Wholesaling Real Estate in Lake County, Illinois
Wholesaling gives you a way into Lake County real estate when you lack the cash to buy and renovate houses yourself.
Lake County foreclosures run through the Lake County Circuit Court, which gives you months to reach owners, and a contract signed well before the auction leaves your buyer time to close.
You locate a house priced below market, sign a purchase agreement with the owner, and pass that agreement to a cash investor who wants it.
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Lake County, Illinois housing market at a glance
Local market snapshot
Market data: Realtor.com Lake County housing market, October 2026. Zillow Home Value Index for Lake County: $399,526 (up 6% from a year earlier), August 2026. View homes on Zillow.
What draws wholesalers to Lake County?
A Lake County deal needs only a signed agreement and an earnest money deposit, not a loan approval. The investor who buys your contract hires the contractors and owns the rehab, and plenty of assignments are done in a matter of weeks.
From Antioch and Gurnee to Deerfield and Highwood, every part of Lake County has heirs sitting on houses, landlords ready to sell, and owners in pre-foreclosure.
With roughly 714,000 residents, Lake County sees probate cases, divorce filings and foreclosure suits every week. Wholesalers who monitor those records and contact owners ahead of the crowd get the strongest off-market contracts.
Steps in a Lake County wholesale deal
These six stages take a Lake County deal from first lead to paid fee:
- Find a distressed property
Reach out to Lake County owners with a pressing reason to move, such as heirs, worn-out landlords, and borrowers named in a foreclosure suit. - Run the numbers
Run sold comps from the same village to arrive at the after-repair value (ARV), the figure your offer depends on. - Sign a purchase contract
Negotiate a contract price that still leaves profit for the end buyer and room for your fee. - Find a cash buyer
Pitch the house to the flippers, landlords and cash investors already on your list. - Assign the contract
Sign over your purchase rights to the chosen investor through an assignment agreement that sets your fee. - Collect your fee
Collect your fee when the end buyer closes, paid from the funds that buyer brings in.
Motivated sellers who want to liquidate fast
For this reason, ForeclosuresDaily.com’s off-market real estate platform covers every major distress signal in Lake County, cross-referenced with tax rolls and property appraiser records.
Lead types to work
Running wholesale offer numbers in Lake County
Start every Lake County offer with the ARV, meaning the value of the house once the repairs are finished.
The 70% Rule limits an investor to 70% of ARV after subtracting repairs. Because your fee also comes out of that amount, your contract with the seller must come in lower.
Wholesale offer example
| Step | Amount |
|---|---|
| ARV | $469,000 |
| 70% of ARV − repairs ($38,000) | $290,300 |
| Your assignment fee | − $14,000 |
| Your contract price |
Lake County ZIP codes we track
Work these Lake County ZIP codes first, then branch out as your buyers tell you where they want houses. Tap a ZIP to see its numbers.
ZIP 60002 · Antioch · $424,900 · Wholesale
Market snapshot: Antioch (60002)
| Metric | Value |
|---|---|
| Median listing price | $424,900 ▲ 17.8% |
| Price per sq ft | $189 |
| Days on market | 39 days ▼ 8.6% |
| Median rent | $1,900 ▲ 20.6% |
| Active listings | 176 ▲ 16.1% |
| Gross rent yield | 5.4% |
Meanwhile, Antioch ZIP 60002 shows a Zillow Home Value Index of $358,845 for August 2026, up 6.5% year over year and below its $424,900 median listing.
For example, Antioch is a village in Lake County, Illinois. The village is nestled into the Chain O'Lakes waterway system and borders the state of Wisconsin. Part of the Chicago metropolitan area, Antioch is located approximately halfway between the major cities of Chicago and Milwaukee. Population: 14,622.
Investor note: Antioch runs its own village government, so request its code-violation, vacant-property and rental-registration lists. Houses on the Chain O'Lakes in 60002 can carry a water premium, so pick lake-matched comps and check flood maps. Start with probate, pre-foreclosure and absentee-owner leads here.
