Cheap Apartments for Rent in the Downtown Lake Forest Neighborhood of Lake Forest, IL from $1,300 (16 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Lake Forest area of Lake Forest.

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723 N McKinley Rd
3 Bedroom Apartments

723 N McKinley Rd

723 N McKinley RdLake Forest, IL 60045
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105 E Laurel Ave
Studio Apartments

105 E Laurel Ave

105 E Laurel AveLake Forest, IL 60045
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704 Cherry Ave
Studio Apartments

704 Cherry Ave

704 Cherry AveLake Forest, IL 60045
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269 E Woodland Rd
Studio Apartments

269 E Woodland Rd

269 E Woodland RdLake Forest, IL 60045

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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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.

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3556 Western Ave
2 Bedroom Apartments

3556 Western Ave

3556 Western AveHighland Park, IL 60035
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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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213 Leonard Wood
2 to 5 Bedroom Apartments

213 Leonard Wood

213 Leonard WoodHighland Park, IL 60035
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525 W Washington Ave
Studio to 2 Bedroom Apartments

525 W Washington Ave

525 W Washington AveLake Bluff, IL 60044

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

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Showing Results 1-16, Page 1 of 1

Downtown Lake Forest, Lake Forest, IL Local Guide

Cheapest Available Downtown Lake Forest Apartments for Rent

 
Apartment ListingModel NameBed/BathPriced From
The Residences at Amberley WoodsP3BR,2BA$6,020

Best Value Apartments for Rent in Downtown Lake Forest, IL

As of January 24, 2026 the best value apartment in the Downtown Lake Forest area is the $2.62 price per square foot P Model at The Residences at Amberley Woods in the in the Downtown Lake Forest neighborhood starting from $6,020. The second greatest value Downtown Lake Forest apartment is the 869 N McKinley Rd Model at 869 N McKinley Rd, Unit Unit 2 starting at $2,000 with a $2.86 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 ListingModel NameBed/BathPrice Per Sq.Ft.
The Residences at Amberley WoodsP3BR,2.5BA$2.62
869 N McKinley Rd, Unit Unit 2869 N McKinley Rd2BR,1BA$2.86

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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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Best Local Schools in
Downtown Lake Forest, Lake Forest, IL

School data provided by Great Schools

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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Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.

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