Chicago Homes under $200,000

Welcome to the vibrant city of Chicago, Illinois—a place where rich history meets contemporary living. Nestled along the shores of Lake Michigan, this bustling metropolis is known for its iconic skyline, diverse neighborhoods, and a cultural tapestry that reflects the heart of America. From the stunning architecture of the Loop to the charming streets of Lincoln Park, Chicago offers something for everyone.

For those seeking affordable housing options, the Windy City has a hidden gem: homes priced under $200,000. This market presents a fantastic opportunity for first-time buyers, investors, or anyone looking to find a cozy abode without breaking the bank. You’ll discover a variety of properties, from quaint bungalows and vintage flats to modern condos, all tucked away in welcoming neighborhoods that boast their own unique character.

Living in Chicago means embracing a lifestyle filled with world-class dining, vibrant arts, and endless entertainment. Whether you’re enjoying a deep-dish pizza in the historic West Loop or catching a show at the renowned Chicago Theatre, there’s never a dull moment. Plus, with an extensive public transportation system, commuting to work or exploring the city is a breeze.

As you embark on your home-buying journey, rest assured that Chicago offers a wealth of options that meet your budget and lifestyle needs. With a little research and guidance, you’ll find the perfect place to call home in this dynamic city. Embrace the opportunity to be part of Chicago’s thriving community and start your new chapter today!

Newest Chicago Homes under $200,000

$188,900

1 Beds ⋅ 1 Baths ⋅ 12798391 MLS ⋅ NEW Status ⋅ Jonquil Commons BLDG.

Discover a fantastic opportunity in Rogers Park just moments from Chicago's lakefront! Bright and welcoming, this corner 1-bedroom, 1-bath condo combines an open, comfortable layout with desirable finishes. Hardwood floors extend throughout the living area, and the kitchen is equipped with granite countertops, stainless steel appliances, maple cabinetry, and a generous peninsula perfect for meal prep, dining, or entertaining. A south-facing kitchen window brings in natural light, and the outdoor deck creates an inviting extension of the home. The spacious bedroom offers plenty of room for a complete furniture setup, while in-unit laundry, storage and a common bike room add everyday convenience. And then there's the location. Set near the Lake Michigan shoreline, parks and beaches, this home puts some of Rogers Park's best outdoor amenities close at hand while maintaining convenient access to CTA rail and bus transportation. With a smart combination of space, convenience and location, 1421 W Jonquil Terrace #2 is ready for its next chapter! Note: Square Footage is estimated. Please verify before submitting an offer.

1421 W Jonquil Terrace Unit #2, Chicago

$175,000

3 Beds ⋅ 2 Baths ⋅ 12804956 MLS ⋅ NEW Status

5546 S Lowe Avenue, Chicago

$109,900

6 Beds ⋅ 4 Baths ⋅ 12805082 MLS ⋅ NEW Status

GREAT INVESTMENT TO ADD TO YOUR EXCITING PORTFOLIO OR FIX AND FLIP. OVERSIZED BUNGALOW ON CORNER WITH 9 ROOMS AND 4 LARGE SIZE BEDROOMS. AND THE COACH HOUSE THE SECOND UNIT ON THE REAR OF THE LOT. NEEDS TOTAL GUT // COMPLETE REHAB WORK. LOTS OF POTENTIAL

1435 W Marquette Road, Chicago

$178,500

1 Beds ⋅ 1 Baths ⋅ 12804441 MLS ⋅ NEW Status ⋅ Winston Towers BLDG.

Winston Towers! Large 1 br condo with balcony. Pretty eastern views. Park-like grounds. NEW windows throughout and NEW sliding door to balcony. NEWER wood laminate floors throughout. NEWER light fixtures. Lots of closet space. Eat-in kitchen with plenty of NEWER cabinets, countertops, backsplash, and faucet. NEWER Stainless Steel appliances. NICE SIZE bedroom. Bathroom with NEWER vanity, tile floor, toilet and medicine cabinet. Laundry same floor, Storage locker, Exercise Room, Shabbos elevator, Party room, and Outdoor pool. Near shopping and transportation. MUST SEE!

