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Knollwood is an unincorporated community and census-designated place (CDP) in Lake County, Illinois, United States. Per the 2020 census, the population was 2,221. It is located within Shields Township and Libertyville Township. Knollwood shares a ZIP Code with the neighboring village of Lake Bluff, and children attend Lake Bluff schools. The residents of Knollwood were served by the Knollwood Fire Department until October 2018, after the trustees of the Rockland Fire Protection District ended their relationship with the department. Residents now receive fire protection from the Libertyville and Lake Forest fire departments.