Cheap Apartments for Rent in the South Lakefront Neighborhood of Chicago, IL from $500 (585 Rentals)

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Search the lowest-cost Apartments available for rent right now in the South Lakefront area of Chicago.

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Scholars Corner Apartments
$1,068 - $3,979
Total Monthly Price

Total Monthly Price

Base Rent
$1,018 - $3,929
Required Monthly Fees
$50
Total Monthly Price
$1,068 - $3,979
Studio to 2 Bedroom Apartments Available Now

Scholars Corner Apartments

5100 S Cornell AveChicago, IL 60615
Student Housing
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South Lakefront, Chicago, IL Local Guide

Cheapest Available South Lakefront Apartments for Rent

 

The cheapest available apartment rental in the South Lakefront area of Chicago, IL is a 4 Beds unit found at Coleman Place At Legends South priced from $170. 6246 S. King Dr. has the second lowest priced unit, which is a Studio apartment currently listed from $675. Here are the most affordable South Lakefront apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Coleman Place At Legends SouthThe Wells4BR,2BA$170
6246 S. King Dr.EfficienciesStudio,1BA$675
Maclean HouseCo-Living Single RoomStudio,1BA$684
Highlands Tudor Manor - 55+ CommunityStudioStudio,1BA$700
8000 S Ellis AveStudio ApartmentStudio,1BA$715
Broadview HallEfficiency Studio - NorthStudio,1BA$724
5748 BlackstoneNo Kitchenette with Shared BathroomStudio,1BA$726
7903 S Evans AveStudio ApartmentStudio,1BA$745
7953-7959 S Dobson AveStudio ApartmentStudio,1BA$770

Best Value Apartments for Rent in South Lakefront, IL

As of March 29, 2026 the best value apartment in the South Lakefront area is the $0.53 price per square foot 7845 S Kingston Ave Model at 7845 S Kingston Ave, Unit 3 in the in the South Shore neighborhood starting from $1,599. The second greatest value South Lakefront apartment is the 5942 S Calumet Ave Model at 5942 S Calumet Ave, Unit 2 starting at $1,850 with a $1.03 price per square foot in the Washington Park neighborhood. Here is today’s list of the best values for South Lakefront apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
7845 S Kingston Ave, Unit 37845 S Kingston Ave3BR,2BA$0.53
5942 S Calumet Ave, Unit 25942 S Calumet Ave4BR,1BA$1.03
6843 S Merrill Ave6843 S Merrill Ave3BR,2BA$1.03
Prairie Park ApartmentsThree Bedroom 60% AMI3BR,2BA$0.87
8855 S Dorchester Ave, Unit 2ndfloorr8855 S Dorchester Ave2BR,1BA$0.71
8213 S Houston Ave, Unit 2nd Floor8213 S Houston Ave3BR,1BA$1.00
3002 E 81st St, Unit 23002 E 81st St2BR,1BA$1.00
IronwoodTwo Bedroom 120%2BR,1BA$0.91
8642 S Maryland Ave1 Bed, 1 bath1BR,1BA$1.00
Coleman Place At Legends SouthThe Burnham1BR,1BA$0.22

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

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Best Neighborhoods to Rent in Near Chicago's Top Employers: A Guide for Renters

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A Local Expert's Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago

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Pet Friendly Lifestyle
South Lakefront, Chicago, IL

Ranked #33

Among cities in Illinois for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
South Lakefront, Chicago, IL

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of neighborhoods, areas, and rental properties across Illinois, including Chicago. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including rankings of the best places for convenient access to the outdoors, luxury amenities, pet-friendly features, family-friendly amenities, proximity to transit, walking, and biking. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap South Lakefront Apartments

What is a cheap apartment in South Lakefront?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in South Lakefront is under $770.

What is the price of a cheap apartment in South Lakefront?

The cheapest apartment in South Lakefront is Coleman Place At Legends South which is listed at $170, while the average apartment in South Lakefront costs $8,192.

What types of apartments are the cheapest in South Lakefront?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 207 regular apartments in South Lakefront that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in South Lakefront?

Cheap apartments in South Lakefront have an average cost of $335 which is $7,857 cheaper than the average rent for all rentals in South Lakefront.

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

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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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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

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Written by: Christine Leonard, Esq.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.