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Chicago, IL New Homes Under $400K

44 Communities

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Check out our top recommendations

Liberty Trails by Gerstad Builders in Chicago Illinois
Home in Liberty Trails by Gerstad Builders
Home in Liberty Trails by Gerstad Builders

$325,490 - $490,990

Liberty Trails

McHenry, IL 60051

12 Floor Plans

Gerstad Builders

Becketts Landing by M/I Homes in Chicago Illinois
Home in Becketts Landing by M/I Homes
Home in Becketts Landing by M/I Homes

$386,490 - $592,190

Becketts Landing

South Elgin, IL 60177

1 Home

13 Floor Plans

Hot Deal

M/I Homes

Townes at Sawgrass by Pulte Homes in Chicago Illinois
Home in Townes at Sawgrass by Pulte Homes
Home in Townes at Sawgrass by Pulte Homes

Grand Opening

$420,990 - $500,910

Townes at Sawgrass

Bolingbrook, IL 60490

1 Home

2 Floor Plans

Pulte Homes

3.8

Lincoln Prairie by Del Webb by Del Webb in Chicago Illinois
Home in Lincoln Prairie by Del Webb by Del Webb
Home in Lincoln Prairie by Del Webb by Del Webb

$380,990 - $644,561

Lincoln Prairie by Del Webb

Aurora, IL 60503

10 Floor Plans

Hot Deal

Del Webb

4.1

Brookside Meadows by M/I Homes in Chicago Illinois
Home in Brookside Meadows by M/I Homes
Home in Brookside Meadows by M/I Homes
$15,120

$299,990 - $429,300

Brookside Meadows

Marengo, IL 60152

1 Home

10 Floor Plans

Hot Deal

M/I Homes

Ashcroft Place by West Point Builders in Chicago Illinois
Home in Ashcroft Place by West Point Builders
Home in Ashcroft Place by West Point Builders

$399,990 - $497,990

Ashcroft Place

Oswego, IL 60543

11 Floor Plans

West Point Builders

Chelsea Manor by M/I Homes in Chicago Illinois
Home in Chelsea Manor by M/I Homes
Home in Chelsea Manor by M/I Homes

$333,490 - $549,990

Chelsea Manor

Aurora, IL 60504

2 Homes

9 Floor Plans

Hot Deal

M/I Homes

Darby Farm by M/I Homes in Chicago Illinois
Home in Darby Farm by M/I Homes
Home in Darby Farm by M/I Homes

$415,990 - $498,670

Darby Farm

New Lenox, IL 60451

6 Floor Plans

Hot Deal

M/I Homes

Savannah by William Ryan Homes in Chicago Illinois
Home in Savannah by William Ryan Homes
Home in Savannah by William Ryan Homes
$25,000

$419,990 - $519,990

Savannah

Lakemoor, IL 60051

2 Homes

William Ryan Homes

Grande Reserve by Meadowbrook Builders in Chicago Illinois
Home in Grande Reserve by Meadowbrook Builders
Home in Grande Reserve by Meadowbrook Builders

Grand Opening

$409,990 - $469,990

Grande Reserve

Yorkville, IL 60560

9 Floor Plans

Meadowbrook Builders

Piper Glen by M/I Homes in Chicago Illinois
Home in Piper Glen by M/I Homes
Home in Piper Glen by M/I Homes

$349,990 - $728,840

Piper Glen

Oswego, IL 60543

16 Floor Plans

M/I Homes

Caledonia by Lennar in Chicago Illinois
Home in Caledonia by Lennar
Home in Caledonia by Lennar
$9,285

$357,990 - $467,900

Caledonia

Yorkville, IL 60560

8 Floor Plans

Lennar

4.0

Chestnut Grove by Finney Homes LLC in Chicago Illinois
Home in Chestnut Grove by Finney Homes LLC
Home in Chestnut Grove by Finney Homes LLC

$279,900 - $339,900

Chestnut Grove

Cortland, IL 60112

2 Homes

Finney Homes LLC

The Townes at Becketts by M/I Homes in Chicago Illinois
Home in The Townes at Becketts by M/I Homes
Home in The Townes at Becketts by M/I Homes

$291,990 - $364,290

The Townes at Becketts

South Elgin, IL 60177

1 Home

4 Floor Plans

Hot Deal

M/I Homes

Talamore - Andare by Lennar in Chicago Illinois
Home in Talamore - Andare by Lennar
Home in Talamore - Andare by Lennar

