The Cook County Medical Examiner's Office identified the 17-year-old who died as Sameer Quadri, a Niles North High School senior.
In a statement to Niles North families, the school's principal wrote in part, "We ask that you join us in keeping Sameer's family in our thoughts and close to your hearts as they navigate this loss."
Evanston emergency officials said they rushed to Lighthouse Beach just before 9 p.m. after Quadri went underwater and never resurfaced.
Quadri was allegedly swimming with other young people at the time.
"As they were swimming, they noticed that one of their friends did not resurface. One initiated a 911 call," said Matt Smith, division chief of special operations for Evanston Fire Department.
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Within minutes, first responders say they used boats, a Coast Guard helicopter and a drone with infrared technology in the search for the missing teen.
Fire officials said he was found just before 9:30 p.m. near a break wall before being rushed to a nearby hospital, where he died.
The medical examiner's office said it was a drowning accident.
Niles North High School's principal made grief counselors and support available Thursday for students and staff following the death.
Students said Quadri played on the basketball team.
His funeral service will take place at noon Friday at the Muslim Community Center in Chicago.
Officials said, at the time of the incident, all Evanston beaches were closed under red flag conditions. There was a Beach Hazard Statement.
Great Lakes Surf Rescue Project says around this time of year, drownings ramp up. They warn what may appear like a calm shoreline could be dangerous.
"You know, people are trying to get their last summer beach day in before the fall comes. And, unfortunately, when we have winds, we'll have waves, and we'll have dangerous rip currents. And there's just a lot of factors that can easily overwhelm a person that's wading in the water," said Dave Benjamin, co-founder of Great Lakes Surf Rescue Project.
Great Lakes Surf Rescue Project says there have been 31 drownings in Lake Michigan this year.