A Chicago suburb is one of the most expensive areas surrounding Chicago, one of America’s 10 largest cities, according to a study by real-estate firm Engel & Volkers.

North suburban Glencoe has a median home price of $1.3 million and a median household income of $171,250, according to the report. The village takes third in the top 10 most expensive suburbs of American’s biggest cities.

“Visitors often describe Glencoe as a quaint community far removed from the hustle and bustle of the big city,” the village’s website says. “Glencoe is a quiet village of approximately 9,000 residents with abundant parks, superb schools, convenient beach facilities and one of the most attractive business districts along the North Shore.

The list rankings were created using the median home price based of U.S. Census data.

"These suburbs — from Bronxville to Los Altos Hills — provide a revealing snapshot of the nation's luxury real-estate marketplace outside of the cities that are normally at the top of the nation's wealthiest lists," Engel & Völkers CEO Anthony Hitt told CNBC.

Glencoe was followed by Bel Air outside Los Angeles, with a median home price of 3.45 million and a median household income of $207,938. Bronxville near New York City, took the number one spot as the most expensive suburb with a median home price of 8.55 million and a median household income of $193,333.