Cheap Homes for Rent in Chicago Loop Neighborhood of Chicago, IL from $1,400 (216 Rentals)

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

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

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property at 300 N State St

300 N State St

ChicagoIL60654

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 1 E 8th St

1 E 8th St

ChicagoIL60605
property at 211 E Ohio St

211 E Ohio St

ChicagoIL60611
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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 Pittsfield Apartments priced from $1,495. 777 South State has the second lowest priced unit, which is a Studio apartment currently listed from $1,705. 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
777 South StateConvertible StudioStudio,1BA$1,705
Gramercy Row Apartments1 Bedroom Floor Plan A3 672 2F1BR,1BA$1,728
820 Michigan by 3L LivingStudio NorthStudio,1BA$1,729
MDA ApartmentsS8NStudio,1BA$1,750
Axis Apartments and LoftsConvertible StudioStudio,1BA$1,765
Marina CityFurnished StudioStudio,1BA$1,800
Lake and WellsS2Studio,1BA$1,805
330 S. Wells St04 Tier StudioStudio,1BA$1,842

Best Value Apartments for Rent in Chicago Loop, IL

As of April 17, 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 G06C in the in the Chicago Loop neighborhood starting from $2,500. The second greatest value Chicago Loop apartment is the 800 S Clark St Model at 800 S Clark St, Unit 2 starting at $3,585 with a $2.89 price per square foot in the South 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.
2141 W Superior St, Unit G06C2141 W Superior St3BR,1BA$1.79
800 S Clark St, Unit 2800 S Clark St2BR,2BA$2.89
1150 S Michigan Ave, Unit 21150 S Michigan Ave2BR,2BA$2.75
680 S Federal St, Unit Apt 808680 S Federal St1BR,1BA$2.25
10 E. Ontario St.1 Bedroom1BR,1BA$2.11
440 N. Wabash Ave.1 Bedroom - 1 Bathroom1BR,1BA$2.53
50 W Randolph St, Unit 90550 W Randolph St1BR,1BA$2.62
545 N Dearborn St, Unit 2201B545 N Dearborn St1BR,1BA$2.88
Lake Shore PlazaOne Bedroom1BR,1BA$2.87
777 South StateConvertible StudioStudio ,1BA$2.63

Quick Rent Budget Calculator

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Frequently Asked Questions about Chicago Loop

What type of rentals are currently available in Chicago Loop?

There are currently 416 Apartments for Rent in Chicago Loop, IL with pricing that ranges from $1,147 to $77,776. There are also 520 Single Family Homes for rent, Condos, and Townhome rentals currently available in Chicago Loop ranging from $1,425 to $30,000.

What is the current price range for Rental Homes in Chicago Loop?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Chicago Loop ranges from $1,425 to $30,000 with an average monthly rent of $7,356.

How much are larger Three and Four Bedroom Rentals in Chicago Loop?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Chicago Loop range from $1,899 to $38,481, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,500 to $20,000. Four Bedroom Single-Family rentals are also available starting from $5,500 and Four Bedroom Apartments start at $1,699.

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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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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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.