Lake Zurich IL is a medium town located in the northwest suburbs of Chicago in Lake County. Home buyers looking for a great family community should consider Lake Zurich. Here you’ll find a lot of information about the Lake Zurich IL real estate market and what it’s like to live here. If you are considering buying or selling a Lake Zurich home, please get in touch, I’ve been selling in Lake Zurich for over 10 years. As your Lake Zurich real estate agent my goal is to help you find the perfect Lake Zurich home for your family, or if you’re selling we’ll aim for top dollar and a quick sale to help you move up in Lake Zurich, or on to pastures new. Use our quick price links below to find homes for sale Lake Zurich IL today.
Lake Zurich Homes By Price Range
Lake Zurich Illinois, A Medium Sized Town
Jump Forward To:
- Lake Zurich Illinois, A Medium Sized Town
- Lake Zurich IL Real Estate
- Searching Homes For Sale in Lake Zurich IL
- Hire a Lake Zurich Buyers Agent!
- History of Lake Zurich, IL
- Commuting From Town
- Relocating to Lake Zurich
Lake Zurich’s population was 19,696 as of 2010. The total area is 7.187 square miles and land area is just 6.77 square miles. The zip code is 60047 which is shared by the country neighbor communities of Hawthorn Woods, Kildeer and Long Grove.
Although not yet landlocked, Lake Zurich has not grown much in the last 10 years, with a population increase of only 5.6%. The population density is average with 6563 residential properties. It’s unlikely Lake Zurich’s will increase beyond it’s medium town status as communities border the entire village area with little land left for development and population growth. Lake Zurich is best known for it’s 250 acre glacial lake by the same name, it’s upscale standard of living, and was named as the top place to raise a family in 2015 by NerdWallet.com a finance website. Sandra Bullock dropped the town’s name in the film Gravity as her home town.
Lake Zurich has plenty of commercial property. There’s no end of retail space, a small industrial park with small to medium sized business offering some local employment, medical facilities, and opportunities for investment too. We’ll talk more about the facilities for residents a little later.
Lake Zurich IL Real Estate
What is the Lake Zurich IL Real Estate market like?
The majority of real estate in Lake Zurich’s residential areas are single family homes. Condos are rare and there are a few town home subdivisions. The majority of the single family homes are on planned unit developments built of a medium size from the 1960’s on. There’s a wide variety of home styles and prices in Lake Zurich catering to families looking for a first home, move up home and even luxury homes.
The Lake Zurich real estate market is not big, with 360 sales in 2015. Like any market the best homes always sell fast, poorly maintained homes sit for longer and sell lower than asking price. Worked with an experienced buyers agent, Lake Zurich home buyers can make sure they’ll buy the best home for the best price and never suffer from buyers remorse. As your Lake Zurich real estate agent, I want you to be excited and impatient to close the sale of the house you choose to buy.
Condos in Lake Zurich
Condos are few and far between. We have a few, just 11 sales in 2015 classed as type:condo. Townhomes are available and we’ve had a few new subdivisions built in the last 10 years to open up this tight market. 48 of those 360 sales were of type: town house, coach house or similar.
Lake Zurich Subdivisions Condos & Townhomes
Be prepared to pay up to $400,000 for some of the larger and lakefront town homes. (2016) Condo prices start at $100,000 (2016).There are many planned unit subdivisions offering single family homes.
Lake Zurich Subdivisions – Single Family Homes
Prices are in a range of $100,000 to $700,000. (2016). If you are looking to buy a home in Lake Zurich, I can help you find it. Whether your budget is low or high, Lake Zurich offers a good choice for first time buyers to larger homes. Most lot sizes are typically a builder’s lot size of 10,000 square feet but we do go up to an acre. If you want larger then I can help you explore the neighbor country villages of Hawthorn Woods, Kildeer and Long Grove, your budget for those needs to be a minimum of about $400,000.
You might be hoping for waterfront on the lake, those are quite limited, a lot of the shoreline is dedicated to leisure rather than real estate. Whatever you are looking for, let me know. Lake Zurich’s real estate market is changing, homes are selling very close to asking price now we have recovered. With very low interest rates in 2016, homes are in demand and selling quickly, especially at the lower end.
Chart Of Lake Zurich Median Price
It’s always good to know whether the Lake Zurich real estate market is on the rise or fall. As this chart shows from 2012 Lake Zurich home sales have been increasing, the median price on sale rising to $300,000. This includes all types of real estate including condos and townhomes. For single family homes on their own the price increases to $310,000.
New Construction Homes
All buyers love new construction homes! Well maybe not all but new construction is always popular. New homes are not available in Lake Zurich in quantity. There’s not much land left for development in Lake Zurich. In the last 10 years the new homes have been limited to town homes. conch homes and a few condos.
