Third Lake · Lake County · IL
Homes for sale in
Third Lake.
- Active listings
- 1
- Median list
- $450K
- Avg time on market
- 7 days
- Sold · last year
- 0
Active listings
1 home on the market
About the community
Living in Third Lake.
Third Lake is a very small village in central Lake County, Illinois, with a 2020 Census population of 1,111 spread across just 0.59 square miles of land and 0.26 square miles of water. The village wraps around its two namesake lakes, Third Lake (roughly 155 acres) and the smaller Druce Lake (about 74 acres), which residents enjoy for fishing, boating, swimming, and ice skating. Geographically the village sits between Lake Villa to the north and Grayslake to the south, with commercial frontage along the U.S. Route 45 corridor. Public schools serve K-8 students through Community Consolidated School District 46 and high school students through Grayslake Community High School District 127. Commuters reach downtown Chicago in roughly an hour by car or via the Metra Milwaukee District North line from the nearby Round Lake or Grayslake stations.
At a glance
1,111 residents (2020 Census)
Just 0.59 square miles of land and 0.26 square miles of water. One of the smaller villages in Lake County.
Incorporated 1959
Village was incorporated largely to address pollution concerns on the lakes and pressure from outside development.
Third Lake + Druce Lake
Two connected village lakes (roughly 155 acres and 74 acres) used for fishing, boating, swimming, and ice skating. Access reserved for residents.
CCSD 46 + Grayslake CHSD 127
K-8 through Community Consolidated School District 46 (Avon Center School serves Third Lake), then 9-12 at Grayslake Central or Grayslake North in CHSD 127.
Median income ~$150,893
Per Data USA 2023. Among the higher-income villages in Lake County by per-household metrics.
Lake County property tax ~2.61% to 2.68%
County-wide effective rate per Ownwell and PropertyTaxRates.org, with a county median annual bill near $8,743.
Median age 48.6 (2020)
Older household profile than the broader Lake County average. Data USA 2023 estimate is 50.1.
U.S. Route 45 corridor
Main north-south commercial frontage through the village, with IL Route 132 / Grand Avenue as the nearest east-west arterial.
What’s close
Third Lake sits between Lake Villa to the north and Grayslake to the south, with the village wrapped around Third Lake and the smaller Druce Lake just east of U.S. Route 45.
- Third Lake (the lake)
- The village's namesake water body, approximately 155 acres, used for fishing, boating, and swimming. Access reserved for village residents.
- Druce Lake
- The smaller of the two village lakes, roughly 74 acres, connected to Third Lake by a small channel.
- U.S. Route 45 corridor
- The village's main commercial frontage, running north-south through the area.
- Rollins Savanna Forest Preserve (adjacent)
- 1,253-acre Lake County Forest Preserve with a looped trail through restored grassland and wetlands, immediately south near Grayslake.
- Village Hall
- 87 N. Lake Ave., Third Lake, IL 60030. Non-Home Rule village governed by a mayor and six trustees elected at large.
- Sunshine Subdivision
- Historic 84-home neighborhood platted in the late 1920s, still anchoring part of the village's early-cottage core.
What it’s actually like to live here
Life in Third Lake centers on the water. Both Third Lake and Druce Lake offer fishing for largemouth bass, bluegill, black crappie, and northern pike, plus boating, swimming, and winter ice skating, all with access reserved for village residents. The village's small footprint (just over half a square mile of land) means residents know their neighbors, and the housing stock skews toward single-family homes on lake-adjacent or wooded lots, including the historic Sunshine Subdivision dating to the 1920s.
Day-to-day services and entertainment flow to neighboring towns. Grayslake's downtown Village Center, just a few minutes south, hosts diners, cafes, sports bars, and the Dog n' Suds drive-in. Lake Villa, to the north, is home to the historic Lehmann Mansion event venue and Lehmann Park on Cedar Lake. Rollins Savanna Forest Preserve, one of Lake County's largest, sits within a short drive and provides looped trails through restored grassland and wetlands.
Neighborhoods
Detailed Third Lake community pages coming soon.
Browse the listings above. Detailed neighborhood pages with market stats, school info, and lifestyle take-downs land here as we roll them out.
Schools
Districts serving Third Lake.
Boundary lines do shift. Always confirm in writing for a specific address before writing an offer.
- CCSD 46Grades Pre-K - 8
Community Consolidated School District 46 (Grayslake)
Schools serving the area
- Avon Center School (K-4, serves Third Lake)
- Frederick School
- Park Campus
- Prairieview School
CCSD 46 serves K-8 across Grayslake, Hainesville, Round Lake, Round Lake Beach, Lake Villa, and Third Lake. Avon Center School at 1617 N. IL-83 explicitly serves portions of Third Lake. Avon CCSD 37 is a separate district and does NOT serve Third Lake.
- CHSD 127Grades 9 - 12
Grayslake Community High School District 127
Schools serving the area
- Grayslake Central High School
- Grayslake North High School
Two-high-school district receiving feeders from CCSD 46. Confirm boundary in writing per address before writing an offer.
