Cheap Apartments for Rent in the Chicago Loop Neighborhood of Chicago, IL from $1,000 (42 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Chicago Loop area of Chicago.

property at 188 N Wells St

188 N Wells St

ChicagoIL60606

Chicago's Best Affordable Neighborhoods

Learn about Chicago and the best places to live with original content written by our Chicago, IL Local Expert Nicole Harms

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property at 469 E Ohio St

469 E Ohio St

ChicagoIL60611
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25 W Hubbard St
1 Bedroom Apartments

25 W Hubbard St

25 W Hubbard StChicago, IL 60654
  • Utilities Included
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525 S. Dearborn St.
Studio to 2 Bedroom Apartments

525 S. Dearborn St.

525-537 S Dearborn StChicago, IL 60605
  • Utilities Included
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211 E. Ohio St.
Studio to 2 Bedroom Apartments

211 E. Ohio St.

205-215 E Ohio StChicago, IL 60611
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55 E Erie St
Studio to 3 Bedroom Apartments

55 E Erie St

55 E Erie StChicago, IL 60611
  • Smoke Free
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600 N Lake Shore Dr
Studio to 2 Bedroom Apartments

600 N Lake Shore Dr

600 N Lake Shore DrChicago, IL 60611
Furnished
  • Utilities Included
  • Smoke Free
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Luxury condo unit
Studio to 3 Bedroom Apartments

Luxury condo unit

333 N CanalChicago, IL 60606
Corporate Housing
  • Smoke Free
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Columbus Plaza
1 to 2 Bedroom Apartments

Columbus Plaza

233 E Wacker DrChicago, IL 60601
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180 W. Adams
1 Bedroom Apartments

180 W. Adams

180 W Adams StChicago, IL 60603
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200 N Dearborn St
Studio to 2 Bedroom Apartments

200 N Dearborn St

200 N Dearborn StChicago, IL 60601
  • Utilities Included
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900 S Clark St
Studio to 3 Bedroom Apartments

900 S Clark St

900 S Clark StChicago, IL 60605
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153 W Ohio St
Studio to 3 Bedroom Apartments

153 W Ohio St

153 W Ohio StChicago, IL 60654
  • Utilities Included
Showing Results 1-42, Page 1 of 1

Chicago Loop, Chicago, IL Local Guide

Cheapest Available Chicago Loop Apartments for Rent

 

The cheapest available apartment rental in the Chicago Loop area of Chicago, IL is a Studio unit found at Pittsfield Apartments priced from $1,495. Gramercy Row Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,726. Here are the most affordable Chicago Loop apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Pittsfield ApartmentsStudio - Style HStudio,1BA$1,495
Gramercy Row Apartments1 Bedroom Floor Plan A3 672 2F1BR,1BA$1,726
820 Michigan by 3L LivingStudio NorthStudio,1BA$1,729
The Elle Apartments466Studio,1BA$1,745
MDA ApartmentsS8NStudio,1BA$1,750
Columbus PlazaConvertible1BR,1BA$1,764
330 S. Wells St04 Tier StudioStudio,1BA$1,795

Best Value Apartments for Rent in Chicago Loop, IL

As of April 11, 2025 the best value apartment in the Chicago Loop area is the $2.47 price per square foot 2 Bedroom Model at Lofts At River East in the in the Magnificent Mile neighborhood starting from $3,685. The second greatest value Chicago Loop apartment is the 2141 W Superior St Model at 2141 W Superior St, Unit G06C starting at $2,500 with a $1.79 price per square foot in the Chicago Loop neighborhood. Here is today’s list of the best values for Chicago Loop apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Lofts At River East2 Bedroom2BR,2BA$2.47
2141 W Superior St, Unit G06C2141 W Superior St3BR,1BA$1.79
750 N Rush St, Unit FL22-ID160750 N Rush St2BR,2BA$1.83
680 S Federal St, Unit Apt 808680 S Federal St1BR,1BA$2.25
10 E. Ontario St.1 Bedroom1BR,1BA$2.11
Axis Apartments and LoftsOne Bedroom1BR,1BA$2.42
343 S Dearborn St, Unit FL16-ID318343 S Dearborn St2BR,2BA$1.97
440 N. Wabash Ave.1 Bedroom - 1 Bathroom1BR,1BA$2.53
50 W Randolph St, Unit 90550 W Randolph St1BR,1BA$2.62
777 South StateOne Bedroom1BR,1BA$2.57

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Chicago Loop, Chicago, IL

Ranked #9

Among neighborhoods in Chicago, IL for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving.com works hard to bring you our detailed rental search system called 'Lifestyle ratings', composed of neighborhoods, cities and towns, and rental properties across Illinois, including Chicago. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including filtering automatically for outdoor amenities like tennis courts, luxury housing options, kid and pet-friendly communities, availability of transit options, walking, and biking. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Getting Around the Chicago Loop Neighborhood in Chicago, IL

Walk Score®

100 / 100

Walker’s Paradise

Daily errands do not require a car

Bike Score®

81 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

100 / 100

Rider’s Paradise

World-class public transportation

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Chicago Loop Apartments

What is a cheap apartment in Chicago Loop?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Chicago Loop is under $1,795.

What is the price of a cheap apartment in Chicago Loop?

The cheapest apartment in Chicago Loop is Gramercy Row Apartments which is listed at $1,726, while the average apartment in Chicago Loop costs $6,500.

What types of apartments are the cheapest in Chicago Loop?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 88 regular apartments in Chicago Loop that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Chicago Loop?

Cheap apartments in Chicago Loop have an average cost of $548 which is $5,952 cheaper than the average rent for all rentals in Chicago Loop.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago article

A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago

Written by: Nicole Harms

I’m Nicole, your ApartmentHomeLiving.com Local Expert for Chicago, IL. As a resident of the Chicago area for over 20 years, I’ve learned which neighborhoods are great and which are best avoided.

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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.