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3 Bedroom Apartments
723 N McKinley Rd
723 N McKinley RdLake Forest, IL 60045
Cheap Apartments for Rent in the Downtown Lake Forest Neighborhood of Lake Forest, IL from $1,450 (16 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Lake Forest area of Lake Forest.
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1 to 2 Bedroom Apartments
Lake Forest Place Senior Apartments
1100 Pembridge DrLake Forest, IL 60045
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Studio Apartments
105 E Laurel Ave
105 E Laurel AveLake Forest, IL 60045
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Studio Apartments
704 Cherry Ave
704 Cherry AveLake Forest, IL 60045
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Studio Apartments
269 E Woodland Rd
269 E Woodland RdLake Forest, IL 60045
Chicago's Best Affordable Neighborhoods
Learn about Chicago and the best places to live with original content written by our Chicago, IL Local Expert Nicole Harms
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1 to 3 Bedroom Apartments
Apartment Homes at Kelmscott Park
145 Morris LnLake Forest, IL 60045
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2 to 3 Bedroom Apartments
The Residences at Amberley Woods
1850 Amberley CtLake Forest, IL 60045
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$1,6502 Bedroom Apartments Available Now
Terrace Oaks Apartments
501-506 Smith RdLake Bluff, IL 60044
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$1,450 - $1,6251 to 2 Bedroom Apartments Available Now
The Oaks of Lake Bluff
601 W Washington AveLake Bluff, IL 60044
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Rent Specials
$1,871 - $9,8651 to 2 Bedroom Apartments Available Now
Forest Pointe Apartments
29533 N Waukegan RdLake Bluff, IL 60044
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.
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Studio to 1 Bedroom Apartments
615 Sheridan Rd
615 Sheridan RdLake Bluff, IL 60044
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2 Bedroom Apartments
3556 Western Ave
3556 Western AveHighland Park, IL 60035
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1 Bedroom Apartments
29123 N Waukegan Rd
29123 N Waukegan RdLake Bluff, IL 60044
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2 to 5 Bedroom Apartments
213 Leonard Wood
213 Leonard WoodHighland Park, IL 60035
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Studio to 2 Bedroom Apartments
525 W Washington Ave
525 W Washington AveLake Bluff, IL 60044
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.
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3 Bedroom Apartments
Westover Townhomes
64-114 Westover RdHighwood, IL 60040
Showing Results 1-16, Page 1 of 1
Downtown Lake Forest, Lake Forest, IL Local Guide
How much does it cost to rent an apartment in Downtown Lake Forest?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Lake Forest 1 Bedroom Apartments | $1,908 | $1,450 | $2,235 |
| Downtown Lake Forest 2 Bedroom Apartments | $2,236 | $1,625 | $2,602 |
Browse Apartments in this Neighborhood
There are currently 16 rentals with your search options within a 3 mile radius of the Downtown Lake Forest Neighborhood of Lake Forest, IL.
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Downtown Lake Forest, Lake Forest, IL Local Guide
- Nearby Lake Forest neighborhoods
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Cheapest Available Downtown Lake Forest Apartments for Rent
The cheapest available apartment rental in the Downtown Lake Forest area of Chicago, IL is a 2 Beds unit found at The Oaks of Lake Bluff priced from $1,625. Terrace Oaks Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,650. Here are the most affordable Downtown Lake Forest apartments for rent in Chicago, IL:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Oaks of Lake Bluff | Two Bedroom | 2BR,1BA | $1,625 |
| Terrace Oaks Apartments | 2 Bedroom | 2BR,1BA | $1,650 |
| Forest Pointe Apartments | A2 | 1BR,1BA | $1,929 |
| Westover Townhomes | 3 Beds, 2.5 Baths | 3BR,2BA | $4,200 |
Best Value Apartments for Rent in Downtown Lake Forest, IL
As of September 12, 2026 the best value apartment in the Downtown Lake Forest area is the $2.15 price per square foot 3 Beds, 2.5 Baths Model at Westover Townhomes in the in the Downtown Lake Forest neighborhood starting from $4,200. The second greatest value Downtown Lake Forest apartment is the Two Bedroom Model at The Oaks of Lake Bluff starting at $1,625 with a $1.81 price per square foot in the Downtown Lake Forest neighborhood. Here is today’s list of the best values for Downtown Lake Forest apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Westover Townhomes | 3 Beds, 2.5 Baths | 3BR,2.5BA | $2.15 |
| The Oaks of Lake Bluff | Two Bedroom | 2BR,1BA | $1.81 |
| Terrace Oaks Apartments | 2 Bedroom | 2BR,1.5BA | $1.83 |
| Forest Pointe Apartments | A2 | 1BR,1BA | $2.70 |
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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Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
Read ArticleReal 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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Quick Rent Budget Calculator
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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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If you’re an expert on all things Downtown Lake Forest, tell us what you love (and don't) by rating it and writing a review.
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Best Local Schools in Downtown Lake Forest, Lake Forest, IL
Lake Bluff Elementary School
Lake Bluff Esd 65 School District
Public School - Grades PK-5 (571)
9 out of 10
Lake Forest High School
Lake Forest Chsd 115 School District
Public School - Grades 9-12 (1348)
9 out of 10
Lake Bluff Middle School
Lake Bluff Esd 65 School District
Public School - Grades 6-8 (303)
9 out of 10
School data provided by Great Schools
Frequently Asked Questions about Cheap Downtown Lake Forest Apartments
What is the lowest price for a Cheap Two Bedroom Downtown Lake Forest Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Downtown Lake Forest is starting from $1,625 at The Oaks of Lake Bluff.
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.
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