Lake Villa Homes under $500,000

Welcome to Lake Villa, Illinois—a charming gem nestled in the heart of Lake County. Known for its picturesque landscapes and friendly community vibe, Lake Villa offers a delightful blend of small-town charm and modern conveniences. With its serene lakes, lush parks, and abundant recreational activities, it's no surprise that this vibrant town is a sought-after destination for families and individuals alike.

One of the most appealing aspects of Lake Villa is its diverse real estate market, particularly for those seeking homes under $500,000. Here, you can find a variety of housing options that cater to different lifestyles and preferences. From cozy single-family homes with spacious backyards to contemporary townhouses in friendly neighborhoods, Lake Villa has something for everyone. The affordability of homes in this area makes it an attractive choice for first-time buyers, growing families, and investors looking for a solid opportunity.

In addition to beautiful homes, Lake Villa boasts excellent schools, parks, and recreational facilities that enhance the quality of life for its residents. The community is known for its strong sense of belonging, with numerous local events and activities that foster connections among neighbors. Whether you enjoy outdoor adventures, cultural experiences, or simply relaxing by the water, Lake Villa has it all.

Come explore the charm of Lake Villa, where your dream home awaits at a price that won’t break the bank. Embrace the opportunity to become part of this welcoming community and enjoy all that this lovely town has to offer!

Newest Lake Villa Homes under $500,000

$285,000

3 Beds ⋅ 2 Baths ⋅ 12774915 MLS ⋅ NEW Status

First time on the market, a 3-bedroom, 1.5-bath ranch home situated on approximately 1.19 acres (2 LOTS) and offering the opportunity to create a property tailored to your vision. This estate sale is being offered AS IS. The home features central air conditioning, forced-air heat, and a 2-car garage. The property includes two lots, providing additional land and flexibility for future plans, subject to applicable zoning and local requirements. A unique feature of this property is its water rights to West Miltmore. Buyers are encouraged to conduct their own due diligence regarding the water rights, lot configuration, zoning, permitted uses, and any potential improvements or development opportunities. With a generous lot, two parcels, a ranch-style home, and plenty of potential, this property offers an opportunity to bring your ideas and make it your own.

36474 N James Court, Lake Villa

$499,900

4 Beds ⋅ 3 Baths ⋅ 12772388 MLS ⋅ NEW Status

A peaceful Lake Villa setting gives this home an inviting feel with a refreshed interior and plenty of comfortable living space. Recent improvements include fresh interior painting, updated flooring, a new kitchen countertop, freshly painted kitchen cabinets and landscaping improvements. The layout offers bright, flexible living areas with room to relax, entertain, work from home, or create a hobby space, while the bedrooms provide comfortable private retreats. Outside, the improved landscaping adds to the home's curb appeal and gives the property a more polished feel. Conveniently located near parks, schools, shopping, dining, recreation, and major roadways with easy access throughout Lake Villa and the surrounding communities.

406 Hubbard Lane, Lake Villa

$335,000

2 Beds ⋅ 3 Baths ⋅ 12774221 MLS ⋅ NEW Status

This is THE One! You will fall in love with this luxury end unit townhome boasting many recent updates! Sunny and spacious floorplan offers 2 bedrooms, 2.1 baths and finished basement with second fireplace. The entry offers stunning NEW wood laminate floors that flow into the living room with fireplace and accent the stairs and railings leading to the second floor. Upper level offers master suite with volume ceiling, walk-in closet and private bath, 2nd bedroom and sunny loft. Gorgeous kitchen features white cabinets, solid surface counters and stainless appliances. Eating area has slider leading out to the patio, perfect for BBQs. First floor laundry. Security system. Finished basement offers large space for family room, den and plenty of storage. This is a "must see" in popular Cedar Crossing. Easy commute to Milwaukee or Chicago. Lovely and waiting for you!

314 Berkshire Drive, Lake Villa

$199,000

2 Beds ⋅ 1 Baths ⋅ 12771972 MLS ⋅ NEW Status

Welcome to 38805 N Belmora Park, a charming 2-bedroom, 1-bathroom home perfectly situated on a generous .27-acre corner lot in Lake Villa. Offering 943 square feet of comfortable living space, this home blends cozy character with major recent improvements, providing true peace of mind for its next owner. Step inside to a bright and spacious living room anchored by a beautiful wood-burning fireplace, creating the perfect atmosphere for relaxing on chilly evenings. The layout flows smoothly into the inviting kitchen, which features a dedicated table space for everyday dining and a brand-new 2026 refrigerator. Indoor-outdoor living is a breeze here! Sliding glass doors in the kitchen provide a seamless transition outside, opening directly onto an expansive deck overlooking your large corner yard and offering peek-a-boo views of the lake. It is the absolute ideal setup for summer barbecues, entertaining guests, or simply enjoying a peaceful morning coffee. For your convenience, the home also includes a basement with washer and dryer hookups. Buyers will love the expensive, big-ticket updates already completed, making this home feel fresh and well-maintained. The home is flooded with natural light thanks to many new windows installed in 2025. The exterior is just as solid, with a brand-new roof installed in 2025, professional chimney rebricking and tuckpointing completed in 2026, and the garage re-sided in 2025. With its smart updates, cozy fireplace, fantastic yard space, and association lakefront park with a beach, this Lake Villa gem offers incredible value. Whether you are buying your first home or looking to downsize, this move-in-ready property is an absolute must-see. Schedule your private showing today!

