Considering A Second Home Or Retreat In Lake Forest
Dreaming about a second home that feels like an escape without requiring a long getaway? Lake Forest offers a rare mix of shoreline scenery, preserved land, and everyday convenience that can make a retreat property feel both relaxing and practical. If you are weighing whether this North Shore community fits your lifestyle, this guide will help you think through what Lake Forest offers, what types of homes may suit your goals, and how to start your search with clarity. Let’s dive in.
Lake Forest stands out because it feels removed from the pace of city life while still staying connected to it. The city sits about 30 miles north of downtown Chicago and offers access via I-94 as well as Metra service on the Union Pacific North line, according to official city information. That means your second home can feel like a true change of setting without behaving like a remote destination.
The setting also supports the idea of a true retreat. Lake Forest fronts Lake Michigan with more than three miles of shoreline and more than half a mile of public beach. The city also highlights Forest Park, a 37-acre park above the beach with walking trails and expansive lake views, which adds to the everyday appeal of spending time here.
If you are considering a second home in Lake Forest, it helps to understand the market context. The 2024 Census estimate puts the population at 19,642, and Census QuickFacts reports an 88.8% owner-occupied housing rate and a median owner-occupied home value of $938,300. CMAP also estimates a median household income of $228,120, reinforcing Lake Forest’s place in the premium suburban segment.
The upper-end nature of the market is especially relevant for second-home buyers. A 2023 city document using 2017-2021 ACS data reported that 30.2% of owner-occupied homes were valued at $1 million or more, based on city materials. In other words, this is not an entry-level second-home market. It is better suited to buyers looking for quality, setting, and long-term lifestyle value.
The shoreline is a major draw, but Lake Forest offers more than one kind of outdoor experience. Lake Forest Open Lands preserves 930 acres across ten preserves and more than 20 miles of public trails. Those landscapes include prairies, savannas, woodlands, wetlands, ravines, streams, and lakeshore.
For you as a second-home buyer, that variety matters. It means your time in Lake Forest does not have to revolve around one seasonal amenity. Whether you want a morning walk, a scenic trail run, or a quiet weekend outdoors, the community offers multiple ways to enjoy the setting throughout the year.
The city is also continuing to invest in public spaces. Recent updates note the ADA-compliant Forest Park Beach Pathway and improvements at Deerpath Community Park, including pickleball courts, walking trails, fitness stations, pavilions, and a nature trail, as described in the city’s Summer 2024 update. For buyers who plan to use a second home regularly, that kind of reinvestment can add to the long-term appeal.
Many retreat destinations offer scenery but little day-to-day ease. Lake Forest has a more balanced setup. The city describes Market Square as the heart of the central business district and the first planned shopping center in the United States, surrounded by boutique retail, restaurants, the commuter station, City Hall, and the Post Office.
That walkable core can be especially valuable if you want a second home that is simple to enjoy on short notice. You may prefer the ability to arrive for the weekend, park the car, and move around town with ease. For some buyers, that convenience matters just as much as privacy or square footage.
A second home often works best when it offers more than a beautiful property. Lake Forest has a set of cultural and civic anchors that can make part-time living feel fuller and more connected. Gorton Center serves as a gathering place for cultural arts, education, charitable service, films, classes, and live music, and it is located steps from the Metra station and within walking distance of downtown dining.
Lake Forest College also contributes public lectures, performing arts, and community engagement opportunities, according to the research provided. Ragdale adds another layer with its artist residency campus and creative programming. The History Center of Lake Forest-Lake Bluff and the Deer Path Inn round out a lifestyle that feels established, active, and year-round rather than purely seasonal.
Your best starting point in Lake Forest is not just price. It is use case. The housing mix points to a few different paths depending on how you want the property to function.
CMAP reports that 76.4% of Lake Forest housing units are single-family detached homes, 7.5% are single-family attached homes, and 11.9% are in buildings with 20 or more units, based on this community snapshot. The same source reports a median of 8.4 rooms per home and notes that 22.4% of homes have five or more bedrooms.
That profile suggests you may find several practical directions:
If you want a lock-and-leave property, an in-town home near Market Square and the Metra station may be the right fit. This type of purchase can be appealing if you expect frequent weekend use, easy arrivals and departures, and less exterior upkeep. For buyers splitting time between multiple residences, convenience can be the deciding factor.
If your main goal is scenery and a sense of escape, you may lean toward homes oriented around lake views, proximity to the shoreline, or beach access. These properties can deliver the strongest retreat feeling. They may also come with different maintenance considerations depending on the home’s age, lot, and setting.
If privacy, guest space, or outdoor room is high on your list, larger-lot properties near preserved land may be worth exploring. Given Lake Forest’s detached-home concentration and larger average home sizes, this can be a strong fit for buyers who plan to host family and friends. It may also appeal to those who want a more estate-style experience.
A second-home search becomes much easier when you define how you want to live in the property. Before you focus on specific homes, it helps to answer a few practical questions.
These questions matter because the right Lake Forest purchase can look very different from one buyer to the next. A low-maintenance in-town residence and a larger bluff-side property may both be excellent choices, but not for the same lifestyle.
When you buy a second home, you are not just buying a place to stay. You are buying ease, flexibility, and a certain way of spending your time. In Lake Forest, the strongest value often comes from matching the property to your real habits, not your idealized ones.
For example, if you know you want spontaneous weekend trips, simple access and a manageable footprint may serve you better than a larger property that requires more upkeep. If you expect extended stays, entertaining, or multigenerational visits, extra space and privacy may justify the tradeoff. The goal is to align the home with how you will actually use it.
In a premium market like Lake Forest, details can shape both lifestyle and value. The difference between walkable convenience, lake-oriented living, and a more private setting near open land is not just about location on a map. It affects your maintenance load, how often you use the home, and how well the property supports your long-term goals.
That is why second-home buyers often benefit from experienced local guidance early in the process. A thoughtful strategy can help you narrow the search, weigh tradeoffs clearly, and focus on the type of property that best fits your priorities.
If you are considering a second home or retreat in Lake Forest, working with a team that understands the North Shore can make the process more focused and less stressful. The Wexler Gault Group offers local market insight, buyer representation, and white-glove transaction support to help you evaluate your options with confidence.
CONTACT THE WEXLER GAULT GROUP
THE WEXLER GAULT GROUP
1741 2nd Street Highland Park, IL 60035