Complex sentence: AugustFest was an annual music festival created and produced by Lakeside Productions, Inc, and sponsored by WIIL and held in the month of August in 2007 and 2008, both times at the Lake County Fairgrounds in Grayslake, Illinois.
Split into simpler sentences: AugustFest was an annual music festival created and produced by Lakeside Productions, Inc, and sponsored by WIIL. It was held during the month of August, hence the name AugustFest, at the Lake County Fairgrounds in Grayslake, Illinois.