Max offer when the ARV equals the median price: $424,900 × 70% − $34,000 repairs = $263,430 max offer
Also see the full 60002 market report on Realtor.com →
Then view 60002 homes on Zillow →
ZIP 60015 · Deerfield · $802,500 · Negotiate
Market snapshot: Deerfield (60015)
| Metric | Value |
|---|---|
| Median listing price | $802,500 ▲ 14.4% |
| Price per sq ft | $314 |
| Days on market | 37 days ▲ 33.3% |
| Median rent | $2,831 ▲ 3% |
| Active listings | 78 ▼ 1.2% |
| Gross rent yield | 4.2% |
In addition, Deerfield's 60015 posts a Zillow Home Value Index of $734,728 as of August 2026, a rise of 8% from twelve months earlier.
Similarly, Deerfield is a village in Lake and Cook counties in the U.S. state of Illinois. A northern suburb of Chicago, Deerfield is located on the North Shore, about 28 miles north of downtown Chicago. Deerfield is home to the headquarters of Walgreens Boots Alliance, Baxter Healthcare, and Fortune Brands Home & Security. Population: 19,196 (2020 census).
Investor note: In particular, North Shore commuters keep owner-occupant demand high in 60015, which helps a wholesaler sell to a retail-minded buyer fast.
Max offer when the ARV equals the median price: $802,500 × 70% − $64,000 repairs = $497,750 max offer
Also see the full 60015 market report on Realtor.com →
Then view 60015 homes on Zillow →
ZIP 60031 · Gurnee · $427,000 · Negotiate
Market snapshot: Gurnee (60031)
| Metric | Value |
|---|---|
| Median listing price | $427,000 ▼ 5.1% |
| Price per sq ft | $197 |
| Days on market | 23 days ▼ 9.1% |
| Median rent | $2,270 ▲ 12.8% |
| Active listings | 109 ▼ 10.1% |
| Gross rent yield | 6.4% |
Similarly, Gurnee ZIP 60031 has a Zillow Home Value Index of $380,033 for August 2026, climbing 5.5% over the year.
Likewise, Gurnee is a village in Lake County, in the U.S. state of Illinois. Located in the Chicago metropolitan area, it borders the city of Waukegan. It is roughly 40 miles north of Chicago and 50 miles south of Milwaukee. The village was founded in 1928 and is named after former Chicago mayor Walter S. Population: 30,706.
Max offer when the ARV equals the median price: $427,000 × 70% − $34,000 repairs = $264,900 max offer
Also see the full 60031 market report on Realtor.com →
Then view 60031 homes on Zillow →
ZIP 60040 · Highwood · $679,000 · Flip
Market snapshot: Highwood (60040)
| Metric | Value |
|---|---|
| Median listing price | $679,000 ▲ 40.7% |
| Price per sq ft | $358 |
| Days on market | 32 days ▼ 37.3% |
| Median rent | $2,613 ▲ 13.4% |
| Active listings | 12 ▲ 75% |
| Gross rent yield | 4.6% |
Also, Highwood's 60040 shows a Zillow Home Value Index of $501,178 as of August 2026, up 11.2%, the biggest gain in this guide.
Highwood is a North Shore suburb of Chicago in Moraine Township, Lake County, Illinois, 28 miles north of downtown Chicago. Population: 5,074.
Max offer when the ARV equals the median price: $679,000 × 70% − $54,000 repairs = $421,300 max offer
Also see the full 60040 market report on Realtor.com →
Then view 60040 homes on Zillow →
ZIP 60045 · Lake Forest · $1,946,500 · Negotiate
Market snapshot: Lake Forest (60045)
| Metric | Value |
|---|---|
| Median listing price | $1,946,500 ▼ 4.2% |
| Price per sq ft | $418 |
| Days on market | 33 days ▼ 40% |
| Median rent | $5,396 ▲ 8% |
| Active listings | 93 ▼ 8.9% |
| Gross rent yield | 3.3% |
Moreover, Lake Forest ZIP 60045 carries a Zillow Home Value Index of $1,214,518 for August 2026, a 10.7% jump, still far below its $1,946,500 median listing.
