Grayslake · Lake County · IL
Homes for sale in
Oakwood.
- Active listings
- 1
- Median list
- $440K
- Avg time on market
- 108 days
- Sold · last year
- 9
Active listings
1 home on the market
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About the community
A green, established 1990s neighborhood at Washington and Route 45.
Oakwood is an established subdivision of single-family and attached townhomes at the southeast corner of Washington Street and Route 45 (Milwaukee Avenue), in unincorporated Warren Township with a Grayslake mailing address. It was developed in the 1990s and organized around ponds, landscaped easements, and wooded open space that the homeowners association maintains. The setting is quiet and family-oriented, with a strong location advantage: commuter rail, College of Lake County, and Warren Township High School are essentially at the doorstep. The one thing every buyer should know is that despite the Grayslake address, the homes are in the Woodland and Warren Township school districts, not the Village of Grayslake districts.
At a glance
Ponds and wooded open space
The HOA maintains ponds, easements, and wooded common areas throughout the development.
Single-family and townhomes
A 1990s mix of detached homes and attached townhomes, generally 2 to 4 bedrooms.
Woodland District 50
K-8 grade centers plus Warren Township High School District 121, which sits directly behind the subdivision.
College of Lake County next door
The community college campus is directly across Route 45 from the neighborhood.
Metra at the doorstep
The Washington Street station (North Central Service) is on the same corridor, with the Grayslake and Prairie Crossing stations nearby.
Active HOA
An annual assessment maintains common areas and runs architectural review of exterior changes.
Unincorporated Warren Township
A Grayslake address, but township-level services like brush and leaf collection follow the Warren Township schedule.
Route 45 frontage
Easy arterial access north and south, connecting toward Route 120, Route 137, and the I-94 corridor.
What’s close
Oakwood sits at Washington Street and Route 45 in unincorporated Grayslake, with Metra, College of Lake County, and the high school all within reach of the neighborhood.
- Amenities on-site
- Ponds, landscaped easements, and wooded common areas maintained by the HOA. This is a natural open-space community rather than a clubhouse-and-pool one.
- Shopping
- Retail and services in the broader Grayslake, Gurnee, and Libertyville area. Confirm the closest shopping by address.
- Hospital
- Hospital resources are within the surrounding Libertyville and Gurnee area. Confirm the nearest current facility by address.
- Highway
- Route 45 connects toward Route 120 and Route 137 and onward to the I-94 (Tri-State) corridor to the east.
- Schools
- Woodland Community Consolidated School District 50 (early childhood through grade 8) and Warren Township High School District 121, per the HOA. Confirm the exact building by address, since attendance areas can change.
- Train
- The Washington Street station (North Central Service) is on the neighborhood's corridor, with the Grayslake / Lake Street station (Milwaukee District North) nearby for service into downtown Chicago.
What it’s actually like to live here
Oakwood suits buyers who want an established, low-key Lake County neighborhood with a bit of nature built in. The HOA leans into that identity: ponds, wooded areas, and maintained easements give the streets a green, settled feel, and the 1990s housing stock means mature landscaping and floor plans sized for families. The mix of townhomes and single-family homes gives the neighborhood a range of price points and a natural path from a first purchase to a move-up home without leaving the area.
The location is the practical draw. Washington Street and Route 45 put commuter rail, College of Lake County, and Warren Township High School essentially at the doorstep, which is unusual convenience for a quiet residential pocket. For a household that values a train option to Chicago, a nearby community college, and a high school within walking distance, the day-to-day logistics are easy.
The honest tradeoffs: being unincorporated means township-level rather than full village services, so things like brush and leaf collection follow the Warren Township schedule. Lake County property taxes are high, which matters as much to affordability as the purchase price. This is a natural open-space community, not a resort-amenity one, so buyers wanting a clubhouse, pool, or gym will look to public parks and preserves nearby. And Route 45 frontage brings the usual arterial-road tradeoff of convenience versus some traffic noise closer to the highway.
Market trends
Why this market moves the way it does
Oakwood spans single-family and townhome product from the 1990s, so value tracks home type, condition, and lot as much as any single figure. The mix gives the neighborhood a natural ladder of price points within one address.
What holds value
The fundamentals matter more than the cosmetics here. Buyers want floor plan, lot, and basement, in that order. Cosmetics are the tiebreaker.
- Home type
- Detached single-family and attached townhomes carry different price bands and different HOA obligations.
- Common-area setting
- Homes backing to ponds or wooded open space tend to draw stronger interest than interior lots.
- The school and CLC location
- Woodland 50 and Warren Township High School plus College of Lake County across the street are a durable, repeatable draw.
- Metra convenience
- Being on the Washington Street rail corridor supports demand for buyers who want a train option to Chicago.
- Condition and updates
- 1990s homes vary in kitchens, baths, and mechanicals, and updated homes hold value better than dated ones.
Real talk
Who shouldn’t buy here
Here is the honest version before you tour.
