Round Lake · Lake County · IL
Homes for sale in
Valley Lakes.
- Active listings
- 2
- Median list
- $430K
- Avg time on market
- 3 days
- Sold · last year
- 20
Active listings
2 homes on the market
Beat the rest of the buyers
Be the first to know when a new Valley Lakes home hits the market
Save the search and you will get a text and an email the moment a new listing matches. Most Valley Lakes homes go under contract in the first week, the buyers who win are the ones who saw it first.
About the community
A master-planned community built around water and open space.
Valley Lakes is a large master-planned community on the west side of Round Lake in Lake County, developed from the late 1990s into the mid-2000s by a mix of builders including Cambridge, Centex, Neumann, and Remington. It is designed around ponds, preserved wetlands, and hundreds of acres of association open space, with detached single-family homes plus a set of townhome enclaves. The character is a settled, family-oriented commuter suburb: mature landscaping, sidewalks and paths, and Round Lake Area Park District playgrounds and ball fields woven right into the neighborhood.
At a glance
Roughly 1,170 homes
Detached single-family homes plus townhome enclaves under a master association.
Ponds and wetlands
Two dozen-plus ponds and preserved wetlands held as association open space.
Scenic water only
The ponds are for stormwater and wildlife; swimming, boating, and fishing are not permitted.
Hundreds of acres open
Landscaped buffers, greenways, and internal walking paths throughout.
Park District parks
Heron View, Meadowview, and neighborhood parks run by the Round Lake Area Park District.
District 116 schools
Round Lake Area Schools CUSD 116, with Round Lake High School serving the district.
Late-90s to mid-2000s homes
Three to five bedroom plans, many with basements, plus townhomes at the entry end.
Metra to Chicago
Milwaukee District North line from the Round Lake area to Union Station.
Built out
An established resale community with no active new construction.
What’s close
Valley Lakes sits in central Lake County off Nippersink Road, between Fairfield Road and Wilson Road, with Rollins Road retail a short drive north.
- Shopping
- Big-box, grocery, and dining along Rollins Road and Route 83 in neighboring Round Lake Beach.
- Hospital
- Advocate Condell immediate care in Round Lake Beach; the full hospital campus is in Libertyville.
- Train
- Metra Milwaukee District North to Chicago Union Station from the Round Lake area.
- Parks
- Round Lake Area Park District playgrounds and ball fields inside and around the community.
- Highways
- Route 134, Route 120, Fairfield Road, and Cedar Lake Road, with Route 60 and Route 83 nearby.
- Airport
- O'Hare International, roughly an hour southeast by car.
What it’s actually like to live here
Valley Lakes lives like a practical, green everyday suburb rather than a resort. The community was laid out around water and open land, so ponds, mature trees, and preserved wetlands frame the streets, and a network of sidewalks and paths makes it walkable for families and dog owners. Park District playgrounds and ball fields sit right in the neighborhood, and the greater Round Lake area adds forest preserves and public lakes for recreation.
The honest tradeoff is in the name. The ponds and wetlands are scenic and good for stormwater and wildlife, but the governing documents keep them off limits for swimming, boating, and fishing, so buyers expecting a lake lifestyle should recalibrate. Recreation here comes from Park District parks and forest preserves, not a private HOA clubhouse or pool, and any clubhouse or pool claim on a third-party listing site is worth verifying before you rely on it.
The other tradeoffs are commute and cost. This is a far-northwest Lake County location, so downtown Chicago is a long Metra ride and daily errands lean on the car, and Lake County property taxes run on the higher side for the region. The community also carries an architectural review process, so exterior changes like decks, fences, and sheds need approval, which some owners value for consistency and others find restrictive.
Market trends
Why this market moves the way it does
Valley Lakes is an established resale community with a mix of detached single-family homes and townhomes, so it trades on home size, condition, and lot position more than on any single headline number. The open-space setting and the Park District parks are durable draws, and updated homes on premium lots tend to lead the market.
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.
- Construction era
- Built from the late 1990s into the mid-2000s across several builders, so floor plans and finishes vary; updated homes hold value best.
- Single-family vs townhome
- Detached homes anchor the upper end of the community's range; townhomes in Nature's Cove and Remington Trails are the entry point.
- Lot position
- Homes backing to a pond or open space carry a premium over interior lots that back to another house.
- Basements
- Many single-family plans have full or look-out basements, and a finished basement adds a real resale premium.
- HOA structure
- A modest annual master assessment for all owners, with a separate monthly sub-association fee on the townhomes.
Real talk
Who shouldn’t buy here
Here is the honest version before you tour.
