Maxon Community Developers of Barrington Illinois, founders and developers of nearby Streamwood, Barrington Woods, Brigadoon, Illinois and later Green Valley, Arizona purchased the Curtiss Candy Farms in 1952 from Otto Schnering, founder of the Curtiss Candy Company. The brothers Norm and Don Maxon promptly renamed it Trout Valley after Norman passion for Fly Fishing. The estate once the private estate of John Hertz of Hertz Car Rentals modeled during the gilded age after English estates complete with riding stables, polo grounds, trout fishing and pheasant hunting. Norman Maxon an avid outdoors man reestablished the trout hatchery and approached National Homes of Lafayette Indiana to develop Trout Valley as a national show case for their modular homes. By 1956 Trout Valley won the National Home development of the year and the concept of a home owners association was conceived by C.E.O. Don Maxon as a way to maintain the integrity of Trout Valley. Norman a registered Architect design the infra structure, home layout and micro communities of Trout Valley to maximized the nature beauty of the Fox River Valley.
Trout valley was once part of unincorporated McHenry County until it became its own village. The residents attend schools in the Cary School District, and the village itself does not have any of its own schools, fire department, or police department. The land was once a farm owned by the John D. Hertz and still contains residual structures from that period of time.
At the west side of the village, a magnificent arched set of iron gates with stone pillars mark the entrance at Cary-Algonquin Road. These were probably erected by Mr. Hertz in the 1920s. In 2006, this entrance was designated as a local landmark by the McHenry County Historic Preservation Commission. This protects and preserves the gates by an ordinance enacted by the McHenry County Board.
The first mayor of Trout Valley was Steve Barrett and the current mayor is Bob Baker.