7061 N Kedzie Avenue Unit #305, Chicago

$110,000

2 Beds ⋅ 2 Baths ⋅ 12796194 MLS ⋅ NEW Status

LOCATION! LOCATION! Being situated near the OBAMA PRESIDENTIAL CENTER ... Don't miss this wonderful opportunity to own a 2-bedroom, 2-bath condominium ideally situated directly across from Jackson Park! This inviting unit features hardwood floors, a spacious living room with a lovely decorative fireplace mantel, a delightful sunroom, and a kitchen with a refrigerator and stove. The primary bedroom includes an ensuite bath and a ceiling fan. BANK-OWNED PROPERTY BEING SOLD AS-IS.Great opportunity for buyers looking to add their personal touches...

2205 E 67Th Street Unit #1W, Chicago

$150,000

6 Beds ⋅ 2 Baths ⋅ 12804626 MLS ⋅ NEW Status

Well-maintained 2-flat building featuring a total of 6 bedrooms and 2 bathrooms. Each unit offers a spacious living room and a large kitchen. Full basement provides additional storage. Roof replaced in 2011. Great opportunity for investors or owner-occupants looking for a multi-unit property with generous living space.

7701 S Paulina Street, Chicago

5050 S East End Avenue Unit #14A, Chicago

$151,500

2 Beds ⋅ 1 Baths ⋅ 12794792 MLS ⋅ NEW Status

The Chippewa, one of Hyde Park's most desirable co-ops, is perfectly located within steps of public transportation and the 172 CTA bus. Perched on the top floor of one of Hyde Park's most prestigious co-op buildings, Unit 14A at 5050 S East End Avenue offers a lifestyle defined by perspective. This spacious two-bedroom, one-bathroom residence spans approximately 1,020 square feet, providing a generous layout where every corner feels intentional and airy. From this elevated vantage point, the city's energy meets the tranquility of the water. The home features breathtaking, unobstructed views of Lake Michigan and the lush greenery of the surrounding parkland, creating a living backdrop that shifts beautifully with the seasons. It is rare to find a home that so perfectly balances sophisticated high-floor living with such a substantial, welcoming footprint. The location is as impressive as the vistas. Situated just moments from the University of Chicago and offering seamless access to Lake Shore Drive, this residence places the very best of the city within easy reach. Whether you are drawn to the vibrant cultural heart of Hyde Park or the quiet beauty of the lakefront, Unit 14A serves as a refined retreat above it all. Experience the height of Chicago living in a home where the scale of the space is matched only by the scale of the view. Bring your vision to make some updated changes or leave the vintage feel and move right in! For more information or to schedule a private showing, please contact: listing agent, Liz Pilot. Shopping, dining, parks are all within easy walking distance. The monthly assessments includes everything -property taxes, utilities, cable/internet included in the HOA fees making this the best deal in Hyde Park. Unit is being sold AS IS.

5050 S East End Avenue Unit #14A, Chicago

$129,000

3 Beds ⋅ 1 Baths ⋅ 12804360 MLS ⋅ NEW Status

12222 S Peoria Street, Chicago

$149,900

4 Beds ⋅ 2 Baths ⋅ 12802997 MLS ⋅ NEW Status

Let's face it....this market has really been a challenge for some buyers when it comes to finding their own place and space in todays market. Coupled with low property taxes, this is the perfect opportunity to own. This very quaint hidden gem is ready for it's new owner. Perfect for a first time home buyer. Even though its a house, it gives you a condo/duplex feel. Few places offer an all-brick, four-bedroom, two-bath home at this price point without requiring some work. Or perhaps you are an investor looking for a great return on your investment. You could actually recoup your initial investment in a very short amount of time with tenants. Plenty of yard space for family gatherings......The possibilities are endless....come take a look! PERFECT FOR FIRST TIME HOME BUYERS AND INVESTORS sold as -is.. you won't be disappointed.

