Riverwoods is a village in Lake County, Illinois, United States. It was established on the banks of the Des Plaines River in 1959 by local steel magnate Jay Peterson. The population was 3,660 at the 2010 census. The corporate headquarters of Discover Financial and CCH are located there, as well as Orphans of the Storm, an animal shelter founded in 1928 by famous dancer Irene Castle. The village hosts the annual "Arts & Riverwoods" festival.