Cheap Apartments for Rent in the Downtown Lake Forest Neighborhood of Lake Forest, IL from $1,200 (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.

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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3556 Western Ave
2 Bedroom Apartments

3556 Western Ave

3556 Western AveHighland Park, IL 60035
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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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Downtown Lake Forest, Lake Forest, IL Local Guide

Cheapest Available Downtown Lake Forest Apartments for Rent

 

The cheapest available apartment rental in the Downtown Lake Forest area of Chicago, IL is a 1 Bed unit found at Arrive North Shore priced from $1,970. The Residences at Amberley Woods has the second lowest priced unit, which is a 2 Beds apartment currently listed from $4,126. Here are the most affordable Downtown Lake Forest apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Arrive North ShoreAshland1BR,1BA$1,970
The Residences at Amberley WoodsH2BR,2BA$4,126
Bloom Street Townhomes - 425 Bloom StCorner Unit3BR,2BA$5,250

Best Value Apartments for Rent in Downtown Lake Forest, IL

As of April 03, 2025 the best value apartment in the Downtown Lake Forest area is the $2.69 price per square foot Q Model at The Residences at Amberley Woods in the in the Downtown Lake Forest neighborhood starting from $7,000. The second greatest value Downtown Lake Forest apartment is the Corner Unit Model at Bloom Street Townhomes - 425 Bloom St starting at $5,250 with a $2.63 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 WoodsQ3BR,3BA$2.69
Bloom Street Townhomes - 425 Bloom StCorner Unit3BR,2.5BA$2.63
Arrive North ShoreAshland1BR,1BA$3.29

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Pet Friendly Lifestyle
Downtown Lake Forest, Lake Forest, IL

Ranked #1

Among neighborhoods in Lake Forest, IL for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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

School data provided by Great Schools

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

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 $2,060 at Arrive North Shore.

What is the most affordable Downtown Lake Forest Three Bedroom Apartment?

The best deal on a cheap Downtown Lake Forest Three Bedroom Apartment rental is at Bloom Street Townhomes - 425 Bloom St and starts from $5,250.

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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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.