Around town
What there is to do in Third Lake.
A handful of the places people who live here actually use. Not a directory.
- Parks
Rollins Savanna Forest Preserve
1,253-acre Lake County Forest Preserve with a looped trail, boardwalks, and excellent birding, just south of Third Lake.
- Culture
Lehmann Mansion (Lake Villa)
1912 summer mansion now owned by the Village of Lake Villa, used for weddings, concerts, classic car shows, and public events.
- Family
Third Lake + Druce Lake (resident access)
Resident-access fishing, boating, swimming, and winter ice skating on the village's two private lakes.
- Food & Drink
129 Center Cut (Grayslake)
Casual downtown steakhouse with craft cocktails, wood-fired pizza, and live music in the Grayslake Village Center.
- Food & Drink
Dog n' Suds (Grayslake)
Classic seasonal drive-in restaurant in the Grayslake Village Center, open March to October.
- Parks
Lake County Forest Preserves programming
Hikes, paddling, and nature programs at Rollins Savanna and nearby preserves through the Lake County Forest Preserves District.
Getting around
Commute + transit from Third Lake.
DriveBy car
- Routes: U.S. Route 45 (north-south through the village commercial corridor) · IL Route 132 / Grand Avenue (nearby east-west arterial) · IL Route 83 (north-south corridor through neighboring Round Lake Beach and Lake Villa)
- O'Hare Airport: ~42 min
- Chicago Loop: ~62 min
By the numbers
Third Lake taxes + market stats.
Property tax rates vary by exact township and assessor district. Confirm per address before pricing a purchase.
Property tax rate
2.65%
effective avg
Sales tax
7.00%
combined
Median sold price
$415,000
MRED · last 12 mo (13 sales)
Median household income
$150,893
ACS
How Third Lake got here
A bit of history.
The Alexander Druce family were the earliest documented residents of the settlement in 1861, eventually owning the land around what is now Druce Lake (originally 'Second Lake') and Chittendon Lake. In the early 1900s the lakes drew Chicago-area visitors to lakeside resorts, summer cottages, and small community businesses that thrived during the warm season. The Sunshine Subdivision, an 84-home neighborhood that still anchors part of the village, was platted in the late 1920s. Chittendon Lake was renamed Third Lake in 1954 as the area shifted from a seasonal resort identity toward year-round residency.
Third Lake was incorporated as a village in 1959, largely in response to concerns about pollution of the lakes and pressure from outside development. Despite incorporation, significant residential build-out occurred in the mid-1980s through a development syndicate that expanded the village's housing stock beyond its early-cottage core. Today Third Lake is a quiet residential community governed as a Non-Home Rule village by a mayor and six trustees elected at large, with commercial activity concentrated along the Route 45 corridor and private lake access reserved for residents.
The questions buyers actually ask
Third Lake FAQ
The questions I get most from buyers shopping Third Lake. If yours isn't here, text 815-355-0582, same-day reply.
- How big is Third Lake, Illinois?
- As of the 2020 Census, Third Lake had a population of 1,111 across 0.59 square miles of land and 0.26 square miles of water. It is one of the smaller villages in Lake County.
- When was Third Lake incorporated?
- Third Lake was incorporated as a village in 1959, largely to address pollution concerns on the lakes and to manage outside development pressure.
- What school districts serve Third Lake?
- Grade K-8 students attend schools in Community Consolidated School District 46 (Avon Center School serves Third Lake addresses), and high school students attend Grayslake Central or Grayslake North in Grayslake Community High School District 127. Note that Avon CCSD 37 is a separate Lake County district and does not serve Third Lake.
- Can anyone use Third Lake and Druce Lake?
- No. Both lakes are private, and access is reserved for Village of Third Lake residents who use them for fishing, boating, swimming, and ice skating.
- What is the nearest Metra station to Third Lake?
- Third Lake has no station of its own. The nearest commuter stations are Round Lake and Grayslake, both on Metra's Milwaukee District North (MD-N) line into downtown Chicago.
- How long is the drive from Third Lake to downtown Chicago?
- Roughly 54 to 58 miles to the Loop, typically about an hour by car in normal traffic. Chicago O'Hare is about 36 miles and around 42 minutes away.
- What is the property tax burden like?
- Third Lake is in Lake County, which has one of the highest property tax burdens in the U.S., with a county-wide effective rate of roughly 2.61 to 2.68 percent and a median annual bill near $8,743.
Nearby
Towns next to Third Lake.
If you’re cross-shopping the area, these are the places that border Third Lake.
Your local agent
Joe knows Third Lake
Most agents will list anything. I focus on the communities I actually know, and the details that determine resale value here aren't in the MLS write-up: which lots back to open space, which streets carry the most consistent demand, which floor plans buyers ask for by name, and what each HOA actually covers.
When you're ready to tour or list, you want someone who's walked the streets, talked to the residents, and read the last 50 closed comps in this market specifically. That's how I work. Text or call any time, and I'll give you a real take, not a brochure.
- Lives in McHenry County
- Local specialist
- Third Lake specialist
- Honest local market take
- Brokerocity
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
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