New single family homes are likely to appear where older homes are torn down, or individual lots are developed with custom homes.
We all have a favorite styles of homes. Lake Zurich has a wide variety of styles including: Colonial, Traditional, Split Level, Raised Ranches, Ranches, Waterfront homes. Lake Zurich is not a luxury homes market but does have large estate sized single family homes at the top end of the price range. These compete with homes in Hawthorn Woods, Kildeer and Long grove. The difference is those neighboring towns offer average 1 acre lots.
Real Estate Taxes
If you live locally I am sure you know that our real estate taxes are “horrible”. Illinois has the highest real estate taxes per the Chicago Tribune, spring 2016. We come close to New Jersey. It makes the process of buying a home hard when your dollar will not stretch as far due to this necessary evil.
That median price of $300,000 is going to bring with is an annual tax bill around $7,000. Lake Zurich is located in Lake County, so our taxes are controlled by them. Each county does have a different rate as it contributes to different schools, colleges, pensions and so forth. Suffice to see they could be better but the could be worse.
Searching Homes For Sale in Lake Zurich IL
We understand that home buyers considering living in Lake Zurich will turn to the internet to start a search. Gone are the days when buyers had to meet a real estate agents office and flip through a yellow pages style book. Everything is available online. This is the perfect way to browse available homes yet retain your anonymity.
Most of you will have heard of Zillow or Trulia. These are called portal websites, they advertise real estate but they DO NOT have all the listings for sale in Lake Zurich or anywhere else for that matter. This is because they are not licensed as real estate brokers. So they rely on us to provide that information. For this reason about 30% of the homes for sale in Lake Zurich will never be found on those web sites. This web site has all the MLS listed homes for sale.
Hire a Lake Zurich Buyers Agent!
If you are going to buy a home in Lake Zurich, hire a buyer’s agent. Buyer’s agents have more experience with buyers, they usually have more closed sales as a buyer’s agent and the true professional will never push you into buying any home. As your buyer’s agent I’ll give you as much guidance as I can, offer opinions as needed. You’ll get sound advice on a potential sales price for the home, an offer strategy, help with financing, and walk you through the process from contract to closing. If you work with the listing agent you’ll miss out on many of these important things. Listing agents can not give you guidance on pricing.
History of Lake Zurich, IL
Two early pioneers settling in Lake Zurich in the 1830’s were George Ela and Seth Paine. Locals will recognize the names as we have Ela Township and Seth Paine elementary school. In the 1840’s New England farmers arrived followed quickly by German immigrants. Lake Zurich was incorporated in 1896. It remained a farming community until Route 12 was built at which time Lake Zurich was now reachable by road and the community became a summertime resort location because of the lake. In the mid 1900’s residential expansion took off and the population grew at a rapid rate. In the 1960’s alone the increase was over 300%. In the 1980’s the population increased over 100%!
Another main highway, Route 22 runs east, west through what was the original town center. In 2006 a bypass was built to go around the town which relieved a lot of the traffic which now flows freely along a 4 lane road. However the loss of traffic did cause some concern for local businesses and retail stores. A downtown redevelopment plan commenced but became quite the contentious battle. The original developer back out but ultimately with a new developer some of the older buildings being removed, a townhouse development known as Somerset Townhomes was built providing lakeview residences of a higher scale. Unfortunately sales were sluggish due to the downturn in the real estate market and economy. The developer abandoned the project causing more grief for the village of Lake Zurich. A third company was hired to finish the project which as of 2016 is still not complete. The new boardwalk along the lake is beautiful. Walk, sit or fish with protection from the traffic.
Shopping In Town
The bulk of the retail for Lake Zurich shifted over from the center of town to Route 12, aka Rand Rd. There’s more space and it provides a large variety of stores, both small and big box. Home Depot, Costco, Walmart, Target, Best Buy, Kohls, Petco, Office Depot are all big box stores found along the route 12 corridor, with many more. We’ve got 2 grocery stores in town and another on the perimeter. Then there are hundreds of smaller stores both known brands and boutique local stores. Shoppers will also go to nearby Deer Park and Kildeer shopping malls for stores like Apple, ATT, Gap, Barnes and Noble.
There’s no lack of places to wine and dine, eat pizza or have a family dinner. From fast food to fine dining, Lake Zurich has it all. Lake Zurich lacks car dealerships but there’s plenty nearby in Palatine and Barrington.
