The Episcopal church is the American offshoot of the Anglican church, which itself is a direct descendant of the Roman Catholic Church. As Lake Forest’s only Episcopalian church, the Church of the Holy Spirit boasts a membership of over 1500 and a large presence in the community.

In 1898, a group of Episcopalians gathered as a part of the mission of Trinity Church in Highland Park, and within two years, the present site of the church, which is located on Westminster just east of McKinley, was purchased. The cornerstone of the English-Gothic building was laid in 1902, and the full structure was completed that same year. A parish house, narthex, and new entrance were added in 1925, all of which contributed further to the English-Gothic feel of the church. Increased membership in the 1950's lead to the need for more seating room in the nave. It was remodeled in 1969, and north and south transepts were added, making the church laid out in the shape of a symbolic cruciform shape. A columbarium, a space for urns containing the cremated remains of the deceased, was added in 1979, and can accommodate up to 2200 urns. Since this construction, the church has gone through more renovations and expansions, and now has space for mission and outreach, rooms for youth groups and education, living space for visiting clergy, and a bookstore.

Since 1910, the Church of the Holy Spirit has held a Spring Fair, which has historically been open to the community. Originally called the Spring Bazaar, the event was held at the Winter Club, which was equipped to accommodate the large number of guests. In the 1920's and until the 1960's, the fair was held in Market Square, and grew to include games, carnival events, vendors, and plenty of food. The fair is now held on the grounds of the church, and organized by church volunteers.

Today, the church is heavily involved in community outreach, and in 2002, raised $780,000 to establish a mission church in Waukegan: Nuestra Señora de Guadalupe. The Church of the Holy Spirit has a well-stocked food pantry that distributes hundreds of bags of food on a yearly basis to the needy, and participates in a wide variety of service and mission trips. Since 1964, the church has employed a preschool for children aged two-and-a-half to five.