Chicago Homes under $500,000

Welcome to the vibrant city of Chicago, Illinois, nestled along the picturesque shores of Lake Michigan. Known for its stunning skyline, rich history, and diverse culture, Chicago is a city that truly has something for everyone. Whether you're an art enthusiast, a foodie, or a sports fan, you'll find your niche in this dynamic metropolis.

Cook County, where Chicago resides, is a bustling hub of activity, offering a mix of urban excitement and suburban charm. With its world-class museums, renowned theaters, and eclectic neighborhoods, Chicago is a place where creativity flourishes and community thrives. From the iconic architecture of the Loop to the charming streets of Lincoln Park, each neighborhood has its own unique character and charm.

For those looking to make Chicago their home without breaking the bank, there are plenty of exceptional homes available for under $500,000. These properties provide an excellent opportunity for first-time buyers, families, or anyone looking to invest in a growing market. Imagine living in a cozy bungalow in the heart of the city or a modern condo with breathtaking views of the skyline—all within your budget!

With a wide range of options, including single-family homes, townhouses, and condos, you're sure to find a space that fits your lifestyle. Plus, with Chicago's robust public transportation system, commuting to work or exploring the city is a breeze.

Discover the charm and excitement of Chicago while finding your perfect home at a price that suits your budget. Your dream life in the Windy City awaits!

Newest Chicago Homes under $500,000

$85,000

2 Beds ⋅ 1 Baths ⋅ 12776309 MLS ⋅ NEW Status

ATTEN: INVESTORS & BUILDERS- Prime opportunity to transform this property into a profitable investment or add it to your portfolio! Ideally located near Sherman Park and public transportation, this 2-bedroom, 1-bath home offers plenty of potential for the savvy investor or builder. Property features a full walk out basement, fenced-in yard, and detached garage. The interior has been gutted, providing a clean slate to bring your vision to life. Bring your ideas, creativity, and expertise and unlock the potential of this property! Great opportunity for a flip, renovation project, or investment portfolio addition. See this property today!

5247 S May Street, Chicago

$182,000

3 Beds ⋅ 1 Baths ⋅ 12776323 MLS ⋅ NEW Status

Foreclosure sold with non-paying tenant in place. Price agreed upon by foreclosure. 3 bedroom, 1 bath. Property was inherited and heir does not have access to interior but tenant is known. There are no interior pictures and no other information available. No inspections other than exterior of property. Survey must be paid for buy buyer. CASH ONLY as we do not have interior access. Great opportunity if you are willing to work out a lease or move-out with tenant. Absolutely no access will be granted to the interior unless you can convince the tenant to let you in. No disclosures as seller has no knowledge of condition of home.

8520 S Laflin Street, Chicago

$290,000

1 Beds ⋅ 1 Baths ⋅ 12774304 MLS ⋅ NEW Status

South Loop Living with Parking, Storage & a Balcony Included! Welcome home to this beautifully maintained 1-bedroom, 1-bath condo in the heart of Chicago's South Loop. This inviting home combines comfort, convenience, and value with features that are hard to find at this price point. The bright, open living space features hardwood floors, espresso cabinetry, and new stainless-steel appliances, creating a warm and modern setting for everyday living or entertaining. Step outside onto your south-facing private balcony and enjoy your own outdoor space for morning coffee, relaxing, or hosting friends. The spacious bathroom offers both a luxurious Jacuzzi tub and a separate shower, while in-unit laundry adds the convenience buyers are looking for. And here's the big value: garage parking and a storage space are included in the price! The full-service building features a 24-hour doorman and fitness room, while the monthly assessment includes an impressive list of essentials: basic cable, WiFi, heat, gas, air conditioning, water, trash, common insurance and maintenance, plus doorman service and parking. Located in the highly sought-after South Loop, you're close to groceries, restaurants, public transportation, neighborhood amenities, and the lakefront. Whether you're a first-time buyer, looking for a city pied-a-terre, or seeking an investment opportunity, this condo delivers the lifestyle and convenience that make South Loop living so desirable. Parking. Storage. Balcony. In-unit laundry. Full-service building. South Loop location. It's all here. Schedule your private showing today and come see why this one deserves a spot at the top of your list!

