Here's a generator that yields evenly-sized chunks:

def chunks(lst, n):
    """Yield successive n-sized chunks from lst."""
    for i in range(0, len(lst), n):
        yield lst[i:i + n]

import pprint
pprint.pprint(list(chunks(range(10, 75), 10)))
[[10, 11, 12, 13, 14, 15, 16, 17, 18, 19],
 [20, 21, 22, 23, 24, 25, 26, 27, 28, 29],
 [30, 31, 32, 33, 34, 35, 36, 37, 38, 39],
 [40, 41, 42, 43, 44, 45, 46, 47, 48, 49],
 [50, 51, 52, 53, 54, 55, 56, 57, 58, 59],
 [60, 61, 62, 63, 64, 65, 66, 67, 68, 69],
 [70, 71, 72, 73, 74]]

For Python 2, using xrange instead of range:

def chunks(lst, n):
    """Yield successive n-sized chunks from lst."""
    for i in xrange(0, len(lst), n):
        yield lst[i:i + n]

Below is a list comprehension one-liner. The method above is preferable, though, since using named functions makes code easier to understand. For Python 3:

[lst[i:i + n] for i in range(0, len(lst), n)]

For Python 2:

[lst[i:i + n] for i in xrange(0, len(lst), n)]

Maybe I'm missing something, but why don't you just use read()'s size argument?

To read a file’s contents, call f.read(size), which reads some quantity of data and returns it as a string (in text mode) or bytes object (in binary mode). size is an optional numeric argument. When size is omitted or negative, the entire contents of the file will be read and returned; it’s your problem if the file is twice as large as your machine’s memory. Otherwise, at most size bytes are read and returned.

chunksize = 1000
with open('hugefile.log', 'r') as f:
    while True:
        read_data = f.read(chunksize)
        if not read_data:
            break # done
        print(read_data)