Coming Soon

$363,990 - $429,900

Talamore - Andare

Huntley, IL 60142

4 Floor Plans

Lennar

4.0

Woodlore Townes by Lennar in Chicago Illinois
Home in Woodlore Townes by Lennar
Home in Woodlore Townes by Lennar

$334,990 - $375,160

Woodlore Townes

Crystal Lake, IL 60012

3 Floor Plans

Lennar

4.0

Metro East by M/I Homes in Chicago Illinois
Home in Metro East by M/I Homes
Home in Metro East by M/I Homes

$326,990 - $439,910

Metro East

Orland Park, IL 60462

2 Floor Plans

Hot Deal

M/I Homes

Trails of Woods Creek by Pulte Homes in Chicago Illinois
Home in Trails of Woods Creek by Pulte Homes
Home in Trails of Woods Creek by Pulte Homes

$425,990 - $488,990

Trails of Woods Creek

Algonquin, IL 60102

6 Floor Plans

Pulte Homes

3.8

Fox Pointe by Lennar in Chicago Illinois
Home in Fox Pointe by Lennar
Home in Fox Pointe by Lennar
$11,360

$401,990 - $519,900

Fox Pointe

Elburn, IL 60119

8 Floor Plans

Lennar

4.0

Liberty Meadows by Lennar in Chicago Illinois
Home in Liberty Meadows by Lennar
Home in Liberty Meadows by Lennar
Up to $19,610

$423,900 - $466,900

Liberty Meadows

Aurora, IL 60502

3 Floor Plans

Lennar

4.0

Halston Market by M/I Homes in Chicago Illinois
Home in Halston Market by M/I Homes
Home in Halston Market by M/I Homes

$378,490 - $472,220

Halston Market

Des Plaines, IL 60018

5 Floor Plans

Hot Deal

M/I Homes

Talamore - Townhomes by Lennar in Chicago Illinois
Home in Talamore - Townhomes by Lennar
Home in Talamore - Townhomes by Lennar

Coming Soon

$339,990 - $374,100

Talamore - Townhomes

Huntley, IL 60142

3 Floor Plans

Lennar

4.0

Briargate by Pulte Homes in Chicago Illinois
Home in Briargate by Pulte Homes
Home in Briargate by Pulte Homes

$309,990 - $469,597

Briargate

Lindenhurst, IL 60046

1 Home

7 Floor Plans

Pulte Homes

3.8

Fieldstone by M/I Homes in Chicago Illinois
Home in Fieldstone by M/I Homes
Home in Fieldstone by M/I Homes
Up to $30,130

$424,990 - $665,250

Fieldstone

Huntley, IL 60142

9 Floor Plans

M/I Homes

Park Pointe - Urban Townhomes by Lennar in Chicago Illinois
Home in Park Pointe - Urban Townhomes by Lennar
Home in Park Pointe - Urban Townhomes by Lennar

$345,400 - $370,990

Park Pointe - Urban Townhomes

South Elgin, IL 60177

4 Floor Plans

Lennar

4.0

Bronk Farm by Pulte Homes in Chicago Illinois
Home in Bronk Farm by Pulte Homes
Home in Bronk Farm by Pulte Homes

$384,990 - $696,990

Bronk Farm

Plainfield, IL 60585

2 Homes

17 Floor Plans

Pulte Homes

3.8

Tamms Farm by Lennar in Chicago Illinois
Home in Tamms Farm by Lennar
Home in Tamms Farm by Lennar
Up to $15,165

$363,990 - $529,515

Tamms Farm

Hampshire, IL 60140

11 Floor Plans

Lennar

4.0

Ashford Place by D.R. Horton in Chicago Illinois
Ashford Place by D.R. Horton in Chicago Illinois

$399,990 - $484,990

Ashford Place

Plainfield, IL 60586

D.R. Horton

The Townes at Oak Creek by D.R. Horton in Chicago Illinois
The Townes at Oak Creek by D.R. Horton in Chicago Illinois

$379,990 - $434,990

The Townes at Oak Creek

Mundelein, IL 60060

D.R. Horton

Elburn by Shodeen Homes in Chicago Illinois
Elburn by Shodeen Homes in Chicago Illinois

