | 4 |
| Crime Score | 1 | 4 |
Source: WhatIsMyCrimeRisk.com
Demographics and Home Trends
On average, homes in Third Lake, IL sell after 12 days on the market compared to the national average of 47 days. The average sale price for homes in Third Lake, IL over the last 12 months is $394,978, down 6% from the average home sale price over the previous 12 months.
Home Trends
Median Price (12 Mo)
$410,000
Median Single Family Price
$412,550
Median 2 Bedroom Price
$301,500
Average Price Per Sq Ft
$214
Number of Homes for Sale
1
Last 12 months Home Sales
13
Months of Supply
0.90
Median List Price
$402,450
Median Discount From 1st List Price
-4%
Median Home Sale Price YoY Change
20%
Home Facts
Number of Homes in Neighborhood
455
Median Year Built
1988
Avg. Single Family Home Size Sq Ft
3,740
Significantly above the national average
1,935
Median Lot Size Sq Ft
10,890
Distribution of Home Values
Homes for Sale
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Average Home Value
Property Mix - Square Feet
This Neighborhood Has More Owners
Demographics
Total Population
1,270
Median Age
43
Population Density
1 person/acre
Population under 18
23.4%
On par with the national average
23.8%
Population over 65
18.2%
On par with the national average
19.1%
Finances
Median Household Income
$128,289
Significantly above the national average
$71,702
Average Household Income
$150,467
Education and Workforce
High School Graduates
96.6%
College Graduates
65.6%
Significantly above the national average
34.1%
Advanced Degrees
30.8%
Above the national average
13.3%
% Population in Labor Force
75.8%
Weather
Annual Precipitation
34''
Average Winter Low Temperature
16°F
Average Summer High Temperature
81°F
Annual Snowfall
23''
Area Factors
Bikeable
Bike Score®
58
/ 100
Car-Dependent
Walk Score®
3
/ 100
Source: Walk Score
Source: Walk Score
Sound Score® measures the noise level of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Nearby Neighborhoods
Grayslake
A small-town feel in the northwest suburban reaches of Chicago
Venetian Village
Peaceful neighborhood within the Chain O Lakes near two forest preserves
Lindenhurst
Lake County living amidst forest preserves and fishing lakes
Round Lake Beach
A waterfront suburb with a community-centered spirit
South Lake Villa
A community with a small-town locale and suburban amenities close by
Downtown Lake Villa
Pocket-sized community hub with Metra access between two beautiful lakes
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