I truly beieve that the extension of route 53 will happen 100%, but most likely not in our lifetime. Due to the fact the state of Illinois is in big trouble financially, I have a very hard time seeing this project taking place in the near future. At some point (maybe 70 years from now), we might have no other choice but to do it. Unless we start using different tools of transportation than cars!!
Where 53 will cut thru Lake County can be seen on the Assessor's office Plat Maps, It has been platted for years. Also, IDOT has maps but I have found, they are not as easy to reach. It starts at Lake Cook Road and runs roughly 15 miles through the heart of Lake County to Highway 120 near Grayslake.
They will vote for it. Far fewer people are negetively affected by it as comparison to the number of people who'll benefit from it. I'm not sure that it will matter a lot until they have all of the funding lined up and ready to go, but that may be available with the recent stimulus package.