New Apartments for Rent in Chicago, IL Under $5,500 (392 Rentals) Page 7 of 8

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Centrum Lakeview Phase II
Built in 2017Studio to 1 Bedroom Apartments

Centrum Lakeview Phase II

3418 N Lincoln AveChicago, IL 60657
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Montauk
Built in 2018Studio to 2 Bedroom Apartments

Montauk

1550 N Wieland StChicago, IL 60610
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The Oasis of Bucktown
Built in 20211 to 3 Bedroom Apartments

The Oasis of Bucktown

2400 W Wabansia AveChicago, IL 60647
Student Housing
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4102 N Sheridan Rd
Built in 2024Studio to 2 Bedroom Apartments

4102 N Sheridan Rd

4102 N Sheridan RdChicago, IL 60613
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Southport Lofts
Built in 2020Studio to 3 Bedroom Apartments

Southport Lofts

2061 N Southport AveChicago, IL 60614
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Jefferson Park Apartments
Built in 2022Studio to 3 Bedroom Apartments

Jefferson Park Apartments

5150 N Northwest HwyChicago, IL 60630
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Elm 551 at Parkside
Built in 2021Studio to 3 Bedroom Apartments

Elm 551 at Parkside

551 W Elm StChicago, IL 60610
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Winthrop 6000
Built in 20201 to 2 Bedroom Apartments

Winthrop 6000

6000-6008 N Winthrop AveChicago, IL 60660
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1323 W Morse Ave
Built in 2018Studio to 2 Bedroom Apartments

1323 W Morse Ave

1323 W Morse AveChicago, IL 60626
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The Schoolhouse
Built in 2024Studio to 2 Bedroom Apartments

The Schoolhouse

4641 N Ashland AveChicago, IL 60640
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Park Station Lofts
Built in 20231 to 3 Bedroom Apartments

Park Station Lofts

6300 S Maryland AveChicago, IL 60637
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McCormick CoLiving
Built in 20221 to 4 Bedroom Apartments

McCormick CoLiving

2401 S State StChicago, IL 60616
Corporate Housing
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The Westerner
Built in 2017Studio to 1 Bedroom Apartments

The Westerner

2407 W Eastwood AveChicago, IL 60625
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The Nelson
Built in 2018Studio to 2 Bedroom Apartments

The Nelson

710 W 14th StChicago, IL 60607
Student Housing
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The Elevation Lofts
Built in 2020Studio to 3 Bedroom Apartments

The Elevation Lofts

1531 W Howard StChicago, IL 60626
Senior Living
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Common Damen
Built in 2016Studio Apartments

Common Damen

2048 W Chicago AveChicago, IL 60622
Furnished
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4801 North Ravenswood
Built in 2017Studio to 2 Bedroom Apartments

4801 North Ravenswood

4801 N Ravenswood AveChicago, IL 60640
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7270 S South Shore Dr
Built in 2018Studio to 2 Bedroom Apartments

7270 S South Shore Dr

7270 S South Shore DrChicago, IL 60649
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Cicero Senior Lofts
Built in 2020Studio to 2 Bedroom Apartments

Cicero Senior Lofts

4835 S Cicero AveChicago, IL 60632
Senior Living
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Canvas at Leland Plaza
Built in 2025Studio to 2 Bedroom Apartments

Canvas at Leland Plaza

4713 N Western AveChicago, IL 60625
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The Henry at Harms Woods
Rent Specials
$2,735 - $7,521
Total Monthly Price

Total Monthly Price

Base Rent
$2,735 - $7,521
Total Monthly Price
Varies
Built in 2025Studio to 4 Bedroom Apartments Available Now

The Henry at Harms Woods

5424 Old Orchard RdSkokie, IL 60077
Family Friendly
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1555 Oak Ave
Rent Specials
$2,500
Total Monthly Price

Total Monthly Price

Base Rent
$2,500
Total Monthly Price
$2,500
Built in 20241 Bedroom Apartments Available Now

1555 Oak Ave

1555 Oak AveEvanston, IL 60201
Furnished
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Albion Evanston
Rent Specials
$2,436 - $3,058
Total Monthly Price

Total Monthly Price

Base Rent
$2,436 - $3,058
Total Monthly Price
Varies
Built in 2019Studio to 2 Bedroom Apartments Available Jul 6

Albion Evanston

1500 Sherman AveEvanston, IL 60201
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The Dawson
$2,346 - $3,620
Total Monthly Price

Total Monthly Price

Base Rent
$2,346 - $3,620
Total Monthly Price
$2,346 - $3,620
Built in 2024Studio to 2 Bedroom Apartments Available Now

The Dawson

235 E Prospect AveMount Prospect, IL 60056
Student Living
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The Marke
$2,309 - $5,163
Total Monthly Price

Total Monthly Price

Base Rent
$2,309 - $5,163
Total Monthly Price
Varies
Built in 20191 to 3 Bedroom Apartments Available Jul 18

The Marke

100 N Addison AveElmhurst, IL 60126
Corporate Housing
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Uptown La Grange
$2,274 - $6,638
Total Monthly Price

Total Monthly Price

Base Rent
$2,274 - $6,638
Total Monthly Price
Varies
Built in 2017Studio to 3 Bedroom Apartments Available Now

Uptown La Grange

31 E Ogden AveLa Grange, IL 60525
Corporate Housing
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Showing Results 301-350, Page 7 of 8

Chicago, IL Area Reviews

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Nicole • 4+ years in Chicago

April 10, 2026

Big city challenges with traffic but also provides the amenities of the city you can't find elsewhere

Frequently Asked Questions about New Chicago Apartments

What is the Cheapest New apartment in Chicago?

Currently the most affordable New Apartment in Chicago is at Stephen's Commons- Senior Living-Age 62+ listed at $595.

How much is the average rent for a New Chicago Apartment?

The average rent for a New Apartment in Chicago is $4,153.

What is the largest New Chicago Apartment for rent?

Today's New apartment with the most square footage in Chicago is a 4,425 square feet unit starting from $2,258 at 369 Grand by Onni.

What is the average size for Chicago New Apartments for rent?

The average size for a New rental in Chicago is currently at 635 sq ft.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Helpful Local Expert Guides

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago article

A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago

Written by: Nicole Harms

I’m Nicole, your ApartmentHomeLiving.com Local Expert for Chicago, IL. As a resident of the Chicago area for over 20 years, I’ve learned which neighborhoods are great and which are best avoided.

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Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago

Written by: Nicole Harms

With world-class museums lining its streets, Chicago is a place people go to learn. It’s not surprising, therefore, that it’s also home to multiple colleges and universities with national and global reputations.

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Best Neighborhoods to Rent in Near Chicago's Top Employers

Written by: Nicole Harms

Whenever life takes me into the city, I’m always impressed with the sheer amount of industry and commerce that it holds. With all of that commerce comes a wide range of employment options.

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Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago

Written by: Nicole Harms

From Lake Shore Drive to the O’Hare Airport, the city of Chicago is a study in diversity, resilience, and culture.

Articles, How-To's, and Tips

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.