38805 N Belmora Park, Lake Villa

$164,950

3 Beds ⋅ 1 Baths ⋅ 12769782 MLS ⋅ NEW Status

Charming 3-bedroom, 1-bathroom home in Lake Villa with views of Crooked Lake from the backyard. A large rear deck offers the perfect spot to relax and take in the scenery, whether it's morning coffee or evening sunsets. A great opportunity for full-time living or a weekend lake retreat. Sold As-Is, Where-is. Note: To help visualize this home's floorplan and to highlight its potential, virtual furnishings may have been added to photos found in this listing.

21557 W Birch Street, Lake Villa

$425,000

3 Beds ⋅ 3 Baths ⋅ 12766982 MLS ⋅ ACTIVE Status

Nearly an acre in Crestwood Estates, located in unincorporated Lake Villa! This beautifully maintained 3-bedroom, 2.1-bath home offers a peaceful, private setting surrounded by mature landscaping and established perennials, while still being conveniently located within walking distance of Lake Villa Township Park with sports fields, pickleball, sledding hill, and outdoor events. Warm and inviting, the interior is filled with character and thoughtful details, including beautiful hardwood flooring, rich wood cabinetry, wainscoting, chair rail molding, paneled accents, and classic architectural touches throughout. The comfortable layout offers generously sized rooms with an abundance of natural light and a timeless feel that makes the home both welcoming and easy to enjoy. Pride of ownership shows throughout, with thoughtful improvements including a new A/C unit, whole-house generator, Pella windows, reverse osmosis system to the kitchen, and a water softener and conditioning system throughout. The spacious primary suite offers a relaxing retreat with a Jacuzzi tub, perfect for unwinding at the end of the day. Enjoy the expansive outdoor living spaces, including a deck, brick patio, pergola, and hot tub, all surrounded by beautifully established landscaping. The nearly one-acre property provides plenty of room to relax, entertain, and enjoy the peaceful setting. A 2-car attached garage and separate shed provide plenty of storage. The open unfinished basement offers additional space for storage, hobbies, recreation, or future finishing possibilities. Enjoy the space and serenity of nearly an acre along with the comfort, character, privacy, and convenience of a home that has been exceptionally well cared for. A wonderful opportunity to enjoy beautiful indoor and outdoor spaces in a quiet setting with easy access to nearby recreation.

24225 W Saxony Drive, Lake Villa

$409,900

3 Beds ⋅ 3 Baths ⋅ 12764513 MLS ⋅ PRICE CHANGE Status

Aggressive seller and quick-close opportunity. Situated on a quarter-acre corner lot in Painted Lakes, this move-in-ready home features a bright, open floor plan, stainless steel appliances, and a fully finished basement ideal for a rec room, home office, or gym. Enjoy a private, fenced backyard with a brick patio, pool deck, and heated above-ground pool. Major updates include a furnace and A/C (2016); roof, siding, and gutters (2018); finished basement and primary bath renovation (2020); refinished hardwood floors and luxury vinyl plank flooring throughout the main level (2021); Pella windows, sliding glass door, cedar fence, and LVP flooring in the walk-in attic (2021); garage floor and porch coatings (2022); new carpet throughout the second level (2024); a widened 3-car driveway (2025); and professional landscaping (2026). Schedule your showing today!

1016 Rainy Lake Court, Lake Villa

$270,000

3 Beds ⋅ 1 Baths ⋅ 12759751 MLS ⋅ ACTIVE Status

Welcome to this spacious 3-bedroom, 1-bath ranch home! This move-in-ready home features brand-new hardwood flooring throughout the main living areas and new carpet in all three bedrooms. The updated kitchen offers beautiful quartz countertops and plenty of cabinet space. Freshly painted throughout, the home provides a bright and inviting atmosphere. Enjoy the charming front porch, perfect for relaxing or entertaining. Conveniently located in a great neighborhood, this home is an excellent opportunity for first-time buyers, downsizers, or investors. Don't miss your chance to make this wonderful home yours!

