Island Lake, IL, Real Estate

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Island Lake is a charming village in Lake and McHenry counties, Illinois, known for its serene lakeside setting and small-town vibe. With a population of around 8,000, it offers a tight-knit community atmosphere while being just an hour northwest of Chicago. The village centers around its namesake lake, a 44-acre body of water perfect for fishing, boating, and kayaking, with scenic parks like Water Tower Park providing trails and picnic spots. Island Lake blends suburban tranquility with easy access to urban amenities, making it an ideal spot for families and nature lovers seeking a peaceful retreat in Illinois.

Island Lake currently has 17 single family homes for sale with an average list price of $348,023.47, 6 townhouses for sale with an average list price of $243,283.33, 1 condo for sale with a list price of $260,000, and 8 lots for sale with an average list price of $268,712.50. The average annual property tax for Island Lake is $5,322.07.

Current Homes for Sale

Homes 17 for sale

Condos 1 for sale

Townhouses 6 for sale

Multi-unit 0 for sale

Lots/Land 8 for sale

Short Sales 0 for sale

Foreclosures 0 for sale

New Construction 0 for sale

Schools

School	District	Level	Grades
Chauncey H Duker School	McHenry School District 15	Elementary	4-5
Cotton Creek School	Wauconda Community Unit School District 118	Elementary	P-5
Edgebrook Elementary School	McHenry School District 15	Elementary	P-3
Hilltop Elementary School	McHenry School District 15	Elementary	K-3
Robert Crown Elementary School	Wauconda Community Unit School District 118	Elementary	P-5
Wauconda Elementary School	Wauconda Community Unit School District 118	Elementary	K-5
Matthews Middle School	Wauconda Community Unit School District 118	Middle	6-8
McHenry Middle School	McHenry School District 15	Middle	6-8
Wauconda Middle School	Wauconda Community Unit School District 118	Middle	6-8
McHenry High School-East Campus	McHenry High School District 156	High	9-12
McHenry High School-West Campus	McHenry High School District 156	High	9-12
Wauconda Community High School	Wauconda Community Unit School District 118	High	9-12
Waukegan High School	Waukegan Community Unit School District 60	High	9-12

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Active 55+ Communities

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Most Expensive Homes

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Using the absorption rate, we can determine how long it's taking for homes to sell and which price points are selling the fastest in Island Lake, i.e. what's hot and what's not.

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Recent Sales

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Recent Sales

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Subdivisions

	Subdivisions	Median Price
	Boulevard Park Boulevard Park is a subdivision in Island Lake, Illinois. It currently has no homes for sale. Located in Island Lake, Boulevard Park is off of Palm St. West of Maple. ... Read more
	Campbell Woods Campbell Woods is a single-family home community in Island Lake, Illinois, built in 1999. It currently has no homes for sale. The homes range in size from 1,972 ft2 to 2,824 ft2. The average annual property tax for Campbell Woods is $8,668.29. It is located in Lake County. Campbell Woods is a single family home neighborhood located in Island Lake, Illinois. Campbell Woods is off of Burr Oak Lane and Carriage Hill. ... Read more
	Fox River Shores Fox River Shores is a single-family home community in Island Lake, Illinois, built between 1984 and 1998. It currently has 3 single family homes for sale with an average list price of $346,633.33 and 1 lot for sale with a list price of $65,000. The homes range in size from 1,090 ft2 to 2,998 ft2. The HOA fees range from $75 to $75 per month. The average annual property tax for Fox River Shores is $5,909.75. It is located in McHenry County. Fox River Shores is a townhome and single family neighborhood built in the 1990s. Fox River Shores is located in Island Lake, Illinois. Fox River Shores features homes with floor plans ranging from 1,370 to 1,950 square feet of living space. Fox River Shores is off of west Route 176 and Waterford. ... Read more	Median Price: $300,000
	Highlands Highlands is a single-family home community in Island Lake, Illinois, built in 1984. It currently has no homes for sale. The homes have an average size of 1,900 ft2. The average annual property tax for Highlands is $5,191.36. It is located in Lake County. Highlands is a single family home neighborhood located in Island Lake, Illinois. Highlands are on Woodland Circle north of Honeysuckle. ... Read more
	Highwood Lake Estates Highwood Lake Estates is a single-family home community in Island Lake, Illinois, built between 1992 and 1995. It currently has no homes for sale. The homes range in size from 2,109 ft2 to 3,510 ft2. The average annual property tax for Highwood Lake Estates is $10,806.03. It is located in McHenry County. Highwood Lake Estates is a single family home neighborhood built in the 1990s. Highwood Lake Estates is located in Island Lake, Illinois on Tulip Circle south of W. Dowell Road and east of River Road. ... Read more	Median Price: $545,000

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Subdivisions

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Market Trends

Island Lake home sales for the month of September decreased in volume by 22.2% when compared to last year, while the median sale price rose by 13.8% from $272,500 to $310,000. House sales decreased by 28.6%, while the median sale price rose by 18.2% from $275,000 to $325,000. Condo sales stayed the same, while the median sale price stayed the same. Townhouse sales decreased by 50%, while the median sale price decreased by 1.4% from $236,500 to $233,200.

172	131	123	111
2021	2022	2023	2024
# of sales per year

$215,000	$245,000	$255,000	$270,000
2021	2022	2023	2024
median sale price per year

Median Sale Price for Island Lake

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Number of Sales for Island Lake

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Market Trends

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Nearby Parks

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Nearby Parks

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Real Estate News

	Homes Just Sold in Island Lake: October 21st to October 27th - October 28, 2025 Island Lake had only 1 sale during the week of Tuesday, October 21 to Monday, October 27, including and it was a single family home for sale with a list ... continue reading
	New Homes with Master Bedrooms on the 1st Floor in Island Lake: October 18th to October 24th - October 25, 2025 Island Lake had only 1 new home for sale with a master bedroom on the first floor during the month of Saturday, October 18 to Friday, October 24, and ... continue reading
	New Homes For Sale This Week in Island Lake: October 17th to October 23rd - October 24, 2025 Island Lake had 2 new homes for sale during the week of Friday, October 17 to Thursday, October 23, including including 2 single family homes for sale with an average ... continue reading
	Homes Just Sold in Island Lake: October 14th to October 20th - October 21, 2025 Island Lake had 4 sales during the week of Tuesday, October 14 to Monday, October 20, including including 4 single family homes for sale with an average list price of ... continue reading
	New Homes with Master Bedrooms on the 1st Floor in Island Lake: October 11th to October 17th - October 18, 2025 Island Lake had 3 new homes for sale with a master bedroom on the first floor during the month of Saturday, October 11 to Friday, October 17, including 1 ... continue reading