Gurnee · Lake County · IL
Homes for sale in
Grandwood Park.
- Active listings
- 0
- Median list
- $295K
- Avg time on market
- 9 days
- Sold · last year
- 16
Active listings
0 homes on the market
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About the community
An established, lake-centered neighborhood just outside Gurnee.
Grandwood Park is a mature single-family neighborhood in unincorporated Warren Township, Lake County, with Gurnee mailing addresses. It built out from the early 1960s into the 1980s around Grandwood Lake, a small impoundment on Mill Creek, and it is also a Census-designated place with its own civic association and park district. The character is settled and green: older homes on established lots, mature trees, and a chain of small neighborhood parks. Because it is unincorporated, day-to-day identity runs through the township, the park district, and the county rather than a village hall, which is the first thing a buyer should understand about the area.
At a glance
Grandwood Lake
The neighborhood is built around a small lake on Mill Creek, with a lakefront park.
Own park district
The Grandwood Park Park District runs Lake Park, sport courts, several small parks, and a walking loop.
Woodland District 50
K-8 grade centers (Primary, Elementary, Intermediate, Middle), then Warren Township High School.
Established single-family homes
A mix of ranches, split-levels, and two-stories from the 1960s through the 1980s.
Unincorporated Warren Township
A Gurnee address, but services run through the township, park district, and county, not a village.
Community events
The park district hosts lakeside summer concerts, a fall festival, and food-truck nights.
Minutes from I-94
Close to the Route 132 (Grand Avenue) interchange and the Gurnee retail corridor.
Attainable for the area
One of the more accessible ways into the Woodland 50 and Warren Township school footprint.
What’s close
Grandwood Park sits east of Route 45 and north of Grand Avenue (Route 132), a short drive west of I-94 and the Gurnee retail corridor.
- Amenities on-site
- Grandwood Lake and Lake Park, sport courts, several small neighborhood parks, and a walking loop run by the park district.
- Shopping
- Gurnee Mills and the Grand Avenue retail corridor are a short drive east near I-94.
- Hospital
- Hospital options in the surrounding Lake County area include facilities in Gurnee, Libertyville, and Waukegan. Confirm the nearest current facility.
- Highway
- I-94 (Tri-State) at the Route 132 interchange, roughly a couple of miles east, for the trip toward O'Hare and Chicago.
- Schools
- Woodland Community Consolidated School District 50 (K-8) and Warren Township High School District 121. A small edge of the area falls in Millburn District 24, so confirm by address.
- Train
- No station in the neighborhood. Pace bus runs the Grand Avenue corridor to the Waukegan Metra station on the Union Pacific North line.
What it’s actually like to live here
Grandwood Park trades flash for value. The neighborhood grew up around its lake, and daily life centers on the park district's chain of small parks, the lakefront, the sport courts, and a friendly calendar of community events like summer concerts and food-truck nights. It appeals to buyers who want mature trees, established lots, and a real neighborhood feel rather than a uniform new subdivision.
The practical draw is access. You are minutes from I-94, Route 45, Gurnee Mills, and the wider entertainment corridor, while sitting in a residential pocket that feels a step removed from the retail bustle. Families are often drawn by the Woodland 50 and Warren Township High School footprint at a price point that tends to be more attainable than newer Gurnee subdivisions.
The honest tradeoffs come with the territory. This is unincorporated, so it is worth confirming who provides water, sewer, and road maintenance for a given street, and services run through the township and county rather than a village. The housing stock is older, so condition and updates vary house to house and an inspection matters. Lake County property taxes are high relative to much of the country. And the community has a real flood history: the Grandwood Lake dam failed in 2017 and was rebuilt in 2019, so a floodplain check is smart on any lake-adjacent or low-lying parcel.
Market trends
Why this market moves the way it does
Grandwood Park is an established, mid-market Lake County neighborhood where value tracks condition, lot, and proximity to the lake and parks more than any single headline number. The stock spans several decades, so an updated home and a dated one at the same address size can sit far apart on price.
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.
- Lake and park proximity
- Homes near Grandwood Lake, the lakefront park, or the walking loop tend to draw stronger interest than interior lots.
