Cheap Apartments for Rent in the South Lakefront Neighborhood of Chicago, IL from $500 (560 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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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 Studio unit found at Highlands Tudor Manor - 55+ Community priced from $700. 5445 Ingleside By 3L Living has the second lowest priced unit, which is a Studio apartment currently listed from $712. Here are the most affordable South Lakefront apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Highlands Tudor Manor - 55+ CommunityStudioStudio,1BA$700
5445 Ingleside By 3L LivingLarge Co-Living Single RoomStudio,1BA$712
5540 Hyde Park by 3L LivingEfficiency Studio - NorthStudio,1BA$724
5748 Blackstone By 3L LivingNo Kitchenette with Shared BathroomStudio,1BA$726
6246 S. King Dr.Two rm StudioStudio,1BA$750
8640 S Ingleside AveStudio ApartmentStudio,1BA$810
The Townhouse ApartmentsStudio, 1 bathStudio,1BA$850
8208 S Drexel Ave1 Bedroom 1 Bath Apartment1BR,1BA$860

Best Value Apartments for Rent in South Lakefront, IL

As of July 12, 2025 the best value apartment in the South Lakefront area is the $0.43 price per square foot 8518 S Bennett Ave Model at 8518 S Bennett Ave, Unit 3 in the in the Avalon Park neighborhood starting from $1,650. The second greatest value South Lakefront apartment is the 7845 S Kingston Ave Model at 7845 S Kingston Ave, Unit 3 starting at $1,599 with a $0.53 price per square foot in the South Shore 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.
8518 S Bennett Ave, Unit 38518 S Bennett Ave3BR,1BA$0.43
7845 S Kingston Ave, Unit 37845 S Kingston Ave3BR,2BA$0.53
7914 S Champlain Ave, Unit 37914 S Champlain Ave4BR,1BA$1.00
7437-7439 S Chappel Ave3BD/2BA3BR,2BA$0.94
7953 S Essex Ave, Unit 27953 S Essex Ave3BR,1BA$1.07
8915 S Exchange Ave, Unit 38915 S Exchange Ave4BR,1BA$1.07
6224 S Dr Martin Luther King Jr Dr4 Bedroom 2 Bath Apartment4BR,2BA$1.03
7701 S Yates Blvd2 Bedroom 1 Bath Apartment with dining2BR,1BA$1.02
9427 S Ewing Ave, Unit 19427 S Ewing AveStudio ,1BA$1.00
8046 S Maryland Ave, Unit 1st floor8046 S Maryland Ave1BR,1BA$0.82

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Pet Friendly Lifestyle
South Lakefront, Chicago, IL

Ranked #136

Among neighborhoods in Chicago, IL 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 $860.

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

The cheapest apartment in South Lakefront is 8208 S Drexel Ave which is listed at $860, while the average apartment in South Lakefront costs $3,647.

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 40 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 $113 which is $3,534 cheaper than the average rent for all rentals in South Lakefront.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.