Meanwhile, Lake Forest is a city in Lake County, Illinois, 31 miles north of downtown Chicago. The city is along the shore of Lake Michigan, and is part of the Chicago metropolitan area and the North Shore.
Lake Forest was founded with Lake Forest College and was laid out as a town in 1857, a stop for travelers making their way south to Chicago. Population: 19,367 (2020 census).
Investor note: Lake Forest College supports a steady rental base in 60045, so landlord buyers may take smaller houses near campus.
Max offer when the ARV equals the median price: $1,946,500 × 70% − $156,000 repairs = $1,206,550 max offer
Also see the full 60045 market report on Realtor.com →
Then view 60045 homes on Zillow →
ZIP 60048 · Libertyville · $721,500 · Flip
Market snapshot: Libertyville (60048)
| Metric | Value |
|---|---|
| Median listing price | $721,500 ▲ 8.9% |
| Price per sq ft | $282 |
| Days on market | 34 days ▲ 3% |
| Median rent | $2,525 ▼ 34.4% |
| Active listings | 113 ▲ 12.1% |
| Gross rent yield | 4.2% |
Meanwhile, Libertyville's 60048 posts a Zillow Home Value Index of $639,553 as of August 2026, up 7.9% from a year earlier.
In addition, Libertyville is a village in Libertyville Township, Lake County, Illinois. In fact, it is located 5 miles west of Lake Michigan, approximately 40 miles north of the Chicago Loop. It is bordered by Gages Lake and Gurnee to the north, Vernon Hills to the south, Mundelein to the west, and Grayslake to the northwest. Population: 20,579.
Max offer when the ARV equals the median price: $721,500 × 70% − $58,000 repairs = $447,050 max offer
Also see the full 60048 market report on Realtor.com →
Then view 60048 homes on Zillow →
ZIP 60061 · Vernon Hills · $532,500 · Negotiate
Market snapshot: Vernon Hills (60061)
| Metric | Value |
|---|---|
| Median listing price | $532,500 ▲ 1.7% |
| Price per sq ft | $251 |
| Days on market | 31 days ▲ 15.7% |
| Median rent | $2,830 ▼ 2.8% |
| Active listings | 79 ▲ 27.9% |
| Gross rent yield | 6.4% |
In addition, Vernon Hills ZIP 60061 shows a Zillow Home Value Index of $460,756 for August 2026, a 5.8% increase over twelve months.
Moreover, Vernon Hills is a suburb north of Chicago, Illinois in Lake County, Illinois. Vernon Hills serves as a retail hub for its surrounding area. Population: 27,000 (2020 census).
Max offer when the ARV equals the median price: $532,500 × 70% − $43,000 repairs = $329,750 max offer
Also see the full 60061 market report on Realtor.com →
Then view 60061 homes on Zillow →
ZIP 60073 · Round Lake · $292,450 · Buy & hold
Market snapshot: Round Lake (60073)
| Metric | Value |
|---|---|
| Median listing price | $292,450 ▼ 2% |
| Price per sq ft | $179 |
| Days on market | 27 days ▲ 10% |
| Median rent | $2,400 ▲ 9.1% |
| Active listings | 72 ▲ 7.7% |
| Gross rent yield | 9.8% |
Similarly, Round Lake's 60073 has a Zillow Home Value Index of $282,311 as of August 2026, rising 4.7% in a year.
Round Lake is a northern suburb of Chicago in Lake County, Illinois. Population: 18,721.
