The below image basically explains the entire problem. It's a screenshot of the debug menu while I am sprint jumping.

The video settings are: Render Distance 2, Fast Graphics, Disabled Smooth Lighting, VSync Off, Mipmap Levels Off, Clouds Off, 100fps Framerate, Entity Shadows Off

Not that it makes a difference. I tried every combination of these settings I could think of with no effect on loading new chunks. Also tried using different jvm arguments with no effect.

You can see the specs from the debug menu, but for reference this computer gets a good 50-60fps on Cities: Skylines high graphics, and other games.