Lake Forest Real Estate

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Lake Forest Real Estate & Homes for Sale in Illinois

The community of Lake Forest is home to more than 20,000 residents who take pride in their town's natural year-round beauty and relaxed village atmosphere. This enchanting, family-centered community is located just 31 miles north of Chicago.

Lake Forest is known for its lush green ravines, towering trees and unusual location high on the bluffs overlooking an inland sea. Locals are committed to preserving their town's historic structures, open space and lovely landscapes accented by wooded, winding gas-lit streets, elegant estates, manicured parks and gracious public buildings. With approximately 100 community organizations in Lake Forest, residents can meet and share in such interests as history, politics, gardening, antique collecting, sports and the arts.

Retail shopping includes a mix of small shops, family-owned businesses and larger stores, such as Marshall Field's. The famed Market Square, built in 1916, was the first planned shopping mall in the country and is now listed on the National Register of Historic Places. The square retains a nostalgic turn-of-the-century ambiance and hosts events such as the Deer Path Art League's annual Fall Festival of Art and the Taste of Lake Forest each summer. The town is also noted for the quality and character of its architecture. Public buildings and private dwellings are beautifully designed, adding grace and charm to the town?s picturesque setting.

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Price Range of Lake Forest Houses

Lake Forest's real estate market primarily consists of colonial, English, Victorian, Tudor, farm and cottage-style single-family homes for sale. A selection of condominium and townhome real estate is scattered throughout and is priced starting from $110,000 for smaller, older units. Prices can exceed $2 million for larger, newer properties with additional amenities such as garages, basements and fireplaces. Single-family homes in Lake Forest start from $320,000 for two to three bedroom models on small lots with private balconies and porches. Real estate ranges up to $5 million+ for stately Victorian and Tudor-style estate properties with acreage. Many homes in Lake Forest boast large yards, landscaping and mature gardens, and some feature water frontage. These homes also offer exquisite architecture, cathedral ceilings, sweeping scenic views, multi-car garages, fireplaces and numerous luxury amenities.

Lake Forest Real Estate Stats and Trends for the week of April 18th, 2020: homes priced around $719,929 compared to $986,800 the previous week, showing a decrease of less than -37%.  For Saturday, April 18th, the current national mortgage rate for a 30 year fixed mortgage is 4.51%; the 15 year fixed rate is at 3.90%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.41%, while the 15 year jumbo rate currently is at 4.12%.

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