Lake Meadows Apartments
3233 S King,
Chicago, IL 60616
$1,030 - $3,443
Studio - 3 Beds
Illinois Institute of Technology
Chicago, IL
Illinois Institute of Technology - Chicago, IL Area Guide
A stellar institution in Chicago’s historic Bronzeville district
Private
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Urban
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Lake
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Walkable
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Public Transportation
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Rail Service
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Since its inception in 1890, Illinois Institute of Technology has built a reputation as one of the finest institutions of its kind in the Midwest. Although a private university, Illinois Tech is considered one of the best values for higher education in the United States. While IIT specializes in the sciences (boasting one of the top-ranked engineering doctoral programs in the nation), they school also features a robust liberal arts sector and remains one of only a handful of tech-based institutions to operate its own law school. In your downtime, it’s easy to walk over to Guaranteed Rate Field for a White Sox Game, or to Burnham Park to enjoy tranquil views of Lake Michigan. Chinatown and South Loop are only a few blocks to the north, and both Metrarail and subway service stop near the campus, opening up the entire city to you anytime. The cost of renting near IIT can vary dramatically, although several apartments and condos are available for under $1000 per month. The Bronzeville neighborhood is known for its historic buildings, and offers many opportunities to live in well-preserved buildings and townhomes as well as more contemporary units.
Rent Trends
As of March 2026, the average apartment rent in Chicago, IL is $1,613 for a studio, $1,996 for one bedroom, $2,507 for two bedrooms, and $3,010 for three bedrooms. Apartment rent in Chicago has increased by 3.0% in the past year.
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Studio
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440 sq ft
Average Sq Ft
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$1,613/month
Average Rent
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1 BR
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659 sq ft
Average Sq Ft
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$1,996/month
Average Rent
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2 BR
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917 sq ft
Average Sq Ft
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$2,507/month
Average Rent
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3 BR
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1,187 sq ft
Average Sq Ft
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$3,010/month
Average Rent
Transportation
83
Very Walkable
out of 100 WalkScore® Rating
If you enjoy walking, you’ll enjoy renting in this area! It’s a very walkable neighborhood.
66
Good Transit
out of 100 TransitScore® Rating
The area around this property has good transit with many nearby transportation options.
77
Very Bikeable
out of 100 BikeScore® Rating
This area is very bikeable. You’ll find a variety of bike paths and lanes.
Schools
Mount Greenwood Elementary School
Public
Grades K-8
1,172 Students
Public
Grades PK-8
976 Students
Public
Grades K-8
886 Students
Hawthorne Elementary Scholastic Academy
Public
Grades K-8
604 Students
Public
Grades PK-8
601 Students
Mount Greenwood Elementary School
Public
Grades K-8
1,172 Students
Public
Grades PK-8
976 Students
Public
Grades K-8
886 Students
Hawthorne Elementary Scholastic Academy
Public
Grades K-8
604 Students
Public
Grades PK-8
601 Students
Northside College Preparatory High School
Public
Grades 9-12
1,040 Students
Hancock College Preparatory High School
Public
Grades 9-12
1,013 Students
Devry Advantage Academy High School
Public
Grades 11-12
135 Students
Jones College Prep High School
Public
Grades 9-12
1,941 Students
Von Steuben Metro Science High School
Public
Grades 9-12
1,656 Students
School data provided by
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Data provided by
GreatSchools.org
© 2026. All rights reserved.
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Data provided by
GreatSchools.org
© 2026. All rights reserved.
Points of Interest
Shopping Centers
Parks and Recreation
- Dunbar Park
- Ellis Park
- Women's Park and Gardens
- Fuller Park
- Burnham Park
Airports
- Chicago Midway International
- Chicago O'Hare International
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.