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Foreclosure Homes in Third Lake, IL

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Third Lake, IL Foreclosures

How much do homes sell for in Third Lake, IL?
The average home price is currently $361,792.
In Third Lake, IL, how many homes are available?
There are currently 429 active home listings available in Third Lake.
What’s the average rental cost in Third Lake, IL?
The average rental price in Third Lake is $1,991.
What is the most expensive home in Third Lake, Illinois?
The most expensive home sold in Third Lake had a price of $1,123,642.
What is currently the cheapest priced home in Third Lake, IL?
The cheapest home for sale in Third Lake is priced at $43,193.

Home Value Estimator For Third Lake, IL

There are currently 429 real estate properties in Third Lake, IL, with a median automated valuation model (AVM) price of $331,102.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Third Lake, IL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Third Lake, IL, is $361,792.00, with the most expensive house in Third Lake, IL, topping out at $1,123,642.00 and the cheapest home in Third Lake, IL, clocking in at $43,193.00. In other words, there’s something for every potential homebuyer or savvy investor in Third Lake, IL!


Rent Prices In Third Lake, IL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Third Lake, IL, is on a rollercoaster ride. The average rent price in Third Lake, IL, is $1,991.00. Indeed, when looking to rent in Third Lake, IL, you can expect to pay as little as $1,020.00 or as much as $3,340.00, with the average rent median estimated to be $1,930.00. The good news is that finding an affordable and desirable property to rent in Third Lake, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.


Top Reasons To Live In Third Lake, IL In 2024

Third Lake is located in Lake, Illinois, with an estimated municipal population of 1,146 residents. All of the best foreclosed homes for sale in Third Lake are located in the following zip code areas on Foreclosure.com: 60030 60046. The estimated population per square kilometer (.62 miles) in Third Lake is 754.


Cost Of Living In Third Lake, IL

So, about how much do homes cost in Third Lake? The most recent median value of resident-owned homes in Third Lake is 267,446. An estimated 96.8 percent of households in Third Lake own their homes, with an average family size of 2.86. The median household income in Third Lake is 116,563, with63.8 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Third Lake, the median commute time of resident workers (in minutes) is 32.9. And last, but certainly not least, are you looking for homes to rent in Third Lake? If so, the average rent price paid by renters in Third Lake is 1,469, according to recent statistics.


Diversity And Demographics In Third Lake, Illinois

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Third Lake, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Third Lake is 51.3, split between 51 percent male versus 49 female. The percentage of residents who report being married in Third Lake is 64, with an average family size of 2.86.

The percentage of residents who report their race in Third Lake is as follows:

White 97.7%
Black / African American 0%
Asian 0.6%
American Indian / Alaskan Native 0%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 1%
Other 0.7%

Looking for family-friendly neighborhoods in and/or near Third Lake? Or maybe you are searching for 55+ active adult communities in and/or near Third Lake?

The percentage of residents who report their age in Third Lake is as follows:

Under 10 6.8%
Aged 10-19 10.5%
20s 11.5%
30s 7.6%
40s 11.3%
50s 22.8%
60s 17.2%
70s 9.2%
80+ 3.1%

Best Schools In Third Lake, Illinois

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Third Lake with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Third Lake.


Pros And Cons Of Living In Third Lake, Illinois

How do you know that living in -- or moving to -- Third Lake is right where you need to be? Perhaps you grew up in Third Lake or already live nearby; therefore, the decision to buy a home in Third Lake is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Third Lake for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Third Lake:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Third Lake.


Reasons To Move To Third Lake, Illinois, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Third Lake can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Third Lake, meanwhile, can field multiple offers from more qualified buyers.

Third Lake, IL Foreclosures


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