What can you find to do here. Well aside from the lake which provides fishing in all seasons, ice-fishing included. There are 32 parks with 2 beaches, 1 sprayground, 22 playgrounds, nature paths, pre-schools, summer camps, Ela soccer club, Kits Sports Center, Foglia YMCA and a lot more. We have a multi screen theater with all the latest and greatest movies. No matter your age, there’s plenty of leisure available in Lake Zurich, even a ski hill for sledding in winter.
What are Lake Zurich Schools Like
One of the most often asked questions by families! We understand it’s important as most parents want their kids to not just succeed but excel, be better than the rest, get a head start, enjoy sports or do advanced course, depending on age of course.
That’s a hard question for Realtors to answer because it can be subjective. Here’s what I can tell you. The Lake Zurich school district of 95 is considered good. Serving the majority of homes in Lake Zurich and some from nearby communities the schools are:
- Lake Zurich High School
- Lake Zurich Middle School North
- Lake Zurich Middle School South
- Isaac Fox Elementary
- May Whitney Elementary
- Sarah Adams Elementary
- Seth Paine Elementary
- Spencer Loomis Elementary
Report cards give most schools in Lake Zurich a 9 or 10 ranking out of 10. The ACT scores for Lake Zurich High School was 24 for the class of 2015. in 2016 the high school ranked #37 in Illinois and the student ratio was 16:1. Find some excellent information on the Lake Zurich school system here.
Lake Zurich is also home to the large Ela Township Library.
Lake Zurich does not have any colleges but is close to both Harper Community College in Palatine and Lake County College. There are many four year colleges in both the suburbs and city of Chicago, so students are not lacking in options.
Commuting From Town
What is commuting like from Lake Zurich?
While there is some local employment, most residents commute to larger employment bases including many towns along both I-90 and I-94. Towns with large employers include Schaumburg, Elgin, Vernon Hills, Northbrook. The average work commute is 30 minutes. Workers drive, there are no buses. Chicago city is a larger area of employment and the drive to the city is about an hour. Metra trains offer a commute to Chicago but Lake Zurich residents need to drive to either nearby Barrington station or Vernon Hills/Lincolnshire stations.
Chicago is about 44 miles from Lake Zurich and rush traffic can create longer commute times than the normal 1 hour 7 minutes. The typical route by road would be down route 53, a freeway and then join with I-90 a tollway.
What About The Weather?
If you want year round heat then I suggest not coming to Lake Zurich! We are a 4 season climate, we joke we have summer and winter and a quick transition between them called fall and spring. That’s kind of what it feels like. The summers are usually in the 80’sf, winters drop below freezing. Yes we get snow but it’s not as bad as some make out. On average 5 or 6 snowfalls of 6 inches, the rest is a little here and there. As with all seasons we get hotter summers, dryer summers, wetter falls and springs and occasionally a lot of snow. Ela township takes care of the plowing and I would class the service as reasonable. I have to say Cuba township who services the Barrington area absolutely rocks with snow removal.
Extreme weather is rare in Lake Zurich. Snow and biting cold winds are the most common extreme types of weather. Tornados are rare in Northern Illinois.
My Favorite Thing About Lake Zurich Illinois
Shopping – It must be said I don’t live in Lake Zurich but I do live along Route 22. This makes Lake Zurich the perfect place for a lot of our families shopping needs. We are frequent flyers at Home Depot and Costco, also Walmart and more recently Petco (New puppy in house). With all these big box stores located along Route 12 which intersects with Route 22 you don’t have to drive very far to get everything you need. So shopping comes high on my favorite lists.
As for my clients, those who decided living in Lake Zurich was what they wanted, the reasons often came back to schools, home pricing, location, and proximity to work.
Relocating to Lake Zurich
As your buyer’s agent, relocation is our specialty. I have spent my of my life relocating as my Father was in the Royal Air Force (British). As a family we moved every 2 years, sometimes sooner. When I got married I thought that was the end but it turned out not to be. We moved to Illinois with my husband’s job in 1996 from England. Two years after that we went home only to return to Illinois permanently 5 months later. Since then we have moved to Florida with my husband’s job in 2003 and back here again in 2004.
So as a child, a wife, a parent of young children and a pet owner, moving became second nature as did the selling and buying of real estate for each move. I understand that it can be a stressful process, different for each family member. The addition of selling and buying a new home, often on a tight timeframe, adds to the project. Then there’s a new job, new schools and learning a new community.
Because I have been in your shoes, I am perfectly positioned to help you. My life experience helps me help you. You can rest assured that I am not here just to get a quick sale. I am here to help you buy the right new home, to find the right neighborhood for you and your family. I’m here to help with you move in any way I can. Call me to let me know your relocation plans, I would love to hear them.
Contact Corinne Guest, Top Buyers Real Estate Agent in Lake Zurich at 847-363-3686.