Nestled along the picturesque shores of Lake Michigan, Lake Forest, Illinois, is celebrated for its tree-lined streets, remarkable architecture, and a rich history of opulence. Known as a haven for luxury living in the Midwest, this affluent suburban city boasts an array of prestigious neighborhoods, each offering stunning homes and an undeniable sense of grandeur.

If you’re curious about where the most expensive homes in Lake Forest can be found, this guide highlights the neighborhoods that truly stand out. From sprawling estates to architectural masterpieces, these areas showcase some of the finest residential properties in the region.

Why Lake Forest Stands Out for Luxury Living 

What makes Lake Forest such a desirable hotspot for high-end real estate? It’s not just the beauty of this waterfront city that lures buyers, but its combination of privacy, convenience, and amenities.

• Prime Location: Just 30 miles from downtown Chicago, Lake Forest offers easy access to city life while maintaining a serene suburban charm.
• Prestigious Schools: Families are drawn to the highly rated schools, including Lake Forest High School and several renowned private institutions.
• History & Architecture: The town is known for its historic homes designed by legendary architects such as David Adler, Howard Van Doren Shaw, and Frank Lloyd Wright.
• Natural Beauty: With ample green space, beaches, and the beautiful Lake Michigan shoreline, Lake Forest provides a retreat-like ambiance.

Now, let’s explore the neighborhoods that are home to the most exquisite (and expensive) properties around.

1. Lake Road Estates 

Known as one of the most iconic streets in Lake Forest, Lake Road is a goldmine for luxury buyers. This neighborhood hugs the lakefront, offering breathtaking views of Lake Michigan and unparalleled privacy.

What Makes It Unique 

• Private Waterfront Property: Many homes along Lake Road include lake access or unobstructed views, which significantly raise their value.
• Sprawling Mansions: These are not just houses; they are sprawling properties, often featuring tennis courts, swimming pools, and even private beaches.
• Architectural Heritage: Lake Road Estates is home to several historically significant properties crafted by world-renowned architects.

Home Prices 

Properties in this area often exceed $10 million, with some breaking the $20 million mark. These estates epitomize luxury and are built for buyers seeking exclusivity and elegance.

2. Conway Farms 

A golfer’s paradise, Conway Farms blends an exclusive residential experience with proximity to the Conway Farms Golf Club, which has hosted PGA Tour events.

What Makes It Unique 

• Private Golf Course Access: Residents enjoy the prestige of living near one of the top golf courses in the Midwest.
• Modern Luxury Homes: Unlike the historic ambiance of Lake Road Estates, Conway Farms offers newly built luxury homes with cutting-edge designs and high-end finishes.
• Community Feel: This neighborhood combines luxury living with a sense of community, making it ideal for families and retirees alike.

Home Prices 

Homes in Conway Farms typically range from $1.5 million to $5 million, making it less extravagant than lakefront properties but still among the priciest in Lake Forest.

3. Villa Turicum 

Set amidst rolling hills and forested landscapes, Villa Turicum is an exclusive neighborhood situated just north of downtown Lake Forest.

What Makes It Unique 

• Secluded Scenic Views: The lush greenery and meticulous landscaping create a calm, retreat-like environment.
• Expansive Estates: Properties here feature large lots with immaculately designed homes, offering both space and privacy.
• Historical Inspiration: The neighborhood pays homage to the original estate of Edith Rockefeller McCormick, one of Lake Forest’s most famous early 20th-century residents.

Home Prices 

Homes in Villa Turicum typically fall between $2 million and $8 million, depending on the property’s size, design, and location within the neighborhood.

4. Adler’s Glen Neighborhood 

Adler’s Glen is a residential neighborhood of single-family homes established in the early 2000s. Nestled in the heart of the village, this lovely community is situated on Gage Lane, just east of Waukegan Road.

What Makes It Unique 

• Scenic Beauty: Surrounded by lush greenery and serene landscapes, Adler’s Glen is perfect for nature lovers.
• Charming Homes: The area is known for its beautiful homes featuring classic architecture with modern amenities.
• Community Feel: Residents enjoy a strong sense of community, with local events and gatherings.

Home Prices 

The average home price ranges from $1 million to $5 million, depending on lot size and home features.

5. East Lake Forest 

For those who want to be right at the heart of Lake Forest, East Lake Forest offers a luxurious yet convenient lifestyle.

What Makes It Unique 

• Walking Distance to Downtown: Residents here are a stone’s throw from the unique shops, restaurants, and cultural landmarks of downtown Lake Forest.
• Preserved Historic Charm: East Lake Forest boasts some of the oldest homes in the city, many of which are restored to maintain their historic authenticity.
• Combination of Old and New: From historic mansions to newer high-end constructions, East Lake Forest offers something for every luxury buyer.

Home Prices 

Properties here range widely, from $1.5 million for smaller historic homes to $12 million or more for expansive estates.

6. The Preserve at Westleigh 

Tucked away in the western part of Lake Forest, The Preserve at Westleigh offers a blend of modern living within a picturesque natural setting.

What Makes It Unique 

• Eco-Friendly Design: This neighborhood features homes designed with sustainability in mind, utilizing eco-friendly materials and energy-efficient technology.
• Open Green Spaces: The community is built around expansive green belts and nature reserves, promoting an outdoor-centric lifestyle.
• Family-Oriented Community: Amenities such as community gardens, parks, and walking trails make The Preserve at Westleigh especially appealing to families who value outdoor activities.

Home Prices 

With prices ranging from $1 million to $4 million, The Preserve at Westleigh offers a more accessible luxury market when compared to some of the other exclusive neighborhoods in Lake Forest, while still ensuring high-end living in harmony with nature.

7. Arbor Ridge 

Nestled in the heart of Lake Forest, the Arbor Ridge neighborhood combines tranquil living with convenient access to the city’s amenities. This neighborhood, which was developed back in the early to mid-1990s, offers an idyllic setting, perfect for those seeking a peaceful respite without sacrificing connectivity.

What Makes It Unique 

• Serene Environment: Known for its quiet streets and lush landscapes, Arbor Ridge provides an escape from the hustle and bustle of city life.
• Beautifully Designed Homes: The neighborhood features a mix of traditional and modern architectural styles, appealing to a diverse range of buyers.
• Proximity to Schools and Parks: Families are drawn to Arbor Ridge for its nearby top-rated schools and numerous public parks, making it a family-friendly community.

Home Prices 

With home prices ranging from $800,000 to $3 million, Arbor Ridge offers a wide range of options for luxury buyers who appreciate both peace and accessibility.

8. Havenwood 

Located in the southeastern part of Lake Forest, Havenwood is a hidden gem that offers a harmonious blend of luxury and nature.

What Makes It Unique 

• Wooded Seclusion: Havenwood is surrounded by thick woodlands, providing residents with unparalleled privacy and a connection to nature.
• Charming Architecture: The neighborhood showcases a variety of architectural styles, from classic colonials to contemporary designs, ensuring that there is something to suit every taste.
• Close-Knit Community: With numerous community events and gatherings, Havenwood fosters a welcoming environment where neighbors form lasting relationships.

Home Prices 

Although many homes in Havenwood were built back in the ’80s, home prices typically range from $1.2 million to $3.5 million, offering high-end accommodations without the ultra-steep price tag of some of the most expensive homes in Lake Forest.