Leisure Village, Fox Lake — True Cost of Ownership
Lake County | Fox Lake | Established resale community | Units $100K–$200K | HOA ~$225/mo
Leisure Village is among the oldest established 55+ communities in the Chicago market — it predates most of the communities in this research guide by decades. That age creates a specific buying profile: resale-only, no new construction, units that reflect the design standards of when they were built. The purchase prices are among the lowest in the entire Lake County 55+ market at $100K–$200K, which partially offsets the county's ~2.5% effective property tax rate. On a $150K unit, the annual tax bill is roughly $3,750 — low in absolute terms even in a high-rate county.
The $225/mo HOA at an older attached community should cover more than the equivalent fee at a newer single-family community — building insurance, exterior maintenance including older roof systems, and common area upkeep. Verify line by line what the fee includes and what it excludes before making the purchase decision.
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Talk to a Specialist →Monthly Cost Breakdown
| Cost Item | Est. Monthly (Low) | Est. Monthly (High) | Notes |
|---|---|---|---|
| HOA fee | $215 | $240 | Building insurance and exterior maintenance likely included |
| Property tax | $208 | $417 | Lake County ~2.5%; on $100K–$200K units |
| Interior insurance (HO-6) | $30 | $55 | Interior/contents; building covered by master |
| Utilities (electric, gas) | $90 | $160 | Water may be in HOA; verify per unit |
| Total monthly (excl. mortgage) | ~$543 | ~$872 |
Lake County Tax by Unit Value
| Purchase Price | Annual Tax Est. | Monthly |
|---|---|---|
| $100,000 | $2,500 | $208 |
| $135,000 | $3,375 | $281 |
| $165,000 | $4,125 | $344 |
| $200,000 | $5,000 | $417 |
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10-Year Projection — $145K Unit
| Cost Item | 10-Year Estimate |
|---|---|
| HOA fees (3% annual increase from $225/mo) | ~$31,200 |
| Property tax (~$3,625/yr) | ~$37,600 |
| Interior insurance (~$42/mo) | ~$5,000 |
| Utilities (~$125/mo) | ~$15,000 |
| Total non-mortgage cost (10 yr) | ~$88,800 |
Questions on Leisure Village?
Connect with a Lake County buyer agent for current listings and — critically — the HOA reserve study at Leisure Village.
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