550 Sheridan Square Apartments: Renters Insurance Guide & What It Actually Costs

Last updated Apr 16, 2026

Thinking about renting at 550 Sheridan Square Apartments in Evanston? Rent here runs $4,400 – $4,500, and renters insurance adds about $17/mo. Below we break down which carriers are cheapest for this building and what the lease actually requires.

Get Renters Insurance for 550 Sheridan Square Apartments

Compare renters insurance quotes in seconds

550 Sheridan Sq, Evanston, IL 60202

Evanston

Built 1968 5 stories 37 units
5/5 ·1 review Google
2 reviews Apt. Finder
$4,400 – $4,500 /month

Monthly Cost Breakdown at 550 Sheridan Square Apartments

The listed rent isn't the whole number. Here's what 550 Sheridan Square Apartments actually costs each month once you add required fees and insurance.

Total Monthly Cost $4,417 – $4,517
Base Rent $4,400 – $4,500
Est. Renters Insurance $17/mo

Renters Insurance at 550 Sheridan Square Apartments

What Affects Your Premium Here

Every building is different. These factors specific to 550 Sheridan Square Apartments can push your insurance cost up or down:

Older Building

Built in 1968 — older plumbing/electrical may increase risk

Controlled Access

Electronic/key fob entry — reduces unauthorized entry risk

FEMA Flood Zone

Zone X — minimal flood risk

FBI UCR

Property crime rate: 2404/100K (52% above national average)

What You'll Likely Pay

$17

Est. Monthly

$206

Est. Annual

$16

With Discounts/mo

$15

State Avg/mo

How Much Coverage Makes Sense

Renters insurance has two main pieces: personal property coverage, which pays to replace your belongings if they're stolen or damaged (think furniture, electronics, clothes), and liability coverage, which protects you if someone gets hurt in your unit or you accidentally damage someone else's property. Here's what we'd recommend for 550 Sheridan Square Apartments based on the rent level and building features.

Personal Property

What your stuff is worth

$75,000 recommended

If you own less

$50,000

If you own more

$100,000

Liability

Covers accidental harm & lawsuits

$100,000 recommended

Standard minimum for most lease requirements in Illinois

How Carriers Compare for This Area

Not all carriers price the same zip code equally. Here's how the major options stack up near 550 Sheridan Square Apartments:

Carrier Monthly Annual
Lemonade $9/mo $108/yr
USAA $10/mo $122/yr
State Farm $14/mo $162/yr
Progressive $15/mo $176/yr
Safeco $15/mo $176/yr
Travelers $16/mo $189/yr
Allstate $17/mo $203/yr
Nationwide $17/mo $203/yr
Farmers $18/mo $216/yr
Liberty Mutual $20/mo $243/yr

Discounts You May Qualify For

Controlled access
-3%
Sprinkler system
-5%
Claims-free (if applicable)
-10%
Pay-in-full annual
-7%
Paperless/autopay
-3%
Multi-policy bundle
-10%

Next Step

See if you can beat $16/mo

6 discounts may apply here. Real quotes show your actual price — estimates can't.

Compare Quotes Free · No account required

Property Crime & Theft Risk

Renters insurance pricing is driven by property crime — theft, burglary, and vehicle break-ins — not violent crime. Here's what the FBI's Uniform Crime Reporting data shows for Evanston.

Evanston property crime rate

2,404

per 100K residents

52% above U.S. avg

U.S. avg is 1,578 per 100K

Breakdown per 100K residents

Burglary
351 / 200
Larceny / theft
1,874 / 1,172
Vehicle theft
179 / 206

U.S. average

Higher-than-average property crime is why insurance carriers charge more in this zip code — your premium reflects the claims frequency for the area. 550 Sheridan Square Apartments also has on-site security features (Controlled access, Sprinklers, Covered parking) that insurers recognize with discounts.

Source: FBI UCR Program, Evanston (2024-12 to 2025-11)

On-Site Security

Controlled access Sprinklers Covered parking

Flood Risk

Standard renters insurance does not cover flood damage. FEMA maps every property into a flood zone — here's what that means for 550 Sheridan Square Apartments.

FEMA Zone X (Area Of Minimal Flood Hazard) — Minimal flood risk

Flood insurance optional but inexpensive in this zone.

Flood zone data from FEMA National Flood Hazard Layer (NFHL). Zones can change — verify at FEMA Flood Map Service.

Fees Beyond Rent

These are the additional charges beyond base rent at 550 Sheridan Square Apartments. Some are monthly, some are one-time — all of them affect your actual cost of living here.

Required Fees

Application Fee Per Applicant

$50 per applicant, $75 for couples and $25 if cosigner needed. Charged per applicant.

$50

Administrative Fee

Charged per unit.

Pets Fees

One-Time Pet Fee

Max of 2. Charged per pet.

Free

Pet Deposit

Max of 2. Charged per pet.

Free

Monthly Pet Fee

Max of 2. Charged per pet.

$50 / mo

Parking Fees

Parking Fee

Max of 20. Charged per vehicle.