7204 S Rhodes Avenue, Chicago

3001 S Michigan Avenue Unit #2105, Chicago

$112,500

1 Beds ⋅ 1 Baths ⋅ 12804533 MLS ⋅ NEW Status

Excellent central location and brightest southwest tier in the building. Residence 2105 offers clear, unobstructed views, of the parks and green space, some historical buildings, cityscape and sunsets. Newer wide plank wood laminate throughout this open floor plan residence. Abundant storage space. large kitchen with combined dining space. Stainless gas range, dishwasher. Sumptuous living space for multiple seating areas or home office. Sizable bathroom adjacent the bedroom with raised vanity. Enjoy a 16' private, recessed balcony for entertaining and relaxing. Dual, thermal paned windows. Sundrenched. Brilliant sunsets. Additional storage locker. This building is ideally located with direct gated access to Michigan Avenue buses and is within walking distance to the lakefront, IIT, the School of Optometry, De La Salle Institute, Jewel-Osco, VanderCook College of Music, and more. Nearby amenities include grocery stores, Lake Meadows Shopping Center, Mercy Hospital, and Dunbar Park, offering tennis courts, a running track, baseball fields, and a playground. Plus, you'll have easy access to Lake Shore Drive and the expressways. The unit also comes with additional storage, and the building features a large, updated laundry room, on-site management, and a dedicated security staff for peace of mind. On-site maintenance staff is available for repairs, and the HOA covers pool access, heat, water, and gas, with low electric bills averaging just $30/month. Garage or exterior parking is available for rent, and there's also plenty of street parking in the community. Association has $1,873,680 in Reserves as of December 31, 2025.

3001 S Michigan Avenue Unit #2105, Chicago

$169,000

1 Beds ⋅ 1 Baths ⋅ 12802144 MLS ⋅ NEW Status

Bright, spacious, and beautifully updated, this Uptown one-bedroom condo offers the perfect combination of comfort, style, and convenience. Perched among the treetops, the home feels like a peaceful retreat while putting you right in the middle of everything the neighborhood has to offer. The thoughtfully updated kitchen features sleek gray cabinetry, quartzite countertops, and an open layout with breakfast bar seating for two. The expansive living area offers plenty of room to spread out, with flexible space for a dining area, home office, workout space, or whatever best suits your lifestyle. Added recessed lighting and the rich chocolate flooring create a warm, inviting feel throughout. The generously sized bedroom offers excellent closet space, complete with a custom Elfa closet system. The building offers additional storage, a bike room, and laundry facilities, plus an on-site garage. And the location is hard to beat: just moments from the lakefront trail, Margate Fieldhouse, Argyle Red Line station, and express bus service RIGHT outside your front door. Enjoy easy access to the best of Uptown, with neighborhood restaurants, shops, parks, and the lake all within reach.

4880 N Marine Drive Unit #509, Chicago

$110,000

3 Beds ⋅ 3 Baths ⋅ 12797655 MLS ⋅ NEW Status ⋅ Bronzeville BLDG.

Discover the potential and opportunity that come with this spacious 3-bedroom, 3-bathroom condominium overlooking scenic Washington Park. Whether you're looking to create a personalized home or add to your rental portfolio, this property offers an opportunity to build value in a desirable Chicago location. The front sunroom captures beautiful views of the park and opens to a spacious living room featuring a fireplace. Hardwood floors, in-unit laundry, and a functional three-bedroom, three-bathroom layout provide a great starting point for your vision and updates. The building offers a secure, gated entrance, while one assigned parking space in the gated private rear lot adds convenience. Enjoy an exceptional location just one block from the train station and steps from CTA bus stops, with easy access to the University of Chicago, Museum of Science and Industry, Bronzeville's vibrant art district, local dining, and Lake Michigan. Bring your ideas and explore the possibilities this property has to offer. Unit is being sold AS IS.

5140 S King Drive Unit #A1, Chicago

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Chicago Homes under $200,000

Newest Chicago Homes under $200,000

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