Do not assume the Grayslake address means Grayslake schools. The HOA itself confirms these homes are in Woodland District 50 and Warren Township High School District 121, not Grayslake D46 or D127. Still confirm the exact building by your specific address, since attendance areas can change.
This is an HOA community with an annual assessment, and dues differ between single-family and townhome. Get the current assessment, the payment schedule, and exactly what it covers in writing for the specific home, and factor townhome versus single-family obligations into your budget.
It is unincorporated Warren Township, so township services and schedules apply, and Lake County taxes run high. Confirm services for the street and pull the current tax bill for the parcel with the Lake County Treasurer rather than estimating off a different home.
One piece of advice
“Oakwood is a quietly convenient pick: a green, established 1990s neighborhood with a train, a community college, and a high school essentially next door. Just get the HOA assessment and coverage in writing, confirm the Woodland 50 and Warren Township schools by address, and remember it is unincorporated Warren Township with high Lake County taxes. Do that and the location does a lot of work for you.”
The questions buyers actually ask
Oakwood FAQ
The questions I get most from buyers shopping Oakwood. If yours isn't here, text 224-385-8779, same-day reply.
- What does the HOA actually cover?
- Oakwood has an active homeowners association with an annual assessment (published payment deadline in mid-February) that maintains the ponds, easements, and wooded common areas and runs architectural review of exterior changes. Dues vary by home type between single-family and townhome, and the exact current amount and coverage are best confirmed with the HOA or its management company for the specific home.
- What are property taxes like?
- Roughly $9,000 – $14,000 per year, depending on home size and value. Lake County assessor records are the source of truth. Happy to pull a specific bill on any home you're considering.
- When was Oakwood built?
- Cambridge Homes (per secondary real-estate sources, treat as likely not primary-confirmed) built the community between 1990 and 1998.
- What's the typical closing timeline?
- 30 to 60 days from accepted offer to keys. Cash deals can close in two weeks. Conventional financing is usually closer to 60.
- Is Oakwood actually in the Village of Grayslake?
- No. The mailing address is Grayslake, but the subdivision is in unincorporated Warren Township. That affects which local services and school districts apply, so verify jurisdiction for a specific address.
- What schools would my kids attend?
- Per the HOA, Woodland District 50 for early childhood through grade 8 and Warren Township High School District 121 for grades 9 to 12, with the high school located just behind the subdivision. Confirm the exact building assignment by address, since attendance areas can change.
- Is there an HOA, and what does it do?
- Yes. The Oakwood Homeowners Association collects an annual assessment, maintains common areas including the ponds, easements, and wooded areas, and runs architectural review for exterior changes. Dues vary by home type, so confirm the current amount and coverage for your specific home with the HOA or its management company.
- What kinds of homes are here and how big are they?
- A mix of single-family detached and attached townhomes from the 1990s, generally in the 2 to 4 bedroom range and roughly 1,000 to 3,200 square feet depending on the plan.
- What do homes cost and how is the market right now?
- That moves with the market, so check the live Market snapshot on this page for current pricing, inventory, and activity rather than relying on a fixed number.
- How is the commute to Chicago?
- Strong for a quiet neighborhood. The Washington Street station (North Central Service) sits on the same corridor as the subdivision, the Grayslake / Lake Street station (Milwaukee District North) is nearby, and Route 45 connects toward the I-94 corridor. Confirm exact walk and drive times for your specific address.
- Who is the real estate agent for Oakwood?
- Joe Keegan is the local licensed Illinois real estate broker who covers Oakwood in Grayslake, IL through Subdiview, a neighborhood-first home search for the Chicago suburbs and collar counties. Joe prices and negotiates from the live MRED sold comps for Oakwood specifically, not national averages, and can help you buy or sell here. Reach Joe at 224-385-8779 or joe@joekeeganhomes.com.
Your local agent
Joe knows Oakwood
Most agents will list anything. I focus on the places I actually know, and the things that move value here don't show up in the MLS write-up: which streets and buildings hold demand, what the HOA or assessments really cover, how the comps read once you account for condition and location, and where buyers consistently want to be.
When you're ready to tour or list, you want someone who has read the last 50 closed comps in this specific market, not a national average, and can tell you what they actually mean for your price. That's how I work. Text or call any time, and I'll give you a real take, not a brochure.
- Licensed Illinois broker
- Comp-driven pricing
- Grayslake specialist
- Honest local market take
- Brokerocity
Market snapshot
Oakwood, by the numbers
Live MRED data, refreshed daily. The numbers below tell you what this market is doing today, not what Zillow's algorithm thinks it might be doing six weeks from now.
Typical list price
$440,000
Typical sale price · last 90 days
$500,000
Homes for sale right now
1
Avg time on market
108 days
Sold in the last year
9
This representation is based in whole or in part on data supplied by Midwest Real Estate Data, LLC for the period July 31, 2025 through July 31, 2026. Midwest Real Estate Data, LLC does not guarantee nor is it in any way responsible for its accuracy. Data maintained by Midwest Real Estate Data LLC may not reflect all real estate activity in the market.
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