Max offer when the ARV equals the median price: $292,450 × 70% − $23,000 repairs = $181,715 max offer
Also see the full 60073 market report on Realtor.com →
Then view 60073 homes on Zillow →
ZIP 60085 · McGaw Park · $264,000 · Buy & hold
Market snapshot: McGaw Park (60085)
| Metric | Value |
|---|---|
| Median listing price | $264,000 ▲ 9.5% |
| Price per sq ft | $174 |
| Days on market | 29 days ▼ 15.3% |
| Median rent | $1,805 ▲ 3.7% |
| Active listings | 96 ▼ 1.8% |
| Gross rent yield | 8.2% |
Also, McGaw Park ZIP 60085, part of Waukegan, posts a Zillow Home Value Index of $240,038 for August 2026, up 7%, the lowest value on this page.
ZIP 60085 is part of Waukegan, IL.
Max offer when the ARV equals the median price: $264,000 × 70% − $21,000 repairs = $163,800 max offer
Also see the full 60085 market report on Realtor.com →
Then view 60085 homes on Zillow →
ZIP 60089 · Buffalo Grove · $469,000 · Wholesale
Market snapshot: Buffalo Grove (60089)
| Metric | Value |
|---|---|
| Median listing price | $469,000 ▲ 9.3% |
| Price per sq ft | $255 |
| Days on market | 25 days ▲ 2.1% |
| Median rent | $2,320 ▼ 12.4% |
| Active listings | 97 ▲ 10.4% |
| Gross rent yield | 5.9% |
Moreover, Buffalo Grove's 60089 carries a Zillow Home Value Index of $448,137 as of August 2026, a gain of 5.8% year over year.
For example, Buffalo Grove is a village in Lake and Cook Counties in the U.S. state of Illinois. A suburb of Chicago, it lies about 30 miles northwest of Downtown Chicago and 20 miles north of O'Hare International Airport. 6 square miles of land, with the northern three-quarters in Lake County and the southern quarter in Cook County.
Roads in the village, such as Lake Cook Road and Illinois Route 83, converge on I-294. Population: 43,212.
Investor note: In particular, Older Buffalo Grove houses in 60089 often need updating, and with the index at $448,137 against a $469,000 median listing, flip buyers will look for room.
Max offer when the ARV equals the median price: $469,000 × 70% − $38,000 repairs = $290,300 max offer
Also see the full 60089 market report on Realtor.com →
Then view 60089 homes on Zillow →
To get gross rent yield, divide 12 months of median rent by the median list price; each max offer budgets repairs at 8% of the median price.
Lining up cash buyers in Lake County
Gather buyers before you put any house under contract. The Lake County buyers worth chasing pay cash and close quickly: flippers, rental owners and small builders.
Assigning a real estate contract in Illinois
Illinois and every other state write their own wholesaling rules, and some require disclosures or a license for certain activities. Ask an Illinois real estate attorney to review your contracts before your first Lake County deal.
ForeclosuresDaily off-market opportunities before your competition
Lake County at a glance
Meanwhile, Illinois foreclosures go through the Circuit Court.
Homeowners can generally pay off the debt until the later of seven months after being served or three months after judgment, and the auction is advertised for at least three consecutive weeks. For Lake County wholesalers, the weeks before the sale are usually the best time to make an offer.
What changed recently: A law that took effect July 10, 2026 (Public Act 104-0553) rewrites Illinois tax sales. For homes whose unpaid taxes are sold from that date on, owners get 3 years to pay back the tax debt instead of 2½ (vacant land, buildings with 7 or more units and commercial property still get 1 year). If the debt isn’t paid, the property goes to a public auction, and the former owner can claim any amount bid above what was owed.
Sources: U.S. Census Bureau QuickFacts, Lake County, Illinois (2020 to 2024 American Community Survey; population estimate for July 1, 2025) and state foreclosure law summary.
In fact, since 2004, ForeclosuresDaily.com has helped investors, wholesalers, flippers, and agents reach motivated sellers first.
Why off-market deals work
Lake County wholesaling FAQ
How does a Lake County wholesale deal work?
Is wholesaling legal in Illinois?
How big is a typical Lake County wholesale fee?
What are the most affordable Lake County ZIP codes?
How do Lake County foreclosures get started?
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