Dawn Sullivan
@properties Christie's International Real Estate
(815) 991-4782
74 Total Sales
1 in Third Lake
$400,000 Price
Third Lake
Located in Lake County
$447,650
Average Value
$183
Average Price per Sq Ft
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
Interested in learning more about homes in this area? Reach out to , an experienced agent in this area.
Agents Specializing in this Area
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Dawn Sullivan
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Kimberly Zahand
Kimberly Zahand
Keller Williams North Shore West
(708) 859-7009
389 Total Sales
2 in Third Lake
$330K - $510K Price Range
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Joanne Levicki
Joanne Levicki
Responds QuicklyExit Realty 365
(224) 808-3048
78 Total Sales
1 in Third Lake
$338,000 Price
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Jane Lee
Jane Lee
Responds QuicklyRE/MAX Top Performers
(224) 300-7623
2,340 Total Sales
1 in Third Lake
$212,000 Price
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Renee O'Brien
Renee O'Brien
Responds QuicklyKeller Williams North Shore West
(224) 532-5028
172 Total Sales
1 in Third Lake
$330,000 Price
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Jamie Hering
Jamie Hering
Responds QuicklyColdwell Banker Realty
(224) 427-6271
813 Total Sales
6 in Third Lake
$42K - $470K Price Range
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
- Pre-K to K
- Public
- 7th to 8th
- Public
- 9th to 12th
- Public
Third Lake Housing Trends
On average, homes in Third Lake, IL sell after 29 days on the market compared to the national average of 49 days. The median sale price for homes in Third Lake, IL over the last 12 months is $338,500, down 6% from the median home sale price over the previous 12 months.
Housing Trends
Median List Price
$342,450
Median Sale Price
$338,500
Median Single Family Sale Price
$338,500
Median Change From 1st List Price
1%
Last 12 months Home Sales
6
Median Home Sale Price YoY Change
-$6
Average Price Per Sq Ft
$183
Open Houses
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Sunday, Jun 81 - 3pm
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Saturday, Jun 710am - 12pm
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Sunday, Jun 812am - 2pm
Homes for Sale
Distribution of Home Values
Average Home Value
Property Mix - Square Feet
Weather
Annual Precipitation
34''
Average Winter Low Temperature
16°F
Average Summer High Temperature
81°F
Annual Snowfall
23''
