2 Days Ago
Location
503 Lake Ave, Downers Grove, IL 60515, USA
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Amenities for 503 Lake Ave
Apartment Amenities
| Central Air | Hardwood Floor |
| Natural Gas |
Appliances
| Dishwasher | In-Unit Laundry |
Building
| Exterior Type: Brick |
Grounds
| 2 Parking Spaces | Garage Parking |
| Outdoor Space | Storage |
Other
| Roof Type: Asphalt | Six Rooms |
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.
Policies and fees
Applicants
Applicants
One-time.
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REQUIRED FEES
Security Deposit
One-time. Refundable.
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About 503 Lake Ave
Property Status: Active Enjoy peaceful living in this solid brick ranch, perfectly situated on a quiet, no-outlet street in North Downers Grove. This well-maintained home features beautiful hardwood floors and classic six-panel oak interior doors. The functional layout includes a spacious living area with newer windows that provide plenty of natural light. The property offers plenty of storage and workspace between the full unfinished basement and the detached two-car garage. Outside, you'll find an expansive lot featuring a private backyard, a cement driveway, and a patio perfect for outdoor relaxation. Its prime location offers the best of both worlds-unmatched quiet while remaining close to schools, shopping, and dining. The tenant is responsible for all utilities, including gas, electric, water, and trash. Additionally, the tenant is responsible for all lawn maintenance and snow removal to keep the property in top condition. Office Phone: (708) 770-9455 Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How 503 Lake Ave compares to other nearby properties.
Positives
- High school nearby
- There is a high school 1 mile away
- Less expensive
- The 3-bedrooms are cheaper than other similar listings nearby
Address details
| Zip code | 60515 |
|---|---|
| Type | House for rent |
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Rent trends in Downers Grove
3-bedroom apartments at 503 Lake Ave cost about 14% less than the average rent price for 3-bedroom apartments in Downers Grove.
Median rents as of Jan 17 2026.
Downers Grove
| Month | Median Rent |
|---|---|
| February 2024 | $3,212 |
| March 2024 | $3,359 |
| April 2024 | $3,575 |
| May 2024 | $3,266 |
| June 2024 | $2,999 |
| July 2024 | $2,984 |
| August 2024 | $3,196 |
| September 2024 | $2,495 |
| October 2024 | $2,472 |
| November 2024 | $2,458 |
| December 2024 | $2,535 |
| January 2025 | $2,530 |
| February 2025 | $2,492 |
| March 2025 | $2,540 |
| April 2025 | $2,650 |
| May 2025 | $2,690 |
| June 2025 | $2,543 |
| July 2025 | $2,639 |
| August 2025 | $2,837 |
| September 2025 | $3,578 |
| October 2025 | $2,941 |
| November 2025 | $2,589 |
| December 2025 | $2,606 |
| January 2026 | $2,775 |
Affordability calculator
Can I afford to live at 503 Lake Ave?
Bedrooms
3 bedroomsRent-to-income ratio
30%
Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income
$100,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $100,000 annually to afford this 3-bedrooms monthly rent price of $2,500.
For more information on rent affordability, visit our rent calculator.
Schools near 503 Lake Ave
Lester Elementary School
236 indianapolis ave
downers grove, IL, 60515
PK, K-6Public
A-
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Internet available near 503 Lake Ave
Neighborhood
NEIGHBORHOOD VIBE
Peaceful and quiet
Noise-canceling headphones not required in this mostly noise free area.
Getting around Downers Grove near 503 Lake Ave
Walking
6/10
Grab your reusable bags–many shops and stores are within walking distance.
Driving
8/10
This area is close to freeways and has adequate parking options.
Cycling
4/10
More spots are within biking distance and some roads are cyclist-friendly.
Transit
2/10
There are a few mass transit options within the area.
Points of interest for 503 Lake Ave, Downers Grove
Groceries
8/10
At least one supermarket within a 10-minute walk
Shopping
5/10
Several shops within walking distance
Cafes
5/10
Some cafés within a few minutes’ walk
Restaurants
5/10
Some restaurants within a few minutes’ walk
Primary schools
8/10
At least one elementary school within a 10-minute walk
High schools
3/10
At least one high school within a 30-minute walk
Parks
6/10
Large amount of park space nearby
Nightlife
3/10
Some bars within walking distance
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