$463,147Average Value$245Average Price per Sq Ft0Homes For Sale
Third Lake is a longtime waterfront community with city convenience
If you believe life is best lived on the water, Third Lake could be the right place for you. “You really do get the best of both worlds here,” says Kendra Saemann, an administrative assistant at Village Hall who has owned property and lived in Third Lake for over ten years. “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.” 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.
Third Lake offers incredible lakeside living for those that want to live on the water.
A row of homes by the lake enjoys easy water access for boating and fishing.
1/2
Former resort town now offers full-time residential living
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.
The sidewalks and streets of Third Lake are clean and well maintained.
A stone farmhouse is a unique addition to the neighborhood of Third Lake.
1/2
Parks, trails and lakes support active lifestyles in all seasons
“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,” Saemann says. “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.” 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.
Third Lake offers a beautiful forest preserve for bike rides or walking.
Residents of Third Lake go for a walk in a nearby forest preserve.
1/2
Lake Villa and Grayslake public schools have supportive staff
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.
Palombi Middle School is an above average public school in Lake Villa, serving grades 6-8.
Grayslake North High School is a public school option for residents of Round Lake Beach.
1/2
Gurnee Mills Mall, restaurants and Six Flags are easily accessible
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.
Nearby Gurnee Mills is the largest outlet and value retail shopping destination in Illinois.
Right off the interstate, in Gurnee, you’ll find Six Flags Great America.
1/2
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
Kimberly Zahand,
an experienced agent in this area.
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
On average, homes in Third Lake, IL sell after 14 days on the market compared to the national average of 54 days. The median sale price for homes in Third Lake, IL over the last 12 months is $402,000, up 1% from the median home sale price over the previous 12 months.
Grayslake has annexed this 67 acre parcel and previously approved a plan that depicts 105 single family lots. This parcel is adjacent to Carillon North. Sewer and water are nearby. Rollins Savannah, a 1200+ acre forest preserve is located just east of the site. The property is approximately 5 miles west of the full interchange of Interstate 94 & Rt. 132 and close to major shopping at Rollins &
Looking for a great location to build?! Look no more! Great visibility and easy to find, for your at home small business. Buildable 1 acre lot, mostly flat. Nearby utilities, with endless possibilities!! You can build a 4300+ structure or structures on this land, making your own serene Home Sweet Home, exactly as you envisioned. A short drive to Fremont School, Lakewood Grove Park, Nippersink
This 5,000 sq. ft. wooded vacant lot sits on a quiet no-outlet street, offering a peaceful setting while keeping you close to everything Gurnee, Grayslake, Round Lake, and Lindenhurst have to offer. Enjoy access to excellent schools, nearby shopping and dining, and effortless commuting with easy on/off access to the Tri-State. A convenient and well-located piece of land ready for your future
Prime 8.5-acre corner development site on high-visibility U.S. Route 45 in unincorporated Lake Villa! Excellent exposure with dual frontage and easy access from both directions. Ideal for retail, mixed-use, or commercial projects-surrounded by growing residential neighborhoods, schools, and businesses. Strong daily traffic counts and nearby utilities enhance development potential. Located in a
Opportunity Knocks! 10.4 acres now available for sale and development. This fine property is now annexed to the Village of Lindenhurst and is adjacent to and west of the New Zeigler Nissan Dealership! With almost 800' of Grand Avenue frontage and utilities available, this property offers great retail potential!
Attention Developers: Grayslake infill site is ready for new construction single family or townhome product. This approximately 22 acre parcel is primarily zoned R5 and partially zoned SCB. Adjoining Cherry Creek Townhome Subdivision has access road already stubbed into the site with possible additional access off Washington Street. Preliminary site plans have been prepared by Hey and
Updated single-family home for rent in a desirable neighborhood with highly rated Grayslake schools. This home features 4 bedrooms, 2.5 bathrooms, an attached garage, and a fenced backyard with a garden area and storage shed. All applicants 18+ must apply. A minimum 700+ score is required, and household income must be at least 2.5 the monthly rent with stable employment. No smoking or vaping
Don't miss this beautifully updated rental townhouse in Grayslake's soughtafter Cherry Creek community-it won't last long! Enjoy hardwood floors, natural light, and a bright, open layout designed for modern living. The stunning kitchen offers quartz countertops, stainless steel appliances, a center island, and sliding doors to your private patio. Upstairs features two spacious bedrooms, each with
Local Logic measures the walkability, access to public transit and bikeability of any address. CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks.
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
