Cheap Apartments for Rent in the South Lakefront Neighborhood of Chicago, IL from $500 (367 Rentals)

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Search the lowest-cost Apartments available for rent right now in the South Lakefront area of Chicago.

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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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 5445 Ingleside By 3L Living priced from $600. 5540 Hyde Park by 3L Living has the second lowest priced unit, which is a Studio apartment currently listed from $699. Here are the most affordable South Lakefront apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
5445 Ingleside By 3L LivingLarge Co-Living Single RoomStudio,1BA$600
5540 Hyde Park by 3L Living_5540 - Single - NorthStudio,1BA$699
5748 Blackstone By 3L LivingNo Kitchenette with Shared BathroomStudio,1BA$699
6246 S. King Dr.Two rm StudioStudio,1BA$750
Highlands Tudor Manor - 55+ CommunityStudioStudio,1BA$750
7850 S Constance AveStudio ApartmentStudio,1BA$765
South Shore Beach ApartmentsStudioStudio,1BA$825
6751 S Jeffery BlvdStudio ApartmentStudio,1BA$840
8001-09 S Ellis Ave1 Bedroom 1 Bath Apartment1BR,1BA$840
7834 S Coles1 Bedroom 1 Bath Apartment1BR,1BA$845

Best Value Apartments for Rent in South Lakefront, IL

As of April 15, 2025 the best value apartment in the South Lakefront area is the $0.44 price per square foot 7220 S Ridgeland Ave Model at 7220 S Ridgeland Ave, Unit 1 in the in the South Shore neighborhood starting from $1,600. The second greatest value South Lakefront apartment is the 1015 E Hyde Park Blvd Model at 1015 E Hyde Park Blvd, Unit 3 starting at $3,600 with a $1.09 price per square foot in the Hyde Park 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.
7220 S Ridgeland Ave, Unit 17220 S Ridgeland Ave3BR,1BA$0.44
1015 E Hyde Park Blvd, Unit 31015 E Hyde Park Blvd5BR,3BA$1.09
4820 S Champlain Ave, Unit Apt 34820 S Champlain Ave3BR,2BA$0.77
6736 S Chappel Ave, Unit 36736 S Chappel Ave3BR,2BA$1.11
7914 S Champlain Ave, Unit 17914 S Champlain Ave3BR,1BA$1.13
2805 E 87th St, Unit 1-42805 E 87th St2BR,1BA$0.97
7944 S Lafayette Ave, Unit 27944 S Lafayette Ave2BR,1BA$0.93
7824 S Greenwood Ave, Unit G7824 S Greenwood Ave4BR,2BA$1.04
7700 S Kingston Ave2 Bedroom 2 Bath Apartment2BR,2BA$1.13
7915 S Dobson Ave, Unit 1E7915 S Dobson Ave1BR,1BA$1.00

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Pet Friendly Lifestyle
South Lakefront, Chicago, IL

Ranked #64

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 $845.

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

The cheapest apartment in South Lakefront is 8001-09 S Ellis Ave which is listed at $840, while the average apartment in South Lakefront costs $3,945.

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 35 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 $139 which is $3,806 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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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.