Cheap Apartments for Rent in the South Lakefront Neighborhood of Chicago, IL from $500 (563 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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1415 E 52nd St
$700 - $2,880
Total Monthly Price

Total Monthly Price

Base Rent
$700 - $2,880
Total Monthly Price
$700 - $2,880
1 to 4 Bedroom Apartment Available Now

1415 E 52nd St

1415 E 52nd StChicago, IL 60615
Furnished
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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. 5445 Ingleside By 3L Living has the second lowest priced unit, which is a Studio apartment currently listed from $684. 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
5445 Ingleside By 3L LivingCo-Living Single RoomStudio,1BA$684
Highlands Tudor Manor - 55+ CommunityStudioStudio,1BA$700
6246 S. King Dr.EfficienciesStudio,1BA$710
5540 Hyde Park by 3L LivingEfficiency Studio - NorthStudio,1BA$724
5748 Blackstone By 3L LivingNo Kitchenette with Shared BathroomStudio,1BA$726
2235 E 71stStudio ApartmentStudio,1BA$780
7925 S PhillipsStudio ApartmentStudio,1BA$785
211 E 71stStudio ApartmentStudio,1BA$820

Best Value Apartments for Rent in South Lakefront, IL

As of June 30, 2026 the best value apartment in the South Lakefront area is the $1.09 price per square foot 5211 S Greenwood Ave Model at 5211 S Greenwood Ave in the in the Hyde Park neighborhood starting from $3,500. The second greatest value South Lakefront apartment is the Three Bedroom 60% AMI Model at Prairie Park Apartments starting at $1,500 with a $0.87 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.
5211 S Greenwood Ave5211 S Greenwood Ave4BR,2BA$1.09
Prairie Park ApartmentsThree Bedroom 60% AMI3BR,2BA$0.87
7925 S Vernon Ave, Unit 37925 S Vernon Ave3BR,1.5BA$1.00
IronwoodTwo Bedroom 120%2BR,1BA$0.91
8028 S Phillips Ave, Unit 3F8028 S Phillips Ave2BR,1.5BA$1.04
9006 S Escanaba Ave2 Beds, 1 Baths2BR,1BA$1.02
LUELLA2/12BR,1BA$1.09
8014 S Maryland2 Bedroom 1 Bath Apartment2BR,1BA$1.14
7801 S Essex2 Bedroom 1 Bath Apartment2BR,1BA$1.13
2116 East 69th Street, Unit Unit 22116 East 69th Street2BR,1BA$1.13

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

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From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Pet Friendly Lifestyle
South Lakefront, Chicago, IL

Ranked #32

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 $820.

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

The cheapest apartment in South Lakefront is 8001 S Ellis which is listed at $870, while the average apartment in South Lakefront costs $3,300.

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 209 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 $292 which is $3,008 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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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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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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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.

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