I have down this race several times. I believe in 2002,2007,2008,2009,2010.
It has three different races a 5k,10k, or you may sign up to run both back to back.
I like this race, it is a 30 dollar 5k in a world where most 5ks are up to 45/50 dollars. It is old school in the sense that the starting line isn't very built up, and it is a small race.
The course is great whether you choose to do the 5k, 10k or both you run around the historic water tower.
If you are local to the Western Springs/ La Grange area there is a decent group of runners that you will see at all the local races.
Its not a flashy race with a great shirt or swag or even after party. but it has a lot of soul and a great community.