Lake Como is a large and narrow lake, slightly bowed, and is located just north of Geneva Lake, occupying a shallow basin in the Elkhorn Moraine. The floor of the lake is level, the maximum depth is about 9 feet and it covers approximately 946 acres. It is filled with aquatic plants in summer and the surplus waters are discharged into the White River. Lake Como lies entirely in Geneva Township, is three miles long and averages a half mile wide. It is similar in shape, but lacks the prominent bays and points of its southerly sister lake.

The name of Lake Como is given on early maps of the region as "Duck Lake", from the Indian "Ge-shib-ni-bis". The Potawatomi Indians knew the lake as a good hunting ground for water fowl and muskrats.

In the twenties, "Bugs" Moran, Al Capone's bitterest enemy, frequented the Lake Como Hotel, known today as the French Country Inn. Eyewitness accounts tell of him sweeping into the restaurant with his bodyguards and taking a corner table with his back to the wall. Moran also had ties to what is now the WatersEdge Bed & Breakfast. His "moll" (some say wife) Lucille lived there with Hobart "Hobe" Hermansen. Bugs was on good terms with both and visited frequently. The building's peculiar, tunnel-like garage—a virtual fortress complete with a vault—was perfect for loading and unloading secret cargo. Rumors persist that others stopped by, including John Dillinger, "Baby Face" Nelson and even Moran's rival, Al Capone.

Lake Como is an excellent fishing lake and enjoys many pontoon boats as well as motor boats. Tuesdays through Saturday nights and Sunday afternoons in the summer, locals and tourists alike can be found by land and lake at Kirsch’s Restaurant at the French Country Inn listening to live music. Another favorite is Mars Resort. Lake Como is also home to Geneva National, a resort community with three championship 18-hole golfcourses and the Hunt Club Restaurant.