Do not buy here for a lake lifestyle. The ponds are scenic stormwater and wildlife features, and swimming, boating, and fishing on them are prohibited by the association. If open water matters to you, plan on the public lakes and Park District facilities in the greater Round Lake area instead.
Model the full cost of ownership. Lake County taxes are on the higher side for the region, and townhome buyers carry a sub-association fee on top of the master assessment. Pull the actual tax history and confirm the current dues for the specific home rather than estimating.
One piece of advice
“Valley Lakes is strong value for buyers who want newer-than-average space and a green, walkable setting without north-shore prices. Just go in clear-eyed: the ponds are for looking at, not boating on, the recreation comes from the Park District rather than a private clubhouse, and the taxes are a real monthly line item. Get those three things straight and it is an easy community to recommend.”
The questions buyers actually ask
Valley Lakes FAQ
The questions I get most from buyers shopping Valley Lakes. If yours isn't here, text 224-385-8779, same-day reply.
- What does the HOA actually cover?
- Every owner belongs to the Valley Lakes master association, which maintains the common open space, ponds, entrance monuments, and landscape buffers and enforces architectural standards through a review committee. The master assessment is billed annually and is relatively modest. Townhome owners in the Nature's Cove and Remington Trails enclaves pay an additional monthly sub-association fee that covers items like private roads and snow removal. Confirm the current dues for a specific home with the management company or the seller disclosure.
- What are property taxes like?
- Roughly $9,000 – $12,000 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 45 days from accepted offer to keys. Cash deals can close in two weeks. Conventional financing is usually closer to 45.
- Can you boat or fish on the lakes in Valley Lakes?
- Not the way the name suggests. The ponds and wetlands throughout Valley Lakes are association-owned open space used for stormwater and wildlife, and the governing documents prohibit swimming, boating, fishing, and skating on them. For open-water recreation, residents use nearby public lakes and Round Lake Area Park District facilities.
- Is there an HOA, and what does it cover?
- Yes. Every owner belongs to the Valley Lakes master association, which maintains the common open space, ponds, entrance monuments, and landscaping and enforces architectural standards. Townhome owners also pay a separate monthly sub-association fee that covers items like private roads and snow removal. Confirm the current dues for a specific home with the management company or seller disclosure.
- What schools serve Valley Lakes?
- Valley Lakes is in Round Lake Area Schools CUSD 116, with Round Lake High School serving the whole district. The specific assigned elementary and middle school depends on the home's attendance boundary, so confirm the current assignment with the district before you rely on it.
- How is the commute to Chicago?
- Valley Lakes is served by the Metra Milwaukee District North line to Chicago Union Station from the Round Lake area, and Route 134, Route 120, and Fairfield Road feed the local corridors. It is a commuter-friendly spot, though it is a far-northwest suburb, so plan for a long train ride to the Loop.
- What do homes cost, and how is the market right now?
- Pricing and activity are best read live rather than quoted from memory. See the Market snapshot on this page for current prices, days on market, and inventory. Qualitatively, Valley Lakes offers newer construction and space at generally attainable Lake County price points, with townhomes at the entry end and larger single-family homes above.
- Are property taxes high?
- Lake County property taxes run on the higher side for the Chicago region, generally landing in an approximate effective range of about 2.0% to 2.7% of market value, and the Round Lake area often sits toward the upper part of that band. The actual bill depends on the home's assessed value, current levies, and exemptions, so verify a specific parcel with the Lake County Treasurer or Assessor.
- Who is the real estate agent for Valley Lakes?
- Joe Keegan is the local licensed Illinois real estate broker who covers Valley Lakes in Round Lake, 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 Valley Lakes 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 Valley Lakes
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
- Round Lake specialist
- Honest local market take
- Brokerocity
Market snapshot
Valley Lakes, 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
$430,000
Typical sale price · last 90 days
$435,000
Homes for sale right now
2
Avg time on market
3 days
Sold in the last year
20
This representation is based in whole or in part on data supplied by Midwest Real Estate Data, LLC for the period August 10, 2025 through August 10, 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.
Thinking of selling?
What's your home actually worth?
Not a Zestimate. A real CMA from someone who's sold this neighborhood, knows the floor plan premiums, and can tell you which upgrades the buyer pool here actually pays for.
- Pricing range with comp-by-comp logic
- Pre-list improvements that pay back, and the ones that don't
- No obligation, no spam, no auto-dialer
Schools serving Valley Lakes
Where Valley Lakes homes go to school
Homes in Valley Lakes are most often zoned to Grant Community HS. Open a school to see its area, the district, and every home for sale that feeds it.
School assignment is derived from the school the MRED listing agent entered and is not a guarantee. Always verify current attendance boundaries with the district before writing an offer.
Other communities