Lake Forest, Illinois is a beautiful city located in Lake County. Here are some potential advantages and disadvantages to consider when purchasing real estate there:

Advantages:
- Lake Forest is known for its beautiful wooded areas, nature preserves, and beautiful beaches, which can make it an ideal location if you enjoy outdoor activities.
- The city is home to a number of highly rated schools, which can be beneficial if you have children or plan on starting a family.
- Lake Forest's proximity to Chicago - it's roughly 30 miles from downtown Chicago - can make it an attractive option if you want to be near a major city but prefer a quieter, more suburban lifestyle.
- The city has a relatively low crime rate, which can provide peace of mind for residents.

Disadvantages:
- Lake Forest can be an expensive place to live, with a high cost of living compared to many other areas in the region. This can make it difficult to afford housing or other expenses, especially if you're on a tight budget.
- The city's location near Lake Michigan can lead to harsh weather during the winter months, including snow and ice storms. If you're not used to these conditions, they can make day-to-day life more difficult.
- While the proximity to Chicago can be a benefit for some, it can also mean that traffic and congestion is a problem during peak commuting hours, which can make getting around difficult.