$339,100 - $470,600

Elburn

Elburn, IL 60119

19 Floor Plans

Shodeen Homes

NatureÆs Crossing by Silverthorne Homes in Chicago Illinois
NatureÆs Crossing by Silverthorne Homes in Chicago Illinois

$234,900 - $290,400

NatureÆs Crossing

Cortland, IL 60112

7 Floor Plans

Silverthorne Homes

Playa Vista by D.R. Horton in Chicago Illinois
Playa Vista by D.R. Horton in Chicago Illinois

$409,990 - $445,990

Playa Vista

Plainfield, IL 60544

D.R. Horton

Charlestowne Lakes by D.R. Horton in Chicago Illinois
Charlestowne Lakes by D.R. Horton in Chicago Illinois

$359,990 - $464,990

Charlestowne Lakes

Saint Charles, IL 60174

D.R. Horton

Cambridge Lakes North Ranch Townhomes by D.R. Horton in Chicago Illinois
Cambridge Lakes North Ranch Townhomes by D.R. Horton in Chicago Illinois

$304,990 - $329,990

Cambridge Lakes North Ranch Townhomes

Pingree Grove, IL 60140

D.R. Horton

Lincoln Valley Ranch Duplexes by D.R. Horton in Chicago Illinois
Lincoln Valley Ranch Duplexes by D.R. Horton in Chicago Illinois

$389,990 - $399,990

Lincoln Valley Ranch Duplexes

North Aurora, IL 60542

D.R. Horton

Stonewater Ranch Townhomes by D.R. Horton in Chicago Illinois
Stonewater Ranch Townhomes by D.R. Horton in Chicago Illinois

$272,990 - $284,990

Stonewater Ranch Townhomes

Wonder Lake, IL 60097

D.R. Horton

Cambridge Lakes North Ranch Single Family by D.R. Horton in Chicago Illinois
Cambridge Lakes North Ranch Single Family by D.R. Horton in Chicago Illinois

$389,990 - $420,990

Cambridge Lakes North Ranch Single Family

Pingree Grove, IL 60140

D.R. Horton

Cedar Creek by D.R. Horton in Chicago Illinois
Cedar Creek by D.R. Horton in Chicago Illinois

$389,990

Cedar Creek

Joliet, IL 60436

D.R. Horton

Stonewater Traditional Single Family by D.R. Horton in Chicago Illinois
Stonewater Traditional Single Family by D.R. Horton in Chicago Illinois

$359,990 - $429,990

Stonewater Traditional Single Family

Wonder Lake, IL 60097

D.R. Horton

The Grasslands Freedom Ranch Homes by D.R. Horton in Chicago Illinois
The Grasslands Freedom Ranch Homes by D.R. Horton in Chicago Illinois

$399,990 - $493,990

The Grasslands Freedom Ranch Homes

Bartlett, IL 60103

D.R. Horton

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Market Snapshot

New Homes in Chicago by Region

RegionCommunitiesAverage New Home Price
Downtown Chicago 5$2,788,000
North Chicago 2$452,000
Northwest Chicago 6$252,000
South Chicago 8$224,000
Southwest Chicago 48$542,000

New Home Cities in Chicago

CityCommunitiesAverage New Home Price
Plainfield8$547,615
Elgin5$503,080
South Elgin5$441,409
Aurora4$451,936
Huntley4$456,740
Naperville3$564,127
Oswego3$449,166
Algonquin2$482,573
Bolingbrook2$593,444
Crystal Lake2$491,762
Lemont2$531,906
New Lenox2$483,990

Chicago, IL features many of the best home builder communities in Illinois, but finding lower priced homes has become increasingly difficult. In the last few years, the cost of building a new home in Chicago has increased substantially. Despite the rising trend of housing prices, it’s still possible to design and build an affordable home in the Chicago area. In fact, there are 44 communities and 15 builders in Chicago with homes starting at under $400K.

How to Find Homes in Chicago for Less than $400K?

Many builders recognize there is growing demand in the Chicago area for homes under the $400k price point and often have a few floor plans available, but these may be in limited supply. These brand new homes are relatively affordable. To ensure affordability without compromising on the quality of the home, builders may utilize value engineering techniques to reduce the cost of construction and keep the price of the home as low as possible. This may include building on a smaller lot or utilizing standard-sized materials, such as windows and doors, that provide high-value for the cost. The results are delivering similar quality at lower prices. Like any new home, you are likely to have the low maintenance and lower cost of ownership that makes new construciton a good value in Chicago.