Third Lake, Illinois, is a serene village in Lake County with a population of 1,111 as of the 2020 census, offering a tranquil escape about an hour’s drive from Chicago. Nestled around its namesake 155.5-acre Third Lake and the smaller Druce Lake, the village is known for its natural beauty, providing opportunities for fishing, boating, swimming, and skating, though lake access requires a resident boat sticker. Incorporated in 1959 to protect its environment and limit development, Third Lake maintains a quiet, residential charm with subdivisions like Sunshine and Mariner’s Cove, developed in the 1920s and 1980s, respectively. The village is home to the New Gračanica Monastery, a cultural landmark and North American headquarters for the Serbian Orthodox Eparchy, featuring a stunning replica of the Kosovo Gračanica monastery built in 1984.

Third Lake currently has 3 single family homes for sale with an average list price of $450,633.33 and 2 lots for sale with an average list price of $82,500. The average annual property tax for Third Lake is $10,127.76.