1529 S State Street Unit #17F, Chicago

$205,000

1 Beds ⋅ 1 Baths ⋅ 12773814 MLS ⋅ NEW Status ⋅ Imperial Towers BLDG.

MOVE-IN READY, BEAUTIFULLY RENOVATED & AN EXCEPTIONAL LAKEFRONT LIFESTYLE! Experience luxury lakefront living in this beautifully renovated, spacious 1 Bedroom Condo in a full-service high-rise directly across from Lake Michigan. This stunning residence features a BRAND-NEW KITCHEN with sleek cabinetry, quartz countertops, all-new appliances, modern lighting and updated electrical. The spa-inspired bath offers a WALK-IN SHOWER with Italian tile and an automatic smart toilet, complemented by beautiful new flooring throughout. The generous layout provides ample space for a dedicated HOME OFFICE while maintaining comfortable living, dining and sleeping areas. Enjoy resort-style amenities including a 24-HOUR DOORMAN, fitness center, pool, sundeck, package lockers, on-site management and parking available for lease. A great coffee shop, grocery store and mailroom are conveniently located in the building. Lake Michigan, parks and harbor are just outside your door, with shopping, dining, nightlife and entertainment nearby. Express transportation provides easy access to the Magnificent Mile and Downtown Chicago. PET FRIENDLY!

4250 N Marine Drive Unit #905, Chicago

$469,900

2 Beds ⋅ 2 Baths ⋅ 12728683 MLS ⋅ NEW Status

SAUGANASH PARK,CUSTOM BUILT ALL BRICK RANCH.COMPLETELY REMODELED BY INTERIOR DESIGNER IN 2015.LARGE LIVING ROOM WITH PICTURE WINDOW AND HARDWOOD FLOORS..FULL FINISHED BASEMENT WITH ONE BEDROOM AND BATH.EXCELLENT LOCATION AND EXCELLENT CONDITION A MUST SEE. LOCATED ACROSS FROM FOREST PRESERVE AND WALKING TRAIL. Property being sold in As-Is condition. Broker Interest

6105 N Lowell Avenue, Chicago

$259,000

1 Beds ⋅ 1 Baths ⋅ 12776259 MLS ⋅ NEW Status

Investment opportunity in one of best neighborhoods in Chicago. Rental unit with tenant until May 1.2027 Spectacular and remodeled bright 1BR garden unit in prime Ukranian Village. Open floor plan with S/S appliances ( brand new fridge) , granite countertops, maple cabinets and brand new washer /dryer . Large size bedroom and full windows in living room , washer /dryer in unit/ walk to everything - makes very desirable rental on one of best blocks in city. Unit entrance is through nice size private cement patio. A great first time home in an amazing area. Steps from Chicago ave and Division, shopping and dining, Wicker park entertainment & much more! Owner is licensed Real Estate Agent. Unit rented until May 1.2027.

2335 W Iowa Street Unit #1G, Chicago

1727 S Indiana Avenue Unit #110, Chicago

$239,000

1 Beds ⋅ 2 Baths ⋅ 12776251 MLS ⋅ NEW Status

Soaring ceilings, exposed brick, and timber beams define this rare duplex loft in Prairie District Lofts, the former Kodak Building. With 1,073 sq ft across two levels, this move-in-ready 1-bedroom, 1.5-bath home features 14-foot ceilings, 9-foot windows, hardwood floors, and a gas fireplace. The open kitchen offers an oversized granite island, custom cabinetry, and stainless steel appliances. Two walk-in closets and in-unit laundry provide practical comforts alongside the loft's architectural character. Building amenities include a shared rooftop deck with sweeping skyline views, fitness room, bike storage, on-site management, and an expansive atrium with event space. No rental cap offers flexibility for buyers seeking a home or an income-producing investment. Enjoy easy access to the lakefront, Grant Park, Museum Campus, Soldier Field, McCormick Place, and South Loop dining and shopping, with CTA buses and the El nearby. Street parking and nearby garage options are available. The building is non-warrantable for conventional financing, but financing options are available through portfolio lenders, subject to lender approval. Cash buyers welcome. Contact the listing agent for financing information.

