Cheap Apartments for Rent in the South Lakefront Neighborhood of Chicago, IL from $500 (389 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 - WestStudio,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$760
7800-06 S Essex1 Bedroom 1 Bath Apartment1BR,1BA$785
6751 S Jeffery BlvdStudio ApartmentStudio,1BA$815
7925 S Phillips1 Bedroom 1 Bath Apartment1BR,1BA$825
South Shore Beach ApartmentsStudioStudio,1BA$825

Best Value Apartments for Rent in South Lakefront, IL

As of March 16, 2025 the best value apartment in the South Lakefront area is the $0.43 price per square foot 8518 S Bennett Ave Model at 8518 S Bennett Ave, Unit 3 in the in the Avalon Park neighborhood starting from $1,650. 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.
8518 S Bennett Ave, Unit 38518 S Bennett Ave3BR,1BA$0.43
1015 E Hyde Park Blvd, Unit 31015 E Hyde Park Blvd5BR,3BA$1.09
7147 S Princeton Ave, Unit 17147 S Princeton Ave3BR,2BA$0.90
3402 S Prairie Ave, Unit 33402 S Prairie Ave3BR,2BA$1.10
7243 S Stony Island Ave, Unit 37243 S Stony Island Ave3BR,2BA$1.13
7115 S Cornell Ave, Unit 3N7115 S Cornell Ave4BR,1BA$1.03
6630 S Ingleside Ave, Unit 26630 S Ingleside Ave3BR,1BA$1.00
6842 S East End Ave, Unit 36842 S East End Ave2BR,1BA$1.06
7944 S Lafayette Ave, Unit 27944 S Lafayette Ave2BR,1BA$0.81
7824 S Greenwood Ave, Unit G7824 S Greenwood Ave4BR,2BA$1.04

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Pet Friendly Lifestyle
South Lakefront, Chicago, IL

Ranked #52

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

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 the Cheapest Studio apartment in South Lakefront?

Currently the most affordable Cheap Studio Apartment in South Lakefront is at 5445 Ingleside By 3L Living listed at $600.

How much is rent for a Cheap One Bedroom South Lakefront Apartment?

The lowest price for a Cheap One Bedroom South Lakefront Apartment is $895 at 8345-49 S Drexel Ave.

What is the lowest price for a Cheap Two Bedroom South Lakefront Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in South Lakefront is starting from $960 at Southland Village.

What is the most affordable South Lakefront Three Bedroom Apartment?

The best deal on a cheap South Lakefront Three Bedroom Apartment rental is at Southland Village and starts from $1,100.

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.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago article

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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What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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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.