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For convenience to UIC and in your price range, Oak Park/Forest Park and Wicker Park. Oak Park and Forest Park both have some new construction condos near the blue line which you can probably be rented out. Don't know about Wicker Park, I think its mostly vintage stuff in your price range. Beyond Wicker Park, the commute gets longer and the neighborhood gets less nice.
Realistically, in your price range, you're not going to find luxury new construction apt/condos in the city. You probably won't find them in Oak Park or Forest Park either. Prices get a bit lower the further out you live, but then you have to suffer through a long commute which isn't cheap either. You're probably going to have to compromise on either the price point, the commute, or the quality of housing. Welcome to Chicago.
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