If you're from old money or are looking for a neighborhood of immense affluence, Lake Forest real estate is likely a great fit for you. Lake Forest will often come up on lists of best places, best schools, best of everything, but there's a reason for that - this is a very wealthy area. If your income isn't exceptionally high, it's likely not an area that will fit your lifestyle or needs. However, if you can comfortable live in a suburb which has been home to some of the wealthiest residents of not only Illinois, but the country, or if you're just curious about what the area has to offer in case you ever hit the Lotto, read on.
People in the area use the name Lake Forest interchangeably with elite. Of course they have the best, they're Lake Forest. The median income in Lake Forest is $142,223. That might not sound excessive until you consider the fact that a large portion of their population earns considerably more than that and the median income for the state as a whole is $56,210. The median housing price in Lake Forest in 2013 was $773,407, compared to the state median value of $169,600. Looking at the current rate of homes in Lake Forest, you can find mansions, and they are mansions, in the range of millions of dollars. Even the smaller estates in this area are large and opulent by more middle class standards.
Lake Forest residents are highly educated overall. A much higher percentage of their population attains advanced degrees and many attend Ivy League Institutions. Of the population in Lake Forest, 76.1% holds a Bachelor's Degree, while 37.6% hold a Graduate or Professional Degree. This accounts for some of the difference in expected income, though there is a large percent of this population which came from wealth originally.
Much like the Gold Coast, Lake Forest was really established by the elite of the time. First developed in the 1850's, it was a favored retreat of the wealthy. Located right on the coast of Lake Michigan, far north of the city by modes of travel at the time, the area was laid out in a purposeful fashion to make it more secluded from regular people - basically it was a gated community without the gates. While this might seem snobbish and exclusive by today's standards, many wealthy communities were laid out this way in a purpose driven wayto make a safe enclave for those with means.
Houses built here were elaborate at the time and continue to be some of the most opulently constructed homes in the country. There are homes in Lake Forest which were designed by such notable architects as Frank Lloyd Wright and David Adler, to name a few. Market Square was designed in Lake Forest by world famous Howard Van Doren Shaw in 1916. Shaw paid special attention to the advent of the automobile, which wasn't in wide use yet but he had the forethought to realize that one day it would be, so the area was designed with automobile access in mind. Today Market Square is listed as the first planned shopping center by the National Register of Historical Sites.
Outside of the importance of great architectural designs and phenomenal landscaping, another important facet of this suburb was the addition of country clubs. These high society epicenters were the height of political, social, and business networking and they continue in that fashion until this day. One exceptionally notable country club in Lake Forest is the Onwentsia Club which originally opened in the 1890's as a small 7 hole golf course. Today it features a pool, racquets, clubhouse, and golf course. It is a private country club and guests are only allowed to use the facilities if they're accompanied by members.
One absolute benefit in an area full of greatness, is the deference to nature in Lake Forest. The area was originally developed because it was so outstandingly beautiful. Lake Michigan offers its own attractions such as boating and the wonderful scenery. But the area also contains untouched prairies and nature preserves. Lake Forest has been named Tree City USA for its commitment to the forestby the National Arbor Day Foundation. In 1967, a group of residents formed the Lake Forest Open Lands Association. The reason for this organization was to buy up the open spaces in and near the city, as they were rapidly disappearing with more and more new construction. The associationeventually bought over 700 acres in the city limits and converted them to forest preserves which are open to the public. These areas are used forhiking trails, to serve as a natural habitat for wildlife, and for the city to use to educate children and residents on nature.
As a funny side note, Lake Forest's affinity for all things trees does not go unnoticed. The actor, Mr. T., bought an estate in Lake Forest in 1986 and was less than pleased with the way Lake Forest viewed his esthetic choices. He put up a white stockade fence which Lake Forest ordered him to sandblast and wanted to put a large T on his front gate, which was also rejected by the town. One can only assume this was an act of vengeance (though Mr. T wouldn't comment on his motives), but he hired staff and took a chainsaw to what people estimate were 100 trees on his property. The count varies depending on the source, but the story is written into the history books as the Lake Forest Chainsaw Massacre. After the incident, Lake Forest wrote a tree preservation ordinance, preventing owners and developers from removing trees.
