More than 140 families call Lake Lou Yaeger home on weekends or year-round, and many residents own watercraft and take advantage of the many outdoor recreational opportunities found on the water and around the lake. The lake has two public marinas, a public swim beach and a large conservation area known for its hiking trails and bald eagles. There are special community events held at the lake each year including a Fourth of July fireworks display.
Litchfield also holds a number of community events open to the public during the year, including a Picker's Market on select weekends and a summer outdoor concert series. Litchfield has a rich history thanks to its location on the original Route 66 and is home to the Litchfield Museum and Route 66 Welcome Center, as well as several historic restaurants from that period. It also is a regional retail, hospitality and dining center offering lake residents and their guests a wide variety of services.