Schaumburg · Cook County · IL
Homes for sale in
Lakewood.
- Active listings
- 1
- Median list
- $215K
- Avg time on market
- 89 days
- Sold · last year
- 21
Active listings
1 home on the market
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About the community
An attainable condominium foothold in one of the northwest suburbs' strongest hubs.
Lakewood is an established condominium community on the southwest side of Schaumburg, in Cook County, west of Roselle Road near the Springinsguth Road corridor. The buildings date from the mid-1970s through the 1990s, and the Irish-named lanes (Waterford, Limerick, Killarney, Tipperary) wind around shared green space and water features. It is a low-maintenance, ownership-condominium community that offers one of the more attainable entry points into Schaumburg, with a pool, clubhouse, and tennis on-site and the Woodfield jobs and retail district a short drive away.
At a glance
Condominium community
Attached condominium residences, mostly two-bedroom units, not detached single-family homes.
Built mid-1970s to 1990s
Mature buildings on Schaumburg's southwest side, west of Roselle Road.
Monthly assessment
The condominium assessment covers gas, electric, and shared amenities. Confirm the current figure per unit.
Pool and clubhouse
On-site pool, clubhouse, exercise room, and tennis for residents.
District 54 and 211
Schaumburg CCSD 54 for K-8 and Township HSD 211 for high school.
Metra on the MD-W line
The Schaumburg station offers commuter rail toward downtown Chicago.
Roselle Road and I-90
Quick access to Woodfield and the Jane Addams Memorial Tollway along the village's north edge.
What’s close
Lakewood sits on Schaumburg's southwest side, west of Roselle Road along the Springinsguth Road corridor, minutes from Woodfield and the Schaumburg Park District campus.
- Shopping
- Woodfield Mall and the surrounding Woodfield retail and office district a short drive northeast.
- Recreation
- The Schaumburg Park District's Community Recreation Center and Atcher Island water park on Springinsguth Road, close by.
- Schools
- Schaumburg CCSD 54 for K-8 and Township HSD 211 for high school. Confirm the exact schools by address.
- Train
- The Schaumburg station on Metra's Milwaukee District West line toward Union Station in Chicago.
- Highway
- Roselle Road and the Jane Addams Memorial Tollway (I-90) along the village's north edge.
- Hospital
- Saint Alexius Medical Center in neighboring Hoffman Estates is the nearest full-service hospital.
What it’s actually like to live here
Lakewood suits buyers who want a low-maintenance, attainable foothold in one of the northwest suburbs' strongest job and retail hubs. Ownership here means condominium living: your monthly assessment handles exterior upkeep, the shared grounds, the pool and clubhouse, and per current disclosures gas and electric, so day-to-day maintenance is light compared with a detached house. The location puts you minutes from the Schaumburg Park District's recreation center and water park, plus quick access to Woodfield-area shopping, dining, and employment.
The honest tradeoffs are the tradeoffs of condominium life. You pay a mandatory monthly assessment, you live in close proximity to neighbors in multi-unit buildings, and you are subject to association rules and the health of the association's reserves. Assessments can rise and special assessments are always possible in older communities, so reviewing the association's budget, reserve study, and any pending projects is essential before buying.
Unit sizes are modest and mostly two-bedroom, which fits first-time buyers, downsizers, and investors well, but not a household that needs a large single-family footprint or a private yard. For commuters and value-focused buyers the appeal is real: Schaumburg schools, Metra rail on the MD-W line, expressway access via I-90, and proximity to Woodfield combine with an entry-level-to-mid-range price character that is attainable for the Schaumburg market.
The questions buyers actually ask
Lakewood FAQ
The questions I get most from buyers shopping Lakewood. If yours isn't here, text 224-385-8779, same-day reply.
- How much is the HOA?
- townhomes and condos are $475 per month.
- What does the HOA actually cover?
- Lakewood is a condominium community, so ownership carries a mandatory monthly assessment. Per current disclosures the assessment covers gas, electric, the clubhouse and pool, and common-area maintenance. Assessments vary by unit size and building, so confirm the current figure and any special assessments in the resale disclosure package.
- What are property taxes like?
- Roughly $2,500 – $5,000 per year, depending on home size and value. Cook 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.
- Is Lakewood single-family homes or condominiums?
- Lakewood in Schaumburg 60193, west of Roselle Road, is a condominium community with a mandatory association. The units are mostly two-bedroom attached residences. If you are specifically after detached single-family homes, let your agent know, because Lakewood's product is attached condos.
- Is there an HOA, and what does it cover?
- Yes. As a condominium community, Lakewood has a mandatory monthly assessment. Per current disclosures it covers gas, electric, the clubhouse and pool, and common-area maintenance. Assessments vary by unit and building, so confirm the current amount and any special assessments in the resale disclosure package.
- What schools serve Lakewood?
- Elementary and middle grades fall under Schaumburg Community Consolidated School District 54, and high school is in Township High School District 211 (Schaumburg High School). Assignments are set by address and can change, so confirm the current schools for a specific unit with the districts.
- How is the commute and transit?
- Schaumburg has its own Metra station on the Milwaukee District West line for service toward downtown Chicago, and the community has quick access to Roselle Road and the I-90 tollway along the village's north edge. Woodfield-area employment is a short drive.
- What do units cost and how is the market?
- Pricing here tends to sit toward the attainable, entry-level-to-mid-range end of the Schaumburg ownership market. For current prices, availability, and how quickly units are selling, see the live Market snapshot on this page, which updates with real listing data.
- What should I check before buying a unit here?
- Because this is an older condominium community, review the association's budget, reserve study, insurance, rental rules, and any pending or special assessments, and confirm exactly what the monthly assessment includes. Also verify the current property tax amount and available exemptions for the specific unit with the Cook County Assessor and Treasurer.
- Who is the real estate agent for Lakewood?
- Joe Keegan is the local licensed Illinois real estate broker who covers Lakewood in Schaumburg, 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 Lakewood 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 Lakewood
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
- Schaumburg specialist
- Honest local market take
- Brokerocity
Market snapshot
Lakewood, 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
$214,500
Typical sale price · last 90 days
$199,000
Homes for sale right now
1
Avg time on market
89 days
Sold in the last year
21
This representation is based in whole or in part on data supplied by Midwest Real Estate Data, LLC for the period September 23, 2025 through September 23, 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 Lakewood
Where Lakewood homes go to school
Homes in Lakewood are most often zoned to Schaumburg 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.
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