Hey guys - I did my undergrad at UofC, here's a website that might be helpful:
http://marketplace.uchicago.edu - this is how I found my apartments, also good for furniture and odds and ends.
Closer than downtown or the north side, but I'm not aware of IIT students and UofC students sharing apartments. If you're willing to do the commute, you can basically live anywhere in the city. I know some people would rather live north than south, which can be a commute of around an hour, if not more, depending where you are.
Feel free to message me with logistical questions! Congrats all!