Cheap Apartments for Rent in Great Lakes, IL from $700 (32 Rentals)

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1435 Hervey Ave
2 Bedroom Apartments

1435 Hervey Ave

1435 Hervey AveNorth Chicago, IL 60064
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2417 Sherman Ave
1 to 2 Bedroom Apartments

2417 Sherman Ave

2417 Sherman AveAbbott Park, IL 60064

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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927-941 Broadway Ave
Studio to 2 Bedroom Apartments

927-941 Broadway Ave

927-941 Broadway AveNorth Chicago, IL 60064
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2300 Barrett Ct
1 to 4 Bedroom Apartments

2300 Barrett Ct

2300 Barrett CtNorth Chicago, IL 60064
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1243 Jackson St
Studio Apartments

1243 Jackson St

1243 Jackson StAbbott Park, IL 60064
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615 Sheridan Rd
Studio to 1 Bedroom Apartments

615 Sheridan Rd

615 Sheridan RdLake Bluff, IL 60044
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Sheridan Apartments
Studio to 1 Bedroom Apartments

Sheridan Apartments

1610 Sheridan RdNorth Chicago, IL 60064
  • Utilities Included
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502-506 10th St
2 to 4 Bedroom Apartments

502-506 10th St

502-506 10th StWaukegan, IL 60085
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2413 Sherman Ave
1 to 2 Bedroom Apartments

2413 Sherman Ave

2413 Sherman AveAbbott Park, IL 60064

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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2400 24th Pl
1 to 2 Bedroom Apartments

2400 24th Pl

2400 24th PlNorth Chicago, IL 60064
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525 W Washington Ave
Studio to 2 Bedroom Apartments

525 W Washington Ave

525 W Washington AveLake Bluff, IL 60044
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1548 Kristan Ave
1 Bedroom Apartments

1548 Kristan Ave

1548 Kristan AveNorth Chicago, IL 60064
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1911 Sherman Ave
2 to 3 Bedroom Apartments

1911 Sherman Ave

1911 Sherman AveNorth Chicago, IL 60064
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601 Hill St
1 to 2 Bedroom Apartments

601 Hill St

601 Hill StWaukegan, IL 60085
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1123 Broadway Ave
1 to 2 Bedroom Apartments

1123 Broadway Ave

1123 Broadway AveNorth Chicago, IL 60064

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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Prairie View Apartments
1 to 3 Bedroom Apartments

Prairie View Apartments

1 Prairie View CtNorth Chicago, IL 60064
  • Utilities Included
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1111 Broadway Ave
1 to 2 Bedroom Apartments

1111 Broadway Ave

1111 Broadway AveNorth Chicago, IL 60064
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Forest View Manor
1 Bedroom Apartments

Forest View Manor

1912 10TH StWaukegan, IL 60085
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1117 Broadway Ave
1 to 2 Bedroom Apartments

1117 Broadway Ave

1117 Broadway AveNorth Chicago, IL 60064
Senior Living
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1635 Hervey Ave
1 Bedroom Apartments

1635 Hervey Ave

1635 Hervey AveNorth Chicago, IL 60064
  • Utilities Included

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

Great Lakes, IL Local Guide

Cheapest Available Great Lakes Apartments for Rent and Nearby

 
Apartment ListingModel NameBed/BathPriced From
Deer Valley ApartmentsTwo Bedroom2BR,2BA$1,772
Forest Pointe ApartmentsA21BR,1BA$1,857

Best Value Apartments for Rent in Great Lakes, IL and Nearby

As of June 12, 2026 the best value apartment in the Great Lakes area is the $1.69 price per square foot Two Bedroom Model at Deer Valley Apartments in the in the North Center neighborhood starting from $1,772. The second greatest value Great Lakes apartment is the B1 Model at Forest Pointe Apartments starting at $2,696 with a $2.75 price per square foot in the Downtown Lake Forest neighborhood. Here is today’s list of the best values for Great Lakes apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Deer Valley ApartmentsTwo Bedroom2BR,2BA$1.69
Forest Pointe ApartmentsB12BR,2BA$2.75

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

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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How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Cheap Great Lakes Apartments

What is the lowest price for a Cheap Two Bedroom Great Lakes Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Great Lakes is starting from $1,772 at Deer Valley Apartments.

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.

Articles, How-To's, and Tips

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

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.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.