Third lake is located in Lake county Illinois with a geographic area of 0.6 square miles. The total population in Third lake is 1,160 with 50.3% male and 49.7% female. Children under age 5 represent 2.8% of the population, under age 18 equal 16.7% of the population and over age 65 is 23.4% of the population. The median household income is $135,021, per capita income is $54,025. There are a total of 441 housing units with 97.1% owner occupied. Education includes 5.7% of residents that are high school graduates and 73.7% with a bachelor's degree or higher. The average temperature in Third lake in the summer is 74 degrees, and in the winter 27 degrees.