Cheap Apartments for Rent in the Chicago Loop Neighborhood of Chicago, IL from $1,000 (69 Rentals)

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

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 100 W Erie St

100 W Erie St

ChicagoIL60654
property at 188 N Wells St

188 N Wells St

ChicagoIL60606
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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 Gramercy Row Apartments priced from $1,256. Pittsfield Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,550. Here are the most affordable Chicago Loop apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Gramercy Row ApartmentsStudio Floor Plan S16Studio,1BA$1,256
Pittsfield ApartmentsStudio - Style GStudio,1BA$1,550
Fisher Building ApartmentsS1Studio,1BA$1,625
ImprintLoft Studio AStudio,1BA$1,657
Marina CityStudioStudio,1BA$1,700
ELEVEN THIRTYTier 6/12 (Studio)Studio,1BA$1,715
Columbus PlazaConvertible1BR,1BA$1,731

Best Value Apartments for Rent in Chicago Loop, IL

As of March 12, 2025 the best value apartment in the Chicago Loop area is the $1.79 price per square foot 2141 W Superior St Model at 2141 W Superior St, Unit J01P in the in the Chicago Loop neighborhood starting from $2,500. The second greatest value Chicago Loop apartment is the Two Bedroom Model at Lake Shore Plaza starting at $3,125 with a $2.28 price per square foot in the Magnificent Mile 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.
2141 W Superior St, Unit J01P2141 W Superior St3BR,1BA$1.79
Lake Shore PlazaTwo Bedroom2BR,2BA$2.28
731 Plymouth by 3L Living2 Bedroom East2BR,1BA$2.28
10 E. Ontario St.1 Bedroom1BR,1BA$2.11
440 N. Wabash Ave.1 Bedroom - 1 Bathroom1BR,1BA$2.53
210 N Wells St, Unit FL17-ID268210 N Wells St1BR,1BA$1.91
750 N Rush St, Unit FL31-ID86750 N Rush St1BR,1BA$1.98
50 W Randolph St, Unit 90550 W Randolph St1BR,1BA$2.47
545 N Dearborn St, Unit 2201B545 N Dearborn St1BR,1BA$2.50
777 South StateOne Bedroom1BR,1BA$2.52

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Pet Friendly Lifestyle
Chicago Loop, Chicago, IL

Ranked #7

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 the Cheapest Studio apartment in Chicago Loop?

Currently the most affordable Cheap Studio Apartment in Chicago Loop is at Gramercy Row Apartments listed at $1,256.

How much is rent for a Cheap One Bedroom Chicago Loop Apartment?

The lowest price for a Cheap One Bedroom Chicago Loop Apartment is $1,695 at Gramercy Row Apartments.

What is the lowest price for a Cheap Two Bedroom Chicago Loop Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Chicago Loop is starting from $2,099 at 731 Plymouth by 3L Living.

What is the most affordable Chicago Loop Three Bedroom Apartment?

The best deal on a cheap Chicago Loop Three Bedroom Apartment rental is at Millennium Park Plaza and starts from $3,695.

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.

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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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What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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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.