
Cheap Apartments for Rent in the Chicago Loop Neighborhood of Chicago, IL from $1,000 (60 Rentals)
Search the lowest-cost Apartments available for rent right now in the Chicago Loop area of Chicago.


Gramercy Row Apartments

Pittsfield Apartments

188 N Wells St

Fisher Building Apartments

MDA Apartments

203 N Wabash Ave, Unit 1905

411 W Chicago Ave, Unit FL4-ID1029

820 Michigan by 3L Living
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

215 W Lake St

105 W Chicago Ave

1125 N La Salle Dr, Unit 1

The Alfred

110 W Chicago Ave, Unit S

Arrive Streeterville

330 S. Wells St

311 W Illinois St, Unit FL15-ID825

420 E Ohio St

Axis Apartments and Lofts

Lake and Wells

1140 S Wabash Ave, Unit 1311

Hugo River North

The Elle Apartments

The Regal Apartments

North Harbor Tower

Millennium Park Plaza

River City Apartments

351 W Illinois St

Lake Shore Plaza

800 N Wells St

1000 South Clark

The Grand Central

215 West Apartments

The Bush Temple

1020 S State St

320 N. Michigan

411 W Chicago Ave

420 E Ohio

Millennium on LaSalle

77 W Huron St

Cityfront Place
Chicago Loop, Chicago, IL Local Guide

How much does it cost to rent an apartment in Chicago Loop?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Chicago Loop Studio Apartments | $2,666 | $1,147 | $7,221 |
Chicago Loop 1 Bedroom Apartments | $3,389 | $1,629 | $9,022 |
Chicago Loop 2 Bedroom Apartments | $5,116 | $1,894 | $10,000+ |
Chicago Loop 3 Bedroom Apartments | $8,198 | $1,858 | $10,000+ |
Chicago Loop 4 Bedroom Apartments | $5,298 | $1,658 | $10,000+ |
Browse Apartments in this Neighborhood
There are currently 60 rentals with your search options within a 1 mile radius of the Chicago Loop Neighborhood of Chicago, IL.
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Chicago Loop, Chicago, IL Local Guide
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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 Gramercy Row Apartments priced from $1,238. MDA Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,640. Here are the most affordable Chicago Loop apartments for rent in Chicago, IL:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Gramercy Row Apartments | Studio Floor Plan S21 666 2F | Studio,1BA | $1,238 |
MDA Apartments | S6NM | Studio,1BA | $1,640 |
Columbus Plaza | Studio | Studio,1BA | $1,676 |
Fisher Building Apartments | A1 | 1BR,1BA | $1,715 |
The Alfred | A3 | Studio,1BA | $1,750 |
Arrive Streeterville | 09 Studio | Studio,1BA | $1,760 |
Best Value Apartments for Rent in Chicago Loop, IL
As of March 29, 2025 the best value apartment in the Chicago Loop area is the $2.85 price per square foot 800 S Clark St Model at 800 S Clark St, Unit 2 in the in the South Loop neighborhood starting from $3,533. The second greatest value Chicago Loop apartment is the 2 Bed 2 Bath B4 Model at Wells Place Apartments starting at $2,945 with a $2.60 price per square foot in the Near South Side neighborhood. Here is today’s list of the best values for Chicago Loop apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
800 S Clark St, Unit 2 | 800 S Clark St | 2BR,2BA | $2.85 |
Wells Place Apartments | 2 Bed 2 Bath B4 | 2BR,2BA | $2.60 |
1135 S Delano Ct E, Unit W715 | 1135 S Delano Ct E | 2BR,2BA | $2.75 |
10 E. Ontario St. | 1 Bedroom | 1BR,1BA | $2.11 |
440 N. Wabash Ave. | 1 Bedroom - 1 Bathroom | 1BR,1BA | $2.53 |
50 W Randolph St, Unit 905 | 50 W Randolph St | 1BR,1BA | $2.62 |
30 E Huron St, Unit Apt 4601 | 30 E Huron St | 1BR,1BA | $2.86 |
777 South State | One Bedroom | 1BR,1BA | $2.52 |
Lake Shore Plaza | One Bedroom | 1BR,1BA | $2.74 |
1140 S Wabash Ave, Unit 1311 | 1140 S Wabash Ave | Studio ,1BA | $2.59 |
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.
Pet Friendly LifestyleChicago Loop, Chicago, IL
Ranked #6
Among neighborhoods in Chicago, IL for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
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 $1,760.
What is the price of a cheap apartment in Chicago Loop?
The cheapest apartment in Chicago Loop is Fisher Building Apartments which is listed at $1,715, while the average apartment in Chicago Loop costs $6,385.
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 56 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 $881 which is $5,504 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.

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.

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.

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.

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.