$250 - $255 / mo

Parking Fee

Max of 22. Charged per vehicle.

$100 - $110 / mo

Amenities

Community Features

Maintenance on site 24 Hour Access Recycling Pet Play Area Car Charging Station Public Transportation Key Fob Entry Elevator Storage Space Roof Terrace Sundeck Grill Waterfront Fitness Center

Floor Plan Amenities

Wi-Fi Washer/Dryer Air Conditioning Heating Smoke Free Cable Ready Storage Space Tub/Shower Intercom Sprinkler System Dishwasher Disposal Stainless Steel Appliances Pantry Island Kitchen Kitchen Microwave Oven Range Refrigerator Quartz Countertops Tile Floors Vinyl Flooring Dining Room Walk-In Closets Window Coverings Large Bedrooms Balcony Patio

Pet Policy

Bringing a pet? Here's what 550 Sheridan Square Apartments allows. Standard renters insurance typically covers pet-related incidents, so you usually won't need any add-on coverage for a cat.

Other Pets Allowed
$50 Monthly Pet Rent
2 Pet Limit

About 550 Sheridan Square Apartments

Year Built: 1968
Stories: 5 stories
Units: 37
Phone: (224) 505-2151

From the property listing:

WELCOME TO 550 SHERIDAN SQUARE When you call 550 Sheridan Square Apartments home, you'll find yourself in Evanston's premier lakefront apartment community, directly adjacent to Lake Michigan with beach access right outside your door. Our newly remodeled apartment community is the perfect place to call home for those looking to live in the best location Evanston has to offer.

Other Options Nearby

Still weighing your choices? These communities are in the same part of Evanston — compare rent and estimated insurance cost side by side.

415 PREMIER APARTMENTS

Evanston

$1,761 - $2,506 Ins: ~$15/mo

910 Judson Apartments

Evanston

$1,995 Ins: ~$17/mo

AMLI Evanston Apartments

Evanston

$2,344 - $4,145 Ins: ~$15/mo

Brummel 623-631 Evanston Apartments

Evanston

$1,501 Ins: ~$16/mo

Cheltenham Court Mansions Apartments

Evanston

$3,395 Ins: ~$17/mo

Main Station Apartments

Evanston

$1,366 - $2,624 Ins: ~$17/mo

Frequently Asked Questions

Does 550 Sheridan Square Apartments require renters insurance?
We didn't find a public insurance requirement for 550 Sheridan Square Apartments, but that doesn't mean there isn't one. Many communities add the requirement during lease signing. It's worth asking the leasing office directly — and even if it's not required, a policy typically runs under $20/month and covers you against theft, fire, and liability.
How much is renters insurance at 550 Sheridan Square Apartments?
For this zip code and building type, expect to pay around $17/month ($206/year). 550 Sheridan Square Apartments has security features that qualify for discounts — with those applied, you could pay as little as $16/month. For context, the statewide average is $15/month, so this building is above average.
What will I actually pay per month at 550 Sheridan Square Apartments?
Plan for $4,417 to $4,517/month all-in. That's base rent ($4,400 – $4,500), plus roughly $17/month for renters insurance. Most apartment listing sites don't include those last two — so the sticker price can be misleading.
Does 550 Sheridan Square Apartments allow pets?
Yes, 550 Sheridan Square Apartments is pet-friendly. Here are the details: Other Pets Allowed. $50 Monthly Pet Rent. 2 Pet Limit. Standard renters insurance covers pet-related liability at no extra cost.
How safe is the area around 550 Sheridan Square Apartments?
Property crime in Evanston runs noticeably higher than the national average — 2,404 incidents per 100,000 residents versus the U.S. average of 1,578. That's the metric insurance carriers care about most for renters coverage, since property crime (theft, burglary, vehicle break-ins) drives most claims. Burglary specifically is 351/100K here. On the property itself, you'll find controlled access, sprinklers, covered parking — features that can qualify for premium discounts.
What floor plans does 550 Sheridan Square Apartments offer?
There is 1 floor plan available, a 2-bedroom layout. Rent ranges from $4,400 – $4,500. Your unit size can affect your insurance cost too — a larger unit typically means more belongings to cover.

Get Renters Insurance for 550 Sheridan Square Apartments

See how much you could save on renters insurance

Disclaimer

The information on this page — including rent prices, fees, floor plans, amenities, insurance requirements, and safety data — is collected from publicly available sources and may not reflect the most current details. Apartment communities may update their offerings, policies, and pricing at any time. Always confirm details directly with the leasing office or the community's official website before making any decisions.

SafeButler Inc. strives to ensure that the information on this site is up to date, but we will not be held liable for any delays, inaccuracies, errors, or omissions. This site and all materials contained on it are distributed and provided "as is" and "as available" for use. SafeButler.com makes no representations or warranties of any kind, express or implied, as to the operation of this site or to the information, content, materials, or products included on this site. You expressly agree that your use of this site is at your sole risk.

Your privacy

We use cookies to run this site, measure how it's used, and support our advertising. See our Privacy Policy for details.