Cheap Apartments for Rent in the South Lakefront Neighborhood of Chicago, IL from $500 (613 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
$1,018 - $3,050
Total Monthly Price

Total Monthly Price

Base Rent
$968 - $3,000
Required Monthly Fees
$50
Total Monthly Price
$1,018 - $3,050
Studio to 2 Bedroom Apartments Available Now

Scholars Corner Apartments

5100 S Cornell AveChicago, IL 60615
Furnished
  • Verified
  • Customer Reviewed
  • 3D Tour

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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
5748 Blackstone By 3L LivingNo Kitchenette with Shared BathroomStudio,1BA$688
5540 Hyde Park by 3L LivingEfficiency Studio - EastStudio,1BA$698
5445 Ingleside By 3L LivingLarge Co-Living Single RoomStudio,1BA$699
Highlands Tudor Manor - 55+ CommunityStudioStudio,1BA$700
7941 S MarquetteStudio ApartmentStudio,1BA$710
7925 S Phillips Chicago, IL 60617Studio ApartmentStudio,1BA$785
The Townhouse ApartmentsStudio, 1 bathStudio,1BA$850

Best Value Apartments for Rent in South Lakefront, IL

As of February 12, 2026 the best value apartment in the South Lakefront area is the $0.86 price per square foot 6937 S Merrill Ave Model at 6937 S Merrill Ave, Unit Floor 1 in the in the South Shore neighborhood starting from $2,400. The second greatest value South Lakefront apartment is the 7925 S Eberhart Ave Model at 7925 S Eberhart Ave, Unit 1 starting at $1,750 with a $0.76 price per square foot in the Chatham 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.
6937 S Merrill Ave, Unit Floor 16937 S Merrill Ave3BR,2BA$0.86
7925 S Eberhart Ave, Unit 17925 S Eberhart Ave2BR,2BA$0.76
6851 S Wabash Ave, Unit 26851 S Wabash Ave4BR,1BA$0.75
8046 S Maryland Ave, Unit 2nd floor8046 S Maryland Ave2BR,1BA$0.80
8213 S Houston Ave, Unit 2nd Floor8213 S Houston Ave3BR,1BA$1.00
8615 S Colfax Ave, Unit 8615-18615 S Colfax Ave3BR,2BA$1.00
IronwoodTwo Bedroom 120%2BR,1BA$0.91
Coleman Place At Legends SouthThe Coleman3BR,1BA$0.96
9351 S University Ave, Unit Basement9351 S University Ave1BR,1BA$0.70
8642 S Maryland Ave1 Bed, 1 bath1BR,1BA$1.00

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

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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

A Local Expert's guide to the Best Student Friendly Neighborhoods Near Colleges in the Chicago, IL metro area for affordable living. Find your perfect Chicago Student apartment, condo, or rental home today at ApartmentHomeliving.com

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Pet Friendly Lifestyle
South Lakefront, Chicago, IL

Ranked #30

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 $850.

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 $2,925.

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 215 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 $340 which is $2,585 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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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

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

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

Written by: Bob Mallory

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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.