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Lake Forest Has More Affordable Homes Than Most Other 'Pricey' Towns

A 'Chicago Real Estate Daily' article says Lake Forest has the third most homes on the market for under $500,000 among the priciest suburbs.

Written by Joe O'Donnell

Among the Chicago area's priciest real-estate markets, Lake Forest has eight listed below $500,000, the third most in that price range among Chicago's priciest suburbs, according to Chicago Real Estate Daily.

Wilmette topped the list with a median sale price of $569,500, with sales ranging from $319,900 to $4.8 million. Hinsdale comes in second with 14 houses under a half-million, despite a median home sale price of $875,000.

No. 3 Lake Forest has a median price of $674,000, with a range from $275,000 to $16.5 million. It's followed by Long Grove's five and Riverwoods' three. Winnetka, Glencoe and Kildeer each have only two, South Barrington has one, and Kenilworth has zero. 

"Such homes have always been coveted by young couples from the city seeking a top-tier school district for their children," the Chicago Real Estate Daily report reads. "But demand is picking up this year amid the stronger city condo market, allowing them to sell there and buy in the suburbs, said Prudential Rubloff broker Scott Meland, who is listing a two-bedroom Wilmette home for $339,000."

Read the full report here.

Hummingbird_Lover December 16, 2013 at 09:03 AM
Lake Forest realtors jacked those little homes to way beyond this $500k mark previous to 2008 and now back to reality. Boy, if I had a dime for every Lake Forester realtor who told me they'd "buy the house for themselves" if they were a real estate investor like me (lol), I'd be a much richer person today. That's the true reality here in Lake Forest.

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