though i don't know a lot about that area, most suburbs in Lake County are decent, and certain suburbs can be somewhat pricey(Highland Park and Deerfield, in case you aren't aware, are also known for being very pricey, though i'm guessing you're looking north of there anyway, thus making that a moot point). i'd probably at least stay away from North Chicago and Waukegan, if you're trying to find one with a decent school system. i think i've also heard mixed things about Round Lake's school system too, though i'm not positive about this(you probably should ask others on this board about it). if you're trying to find something affordable and get more house for your money in the vicinity of Abbott, i'd probably recommend Mundelein, which is next to Libertyville.
i'd definately recommend using this tool on Chicago Tribune's web site for getting an idea of current housing prices for anywhere in the Chicagoland area(and it confirmed what i suspected about Mundelein):
http://www.chicagotribune.com/classified/realestate/