Cheap Homes for Rent in Downtown Chicago Neighborhood of Chicago, IL from $1,100 (247 Rentals)

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

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Chicago's Best Affordable Neighborhoods

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460 W 28th Pl

ChicagoIL60616
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Downtown Chicago, Chicago, IL Local Guide

Cheapest Available Downtown Chicago Apartments for Rent

 

The cheapest available apartment rental in the Downtown Chicago area of Chicago, IL is a 4 Beds unit found at Mccormick Coliving priced from $1,108. Prairie Shores has the second lowest priced unit, which is a Studio apartment currently listed from $1,128. Here are the most affordable Downtown Chicago apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Mccormick ColivingPrivate Bedroom in Shared 4 Bed 3 Bath (D)4BR,3BA$1,108
Prairie ShoresClassic StudioStudio,1BA$1,128
Atrium at Old Town ParkStudio AStudio,1BA$1,141
11 W. DivisionStudioStudio,1BA$1,225
Maple1 Bedroom 1 Bathroom1BR,1BA$1,230
Addams ColivingUnit 2074BR,4BA$1,250
1036 N. DearbornStudioStudio,1BA$1,295
768 W. JacksonStudioStudio,1BA$1,295
1912 S Throop St2 Bed/1.5 Bath2BR,1BA$1,300

Best Value Apartments for Rent in Downtown Chicago, IL

As of April 30, 2025 the best value apartment in the Downtown Chicago area is the $1.47 price per square foot 1039 W Grand Ave Model at 1039 W Grand Ave, Unit 3 in the in the Parc Chesnut neighborhood starting from $3,295. The second greatest value Downtown Chicago apartment is the 1025 W 20th Plz Model at 1025 W 20th Plz, Unit 1 starting at $2,600 with a $1.44 price per square foot in the University Village neighborhood. Here is today’s list of the best values for Downtown Chicago apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1039 W Grand Ave, Unit 31039 W Grand Ave3BR,2BA$1.47
1025 W 20th Plz, Unit 11025 W 20th Plz4BR,2BA$1.44
858 N Paulina St, Unit 1858 N Paulina St2BR,2BA$1.83
2141 W Superior St, Unit G06C2141 W Superior St3BR,1BA$1.79
845 N Hoyne Ave, Unit TWO845 N Hoyne Ave3BR,1.5BA$1.85
The 808 ClevelandPrivate Bedroom in Shared 4 Bed 3 Bath4BR,3BA$1.10
1112 N Marshfield Ave, Unit M02B1112 N Marshfield Ave2BR,1BA$1.80
2943 S Canal St, Unit 22943 S Canal St1BR,1BA$1.50
1834 S Blue Island Ave, Unit 31834 S Blue Island Ave1BR,1BA$1.56
618 S Racine Ave, Unit 104618 S Racine Ave1BR,1BA$1.40

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Frequently Asked Questions about Downtown Chicago

What type of rentals are currently available in Downtown Chicago?

There are currently 2320 Apartments for Rent in Downtown Chicago, IL with pricing that ranges from $685 to $77,776. There are also 1494 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Chicago ranging from $1,150 to $30,000.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Chicago ranges from $1,150 to $30,000 with an average monthly rent of $5,804.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Chicago range from $800 to $38,481, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,600 to $30,000. Four Bedroom Single-Family rentals are also available starting from $2,600 and Four Bedroom Apartments start at $800.

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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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

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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.