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Hey {{first_name}},
If you've driven past the open farmland out toward Grayslake lately, you've probably noticed something new taking shape. Lake County is in the middle of a real fight over data centers — the large-scale AI infrastructure projects reshaping small towns across the country — and it's landed here.
On June 9, the Lake County Board approved an eight-month moratorium on new data center applications in unincorporated areas, plus a 120-day administrative deferral, while officials study the power and water impacts. The trigger was a proposed Grayslake campus that could become one of the largest developments in county history — developers have floated anywhere from 20 two-story 60-megawatt buildings to several 100–200 megawatt "AI factory" buildings, complete with its own ComEd-built substation.
The case for it is straightforward: data centers generate serious property tax revenue without adding a single kid to the school district, and Grayslake's mayor has said residents won't notice any difference in their own water or power. That's a real upside, and it's part of why Illinois currently offers a 20-year sales tax exemption for qualifying data center equipment.
The pushback is just as real, and it's worth knowing regardless of which way you lean:
What's actually being debated:
Your electric bill. The Citizens Utility Board reported ComEd's supply price is running about 47% higher than last year, and rising data center demand is one of the drivers cited, alongside grid auction issues at PJM Interconnection.
Water, indirectly. Even facilities that skip municipal water still push water use upstream to the power plants generating their electricity — a cost that isn't well tracked yet, according to the Alliance for the Great Lakes.
What it does to the land next door. Open farmland turning into industrial-scale campuses next to residential subdivisions raises real questions about noise, aesthetics, and how nearby buyers perceive the neighborhood.
Uncertainty. Objectors in Grayslake have already signaled plans to challenge approvals in court. If you're buying, selling, or live near a proposed site, this isn't settled yet.
I'm not going to tell you which way to lean on this one. But if you own property near a proposed site, or you're thinking about buying in that direction, it's worth watching the zoning board hearings over the next few months. This is the kind of thing that shows up in disclosures and dinner-table conversations for years. If you want to talk through what it means for your specific street, just hit reply.
The Market Update
What the numbers actually say right now:
Median sale prices have climbed steadily for three straight years — from the low $320Ks in 2023 into the $400K–$420K range today (MRED)
Homes for sale have held in a roughly 1,000–1,250 listing range over that same stretch — inventory has loosened, but never gotten truly abundant
Months of supply has stayed between 1.3 and 1.8 for three years running — for context, 6 months is considered a balanced market
Three years of the same story, just slightly softer
Still a seller's market, just not as tight as it was
The Lake County data confirms what the quiet streets are hinting at this week: things have eased up a little, but not nearly enough to call this anything other than a seller's market. A 1.3–1.8 month supply band, held for three consecutive years, means sellers have kept real leverage the entire time — even at the loose end of that range.
The two-tier market keeps widening
Lake Forest and Highland Park are setting price records this year, fueled by equity gains and a steady trickle of Chicago relocations. Meanwhile starter and move-up inventory in communities like Mundelein, Gurnee, and Vernon Hills stays tight enough that well-priced homes keep moving fast. Two very different markets, same county line.
What this means locally
If you're a seller, the data says you still hold the leverage — pricing and preparation matter, but so does knowing you're negotiating from a position of strength. If you're a buyer, the slight loosening means a little more selection than a year ago, but "more selection" and "easy" are not the same thing.
If you want to know what any of this means for your specific street or your specific house, that's exactly the kind of conversation I'm happy to have — just hit reply.
Source: MRED InfoSparks, Lake County single-family, 12-month rolling data as of July 2026.
And if you're a buyer wondering how to time a purchase in a market that's held this tight for years — that's exactly what the Home Buyer Protection Plan is for. If it doesn't work out, we make it right. Just hit reply for details.
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The Big Picture
Every town wants the tax revenue and none of them want the substation in view from the back porch. That's not a knock on Lake County — it's just what it looks like when a place is desirable enough for a hyperscaler to notice.
Thank you for being here — I don't take it lightly that you let this newsletter into your inbox every week. If this issue was helpful, pass it along to someone who might be thinking about making a move. The forward button is one of the kindest things you can do for someone who doesn't know where to start.
And if you're not already following along on Instagram, come find me — I share market updates, local content, and the occasional thing that didn't make it into the newsletter. @michaelsteber_realtor
Until next week…
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