518 Rae Avenue, Lake Villa

$425,000

6 Beds ⋅ 3 Baths ⋅ 12757833 MLS ⋅ ACTIVE Status

Welcome Home to this beautiful and spacious oasis home located in unincorporated lake villa, super nice and grand living space at very low and affordable Taxes. total of 6 bedrooms 3 full baths, that provides the space, comfort and lifestyle you are looking for. This thoughtfully updated while keeping some of its original Touches. Upon Entering you will be greeted with vaulted foyer, on ground level there are 3 bedrooms one of which a guest suite, and full bathroom. Plenty of storage space in the utilities room. Second level features sun filled expanded living room with recess lighting. Adjacent to open concept family and dining area. Sunroom and kitchen over looking deck and fenced yard. good sized 3 bedrooms and 2 full bathroom in the same level. This house expand across approximately 2600+sqft of actual finished living space. Double furnaces and ac for your comfort year round. Heated 3 cars bays with garage space for more of your toys, an office or tool room for extra storage space. Extended driveway for added space surrounded by mature trees. Close forest preserve, with fox chain-o-lakes nearby for boating, fishing, and recreation. Make this house yours Today!

25283 W Timber Lane, Lake Villa

$480,000

3 Beds ⋅ 4 Baths ⋅ 12757457 MLS ⋅ PRICE CHANGE Status

Don't miss this Move In Ready home. Owner has completely redone the inside and outside of this 5 bedroom, 3.5 bath home. Set on a corner lot next to a Preserve and Park this nicely landscaped home offers Living room, separate dining room, Kitchen with breakfast area, large family room with vaulted ceiling and fireplace. Large Master bedroom with updated bathroom, along with updated 2nd floor bathroom, and 2 additional bedrooms on the 2nd level. New carpet throughout the 2nd level. There are 2 additional bedrooms in the lower level with updated full bath. Area for exercise equipment as well as Laundry in lower level. Paver patio in fenced backyard for privacy. Shed for storage of lawn equipment and tools.

113 Oakton Lane, Lake Villa

$349,900

3 Beds ⋅ 2 Baths ⋅ 12739002 MLS ⋅ ACTIVE Status

Welcome to this 3 bedroom/2 bath 1600 Sq ft hillside ranch in Petite Lake Highwoods subdivision that backs to Antioch golf course. Main level offers: open floor plan, new LR carpet, updated kitchen appliances, breakfast area, separate dining room, 3-season screened porch, a primary bedroom w/bath & WIC. The full walkout basement has 9ft ceilings and 2 partially finished rooms... separate utility area with newer furnace & hot water tank too! Good size yard with slight slope and an attached 2 car garage. Home needs some updating but is solid. Roof is older. Chain O Lakes access thru neighborhood association. Located near parks, schools, shopping, main roads and the Metra Train. Dogs in home so appointment needed... 24 hr notice preferred.

24878 W Highwoods Drive, Lake Villa

$465,000

4 Beds ⋅ 4 Baths ⋅ 12736726 MLS ⋅ ACTIVE Status

1st Floor Bedroom and Full Bath! Let the forest preserve set the scene for your next chapter at 526 Middlebury in Lake Villa. Backing to protected natural surroundings, this immaculate, well-maintained home pairs scenic views with soaring ceilings and generously sized rooms across 2,755 square feet. Four bedrooms, three full bathrooms, and one half bathrooms offer space for everyday living, gathering, and relaxing. Outside, the third acre property features a large yard, an irrigation system, and a patio where morning coffee or an evening outdoors comes with a beautiful natural backdrop. Hot water loop system for upstairs bathroom. (That's right, instant hot water for your shower). Updates include a roof new in 2017, HVAC new in 2021, and a driveway new in 2021. A prime Lake Villa location and desirable school district further complement the home's appeal. Beyond your backyard, discover a community where outdoor recreation and small-town charm shape daily life. Nearby Cedar Lake, Deep Lake, and Sand Lake offer opportunities for boating, fishing, kayaking, and quiet time by the water, while proximity to the Chain O' Lakes opens the door to exploring Illinois' largest recreational waterway. Lake County Forest Preserves provide hundreds of acres of prairie and woodland landscapes, with trails for hiking, biking, and birdwatching, including connections throughout the region to the expansive Millennium Trail. Local parks, athletic fields, playgrounds, and open green spaces add even more ways to enjoy the outdoors. Historic downtown Lake Villa brings together locally owned restaurants, small businesses, and community gathering places, with seasonal celebrations and local events adding to the village's welcoming character. When work or travel calls, the Lake Villa Metra station's North Central Service provides commuter rail access toward Chicago and surrounding suburbs. Lake Villa also offers easy access to Naval Station Great Lakes, O'Hare International Airport, Milwaukee Mitchell International Airport, and downtown Chicago. Here, spacious living and a forest preserve backdrop meet the lakes, trails, and community connections that make Lake Villa a distinctive place to call home.

526 Middlebury Drive, Lake Villa

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