- Condition and updates
- With homes from the 1960s through the 1980s, kitchens, baths, roofs, and mechanicals vary widely and move the price.
- The school footprint
- Access to Woodland 50 and Warren Township High School at an attainable price is a durable, repeatable draw for families.
- Floodplain status
- Lake-adjacent and low-lying parcels should be checked for floodplain designation, which can affect both cost and insurability.
- Unincorporated services
- Buyers weigh township and county services versus village services, which can influence demand street to street.
Real talk
Who shouldn’t buy here
Here is the honest version before you tour.
This is an unincorporated area with a Gurnee address, so confirm the basics for the specific street: who provides water and sewer, who maintains the road, and which taxing bodies apply. Those answers vary within the neighborhood and they matter more here than in a village with uniform services.
The homes are older and were built across roughly a quarter century, so quality and floor plans differ a lot from block to block. Tour the specific home and get it inspected rather than assuming the neighborhood is uniform, and pay attention to mechanicals and any past water intrusion given the area's flood history.
Lake County taxes are a genuine ongoing cost, and the lake that gives the neighborhood its name also comes with a flood story worth respecting. The dam was rebuilt in 2019, but for any lake-adjacent or low parcel, pull the floodplain map and the flood history before you commit.
One piece of advice
“Grandwood Park is a solid, attainable way into the Woodland 50 and Warren Township school area, with a lake and a real park district in your back yard. Just treat it like the unincorporated, older neighborhood it is: confirm services and schools by address, inspect the specific home, and check the floodplain on anything near the water. Do that and it is honest value in a high-tax county.”
The questions buyers actually ask
Grandwood Park FAQ
The questions I get most from buyers shopping Grandwood Park. If yours isn't here, text 224-385-8779, same-day reply.
- What are property taxes like?
- Roughly $6,000 – $9,000 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.
- 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 Grandwood Park part of the Village of Gurnee?
- No. It is an unincorporated Census-designated place in Warren Township with Gurnee mailing addresses. It has its own civic association and park district, and services run through the township and county rather than a Gurnee village government, though it sits right against Gurnee.
- Does Grandwood Park have an HOA with mandatory dues?
- For the neighborhood as a whole, generally no. Shared spaces run through a voluntary civic association and a tax-funded park district. One pocket within it, The Shires, does have its own homeowners association. Always confirm HOA status and any dues for the specific address you are buying.
- What schools would my children attend?
- Most of Grandwood Park is in Woodland District 50 (K-8, which uses grade centers: Primary, Elementary, Intermediate, and Middle) with Warren Township High School District 121 for grades 9 to 12. A small edge of the area falls in Millburn District 24 instead, so confirm the assignment by your exact address with the districts.
- What do homes cost here and how fast do they sell?
- Pricing and pace change with the market, so check the live Market snapshot on this page for current numbers. In general, Grandwood Park is one of the more attainable, mid-market ways into this part of Lake County.
- How are the property taxes?
- Lake County carries relatively high effective property tax rates, broadly in the low-to-mid 2 percent range of market value. Your actual bill depends on assessed value, the specific taxing bodies including the park district, and exemptions, so verify the exact figure for a specific parcel with the Lake County Treasurer.
- Is flooding a concern near the lake?
- It is worth checking. The Grandwood Lake dam failed in 2017 and was rebuilt in concrete and steel in 2019. For any lake-adjacent or low-lying parcel, review the floodplain map and flood history before you buy, since it can affect cost and insurability.
- Who is the real estate agent for Grandwood Park?
- Joe Keegan is the local licensed Illinois real estate broker who covers Grandwood Park in Gurnee, 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 Grandwood Park 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 Grandwood Park
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
- Gurnee specialist
- Honest local market take
- Brokerocity
Market snapshot
Grandwood Park, 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
$294,950
Typical sale price · last 90 days
$333,500
Avg time on market
9 days
Sold in the last year
16
This representation is based in whole or in part on data supplied by Midwest Real Estate Data, LLC for the period August 2, 2025 through August 2, 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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