Cheap Homes for Rent in Chicago Loop Neighborhood of Chicago, IL from $1,400 (227 Rentals)

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Search the lowest-cost Homes 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 186 W Lake St

186 W Lake St

ChicagoIL60601
property at 40 E 9th St

40 E 9th St

ChicagoIL60605
property at 300 N State St

300 N State St

ChicagoIL60654
property at 328 S Wells St

328 S Wells St

ChicagoIL60606
property at 233 E Erie St

233 E Erie St

ChicagoIL60611
property at 117 N Clark St

117 N Clark St

ChicagoIL60602
property at 914 S Clark St

914 S Clark St

ChicagoIL60605
property at 1 E 8th St

1 E 8th St

ChicagoIL60605
Showing Results 1-50, Page 1 of 5

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 $1,238. 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 ListingModel NameBed/BathPriced From
Gramercy Row ApartmentsStudio Floor Plan S21 666 2FStudio,1BA$1,238
MDA ApartmentsS6NMStudio,1BA$1,640
Columbus PlazaStudioStudio,1BA$1,676
Fisher Building ApartmentsA11BR,1BA$1,715
The AlfredA3Studio,1BA$1,750
Arrive Streeterville09 StudioStudio,1BA$1,760

Best Value Apartments for Rent in Chicago Loop, IL

As of March 28, 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 ListingModel NameBed/BathPrice Per Sq.Ft.
800 S Clark St, Unit 2800 S Clark St2BR,2BA$2.85
Wells Place Apartments2 Bed 2 Bath B42BR,2BA$2.60
1135 S Delano Ct E, Unit W7151135 S Delano Ct E2BR,2BA$2.75
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
30 E Huron St, Unit Apt 460130 E Huron St1BR,1BA$2.86
777 South StateOne Bedroom1BR,1BA$2.52
Lake Shore PlazaOne Bedroom1BR,1BA$2.74
1140 S Wabash Ave, Unit 13111140 S Wabash AveStudio ,1BA$2.59

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Frequently Asked Questions about Chicago Loop

What type of rentals are currently available in Chicago Loop?

There are currently 417 Apartments for Rent in Chicago Loop, IL with pricing that ranges from $1,147 to $77,776. There are also 623 Single Family Homes for rent, Condos, and Townhome rentals currently available in Chicago Loop ranging from $1,425 to $35,000.

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 $35,000 with an average monthly rent of $7,408.

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 $1,858 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 $4,200 and Four Bedroom Apartments start at $1,658.

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.