Victoria Park, Libertyville — True Cost of Ownership
Lake County | Libertyville | 52 homes | 55+ | Homes $295K–$440K | HOA ~$200/mo
Victoria Park's primary advantage over every other 55+ community in Lake County is its Libertyville address. Libertyville has a functioning downtown on Milwaukee Avenue — independent restaurants, a theater, a bookstore, coffee shops, and a farmers market — all walkable from a cohesive grid. Most of the suburban communities in this guide are surrounded by strip malls and parking lots. Victoria Park residents can drive two miles to eat dinner at an independent restaurant in a building that has been there for fifty years. That is genuinely rare in the Chicago 55+ market and it is worth accounting for in the comparison.
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Talk to a Specialist →Monthly Cost Breakdown
| Cost Item | Est. Monthly (Low) | Est. Monthly (High) | Notes |
|---|---|---|---|
| HOA fee | $190 | $215 | Common areas and amenities |
| Property tax | $615 | $917 | Lake ~2.5%; on $295K–$440K homes |
| Lawn care | $65 | $120 | Owner responsibility |
| Homeowners insurance | $123 | $183 | Full structure coverage |
| Utilities | $175 | $265 | Not in HOA |
| Total monthly (excl. mortgage) | ~$1,168 | ~$1,700 |
Lake County Tax by Home Value
| Purchase Price | Annual Tax Est. | Monthly |
|---|---|---|
| $295,000 | $7,375 | $615 |
| $345,000 | $8,625 | $719 |
| $395,000 | $9,875 | $823 |
| $440,000 | $11,000 | $917 |
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10-Year Projection — $355K Home
| Cost Item | 10-Year Estimate |
|---|---|
| HOA fees (3% annual increase from $200/mo) | ~$27,700 |
| Property tax (~$8,875/yr) | ~$92,300 |
| Lawn care (~$90/mo) | ~$10,800 |
| Insurance (~$150/mo) | ~$18,000 |
| Utilities (~$215/mo) | ~$25,800 |
| Total non-mortgage cost (10 yr) | ~$174,600 |
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