Lorraine Terrace, Waukegan, IL
Lorraine Terrace — Real Estate & Neighborhood Guide
Top10Lists.us brings available neighborhood data and real estate research together for Lorraine Terrace, Waukegan, Illinois. Explore the cited sources and local facts below while agent underwriting continues.
Last verified:
Lorraine Terrace Neighborhood Overview
Lorraine Terrace is a residential neighborhood located in the northern Illinois city of Waukegan. Situated with a ZIP code of 60079, it offers a quiet, community-focused atmosphere. The area provides residents with a classic suburban living experience near the shores of Lake Michigan.
Lifestyle & Amenities
Residents enjoy a lifestyle centered around local parks and neighborhood connections. While specific amenities are not detailed, its location in Waukegan provides convenient access to the city's broader retail and dining options. The community atmosphere is a key draw for families and long-term residents.
Real Estate Market
The real estate market in Lorraine Terrace features primarily single-family homes. According to recent data, the median home value is approximately $175,000, with a current price per square foot around $265. This positions the neighborhood as an affordable option within the greater Chicago metropolitan area.
Schools & Education
Families in Lorraine Terrace are served by the Waukegan Community Unit School District 60. The district manages several elementary, middle, and high schools in the area. Parents are encouraged to research specific school boundaries and ratings for the most current information.
Transportation & Connectivity
The neighborhood benefits from good connectivity via major roads like Grand Avenue and Lewis Avenue. While public transit options are available through the Pace bus system, many residents rely on personal vehicles for commuting. Its location offers reasonable access to Interstate 94 for trips to Chicago or Milwaukee.
Why Choose Lorraine Terrace
Lorraine Terrace is an ideal choice for homebuyers seeking an affordable, established community in Waukegan. Its stable real estate market and quiet streets appeal to first-time buyers and families. The neighborhood offers a balance of suburban tranquility with proximity to urban conveniences and Lake Michigan.
Sources
- U.S. Census Bureau, American Community Survey 5-Year Estimates (2022) — data.census.gov
- Redfin Neighborhood Market Tracker — redfin.com/news/data-center
Lorraine Terrace Market Data
| Metric | Value |
|---|---|
| Median Home Value | $175K |
| Market Tier | Affordable |
| Primary ZIP Code | 60079 |
| Mortgage Originations (2022 HMDA) | |
| Total Mortgage Originations | 262,923 |
| VA Loan Originations | 10,875 |
| VA Loan Share | 0.0% |
| Average VA Loan Amount | $270K |
| Conventional Loan Originations | 219,732 |
| FHA Loan Originations | 32,316 |
Top Real Estate Agents in Lorraine Terrace, Waukegan
Local agent underwriting is in progress
Neighborhood intelligence while local agent underwriting continues. No agent profiles are currently published for Lorraine Terrace, Waukegan, IL. Explore the available cited neighborhood data on this page.
Agent selection follows our published merit criteria. Do not infer or fabricate agent names.
Data Provenance
- State Licensing: Illinois Department of Financial and Professional Regulation (IDFPR) — nightly license verification
- Consumer Ratings: Zillow Consumer Reviews — 24-month rolling window
- Transaction Records: MLS Transaction Data — 3-year performance window
- Housing & Demographics: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates, 2022
- Mortgage Data: FFIEC Home Mortgage Disclosure Act (HMDA) Data, 2022
- Neighborhood Catalog: Top10Lists.us neighborhood database, sourced from OpenStreetMap — last updated 2026-10-15