Why Live in Virginia Lake
Virginia Lake, a neighborhood in Palatine, Chicago, is characterized by its numerous lakes and ponds, providing a scenic backdrop for its diverse housing options. The area features a mix of single-family ranches, split-level homes, condos, and townhouses, many of which are situated around the neighborhood's bodies of water. The community is known for its multicultural population and family-friendly environment, with highly rated schools such as Virginia Lake Elementary School and Palatine High School. The neighborhood's educational institutions emphasize culturally responsive teaching, catering to its diverse student body.
Virginia Lake offers ample recreational opportunities with parks like Celtic Park and Sycamore Park, which feature soccer fields, playgrounds, tennis and pickleball courts, and a softball field. The Palatine Bike Trail runs through the neighborhood, connecting residents to nearby nature preserves like Deer Grove East, which offers hiking, mountain biking, and camping. The neighborhood's small retention ponds and larger Virginia Lake provide spaces for swimming and fishing.
For shopping and dining, Virginia Lake features two shopping centers with big-box stores such as Target, Aldi, and Walmart, as well as diverse dining options like Kosta’s Gyros and Thai House Restaurant. The neighborhood's proximity to Route 53 and Hicks Road ensures convenient access to Downtown Palatine and a 40-minute commute to Downtown Chicago. Additionally, the Palatine Metra Station offers an alternative for commuters traveling to the city. With a crime rate lower than the national average, Virginia Lake is a practical and appealing choice for families and individuals alike.
Home Trends in Virginia Lake, IL
On average, homes in Virginia Lake, Palatine sell after 75 days on the market compared to the national average of 69 days. The median sale price for homes in Virginia Lake, Palatine over the last 12 months is $715,000, down 20% from the median home sale price over the previous 12 months.
Median Sale Price
$715,000
Median Single Family Sale Price
$1,105,000
Median Townhouse Sale Price
$320,000
Median 2 Bedroom Sale Price
$359,000
Median 1 Bedroom Sale Price
$449,000
Average Price Per Sq Ft
$296
Number of Homes for Sale
4
Last 12 months Home Sales
114
Median List Price
$599,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
-20%