1727 S Indiana Avenue Unit #110, Chicago

$250,000

4 Beds ⋅ 3 Baths ⋅ 12775184 MLS ⋅ NEW Status

Discover a well-positioned property offering space, flexibility, and distinctive outdoor features! This home offers an exceptional combination of versatile living space, attractive landscaping, and thoughtfully designed areas throughout. Featuring 4 bedrooms and 3 full bathrooms, with one bathroom on each level, the layout provides flexibility for a variety of living arrangements. The main level features an open kitchen connected to a separate dining room, along with A/C and forced-air heating. The second level offers 2 bedrooms, a full bathroom, and abundant attic storage. The lower level provides even more possibilities, featuring a large open area, additional nooks, a full bathroom, and a separate laundry room complete with storage, workbench, and utility closet. The exterior is equally impressive, showcasing professionally landscaped front and rear grounds with decorative concrete detailing, two separate landscaped green spaces, and a huge covered deck ideal for outdoor enjoyment. The expansive covered carport features lighting, electricity, and optional tandem parking. Adding to the appeal is a custom-built wood-burning grill, creating a distinctive outdoor setting. With generous space, multiple storage options, and unique indoor and outdoor features, this property is ready to be discovered. Multiple offers are expected! Schedule your private showing today and experience all this property has to offer!

13340 S Carondolet Avenue, Chicago

2035 S Indiana Avenue Unit #409, Chicago

$365,000

2 Beds ⋅ 2 Baths ⋅ 12776088 MLS ⋅ NEW Status

Location, location, location! Welcome home to this sun-filled 2-bedroom, 1.5-bath condo with PARKING! in Chicago's South Loop/Prairie District.Flooded with natural light from expansive floor-to-ceiling windows, this inviting Condo features an open concept layout, gleaming hardwood floors, newer light fixtures, New A/C (2026) in-unit laundry, and generous primary bedroom closet space. Step out from the living room onto your private balcony, the perfect spot for morning coffee, relaxing, or entertaining guests. The spacious kitchen offers beautiful wood cabinetry, stainless steel appliances, granite countertops, and a convenient breakfast bar that opens to the main living area. This well-maintained, pet-friendly building provides secure entry and an intercom doorbell system for added peace of mind and convenient guest access. Enjoy all that the South Loop has to offer, with an incredible selection of restaurants, sporting events, parks, and easy access to the lakefront. Public transportation is just minutes away, including convenient access to the new L station and Bus stop. Don't miss the opportunity to make this fantastic South Loop condo your new home. Schedule your private showing today!

2035 S Indiana Avenue Unit #409, Chicago

$172,000

1 Beds ⋅ 1 Baths ⋅ 12776175 MLS ⋅ NEW Status

5100 N Sheridan Road Unit #404, Chicago

$130,000

2 Beds ⋅ 2 Baths ⋅ 12776159 MLS ⋅ NEW Status

A Great Opportunity with Endless Potential! Whether you're an investor looking for your next project or a buyer ready to customize a home to fit your vision, this one-story property is worth a look! The main level features 2 bedrooms, 1 full bathroom, a living room, dining room, and kitchen, providing a comfortable layout with plenty of opportunity to make it your own. The home also includes an enclosed back porch, a fenced backyard, and a one-car garage, offering additional space and functionality. The full basement adds even more potential, featuring another full bathroom, a kitchen area, and an additional room that could be used as a bedroom, office, recreation space, or whatever best suits your needs. With its versatile layout, additional living space, and desirable features, this property is full of possibilities and ready for the right buyer to bring their vision to life. Don't miss this opportunity to create something special! Schedule your showing today.

6608 S Claremont Avenue, Chicago

$295,000

3 Beds ⋅ 3 Baths ⋅ 12772811 MLS ⋅ NEW Status

Beautifully updated brick 2-flat in Chicago's West Garfield Park neighborhood! This move-in-ready property offers an excellent opportunity for an owner-occupant or investor. The first-floor unit is a spacious duplex-down featuring 2 full baths. The lower level was previously used as a second bedroom suite with its own private bath, offering flexible additional living space. The second-floor unit features 2 spacious bedrooms. Both units have been tastefully updated with white cabinetry, quartz countertops, stainless steel appliances, refinished hardwood and laminate flooring, LED recessed lighting, updated light and plumbing fixtures, and beautifully renovated ceramic tile baths. Additional improvements include 3 new hot water tanks and freshly paint throughout, including the doors, trim, enclosed rear porch, and front entrance. Both units also offer plenty of closet and storage space. Each unit features separate utilities, circuit breaker electrical service, and forced-air heating. The property is secured by an iron fence in front and a gated iron fence in the rear. A spacious rear parking pad is conveniently accessed through a rolling gate. Ideal for a live-in owner looking to generate additional rental income or an investor seeking a move-in-ready rental property. Conveniently located approximately one block from the I-290 eastbound entrance, offering easy expressway access and a short drive to Downtown Chicago. Updated, versatile, and ready for immediate occupancy or rental!

760 S Kostner Avenue, Chicago

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