Chicago’s skyline is iconic, but venture beyond the city limits, and you’ll find suburbs that rival it in grandeur. For luxury home buyers and real estate enthusiasts, these suburbs offer the pinnacle of opulence, with residences that combine architectural splendor and exclusive amenities. This blog post will guide you through the Chicago suburbs with the most expensive homes, unveiling why these neighborhoods are the crème de la crème for affluent buyers.
Lake Forest, IL
Lake Forest, IL is a town of nearly 20,000 people located on the North Shore of Chicago. Known for its beautiful lakefront, historic homes, and prestigious educational institutions, this community offers a blend of suburban tranquility and urban accessibility to anyone who can afford it. Data pegs home prices here among the most expensive in the state at a median of just over $1 million – more than three times the median home price for the state of Illinois. Of course, that premium buys into several benefits. Lake Forest is equally known for excellent schools as it is exorbitant real estate. Lake Forest College consistently ranks as one of the best liberal arts colleges in all of the Midwest. The rest of the community is quite beautiful, boasting a vibrant downtown area with unique shops and restaurants like The Gallery, The Lantern of Lake Forest, and Kuro Bistro. Residents can catch a show at the Gorton Center or delve into local history at the History Center of Lake Forest-Lake Bluff without driving more than a couple of miles.
Winnetka, IL
Established in 1869, Winnetka, IL sits 20 miles north of Downtown Chicago, just a few minutes west of Lake Michigan. The 2020 Census reported that nearly 12,500 call it home, and like Lake Forest, home here can get quite pricey.. In fact, the median home price here is $1.9 Million, putting the cost of living 86% above the national average, according to PayScale. As a lakefront suburb, the water is a prime reason why people choose to live in Winnetka; but its appeal extends far beyond its shores. Peaceful and quiet tree-lined streets wind through picturesque neighborhoods, showcasing a blend of architectural styles that span decades. The village’s downtown area, known as the Elm Street District, offers a quaint shopping experience with boutique stores, cozy cafes, and local businesses that maintain the town’s small-town charm.
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Wilmette, IL
Nestled along the picturesque shores of Lake Michigan, Wilmette is a charming suburban village that has long been a sought-after destination for families and professionals alike. It touts a rich cultural heritage and is most well-known for the iconic Bahá’í House of Worship – a one-of-a-kind temple people travel from across Illinois to see in person. The regular residential houses are highly sought-after, as well. Real estate currently sits at a median listing price of nearly one million dollars. These large properties are best described as estates, with manicured lawns, elegant architecture, and spacious interiors that exude luxury and comfort. Wilmette’s well-maintained parks and sidewalks contribute to the community’s overall charm, while close proximity to the Edens Expressway makes it a practical place to live for suburbanites and city commuters alike.
Hinsdale, IL
Hinsdale holds a top spot on many ranked lists of Illinois suburbs, including this one of the most expensive. Look no further than one number to understand why: $340,370. That isn’t the average home price but the average annual income of local residents. Property values soar much, much higher, to a median of $1.5 Million. Why on Earth would someone pay so much for a house in the suburbs, you might ask? Layout and location. The Village of Hinsdale is split between Cook and DuPage Counties, roughly 20 miles west of Downtown Chicago. Its shared borders with other prominent neighborhoods like Clarendon Hill, La Grange Highlands, Willowbrook, and Oakbrook afford residents direct access to a wide array of recreational opportunities. There are plenty of interesting things to see and do within the town as well. Local landmarks like Immanuel Hall, Clarendon Hills Historical Society Heritage Hall, and Hinsdale Prairie INAI serve as immersive history lessons that both adults and kids can learn from.
Glencoe, IL
Lastly, we have Glencoe. This lakefront village is a hidden gem on Chicago’s North Shore – at least on a map. Anyone familiar with the Illinois real estate market recognizes the name for its home prices. The population of just over 8,700 spends enough on homes to rank their community among the most expensive in the State. This exclusive enclave attracts high-profile residents, including CEOs, professional athletes, and notable figures in the arts and entertainment industry. There are few ‘starter properties’ here – most were built by their original owners and have thousands upon thousands of square feet of space. Individuality shines through in every estate’s unique architecture and design. Beyond the homes, Glencoe’s crown jewel is the Chicago Botanic Garden. This 385-acre living museum features 27 stunning gardens and four natural areas with over 2.5 million plants. If each one was a dollar, you might be able to afford a decent house in the area.
