Cheap Homes for Rent in Grant Park Neighborhood of Chicago, IL from $1,700 (51 Rentals)

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

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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property at 142 E Cermak Rd

142 E Cermak Rd

ChicagoIL60616

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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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Grant Park, Chicago, IL Local Guide

Cheapest Available Grant Park Apartments for Rent

 

The cheapest available apartment rental in the Grant Park area of Chicago, IL is a Studio unit found at 21st Street Lofts by 3L Living priced from $1,399. Pittsfield Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,595. Here are the most affordable Grant Park apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
21st Street Lofts by 3L LivingStudio - CStudio,1BA$1,399
Pittsfield ApartmentsStudio - Style BStudio,1BA$1,595
820 Michigan by 3L LivingStudio NorthStudio,1BA$1,694
Park Michigan - 1212 S Michigan AveStudio 1ba 09Studio,1BA$1,722
30 East RooseveltER_1x11BR,1BA$1,850
CoevalV2Studio,1BA$1,967
ELEVEN THIRTYTier 6/12 (Studio)Studio,1BA$1,980
2101 Michigan1 Bed 1 Bath A1BR,1BA$1,980
Aspire ResidencesAsp_1b_031BR,1BA$1,995

Best Value Apartments for Rent in Grant Park, IL

As of May 10, 2025 the best value apartment in the Grant Park area is the $3.72 price per square foot B3 Model at Sentral Michigan Avenue in the in the Near South Side neighborhood starting from $4,205. The second greatest value Grant Park apartment is the T1 Model at 1400 Wabash starting at $3,208 with a $2.90 price per square foot in the Near South Side neighborhood. Here is today’s list of the best values for Grant Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Sentral Michigan AvenueB32BR,2BA$3.72
1400 WabashT12BR,2BA$2.90
Eleven40B32BR,2BA$3.62
2101 Michigan2 Bed 1 Bath2BR,1BA$3.10
1150 S Michigan Ave, Unit 11150 S Michigan Ave1BR,1BA$2.98
NevesenoO251BR,1BA$3.82
Arrive LEXAberdeen1BR,1BA$3.40
Park Michigan - 1212 S Michigan Ave1bd 1ba 111BR,1BA$3.31
30 East RooseveltER_1x11BR,1BA$3.21
Aspire ResidencesAsp_1b_131BR,1BA$3.85

Quick Rent Budget Calculator

How much rent can you afford?

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Frequently Asked Questions about Grant Park

What type of rentals are currently available in Grant Park?

There are currently 120 Apartments for Rent in Grant Park, IL with pricing that ranges from $1,399 to $15,980. There are also 173 Single Family Homes for rent, Condos, and Townhome rentals currently available in Grant Park ranging from $1,717 to $14,500.

What is the current price range for Rental Homes in Grant Park?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Grant Park ranges from $1,717 to $14,500 with an average monthly rent of $5,108.

How much are larger Three and Four Bedroom Rentals in Grant Park?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Grant Park range from $1,930 to $12,930, while Three Bedroom Homes, Condos, and Townhomes for rent range from $3,100 to $11,800. Four Bedroom Single-Family rentals are also available starting from $8,500 and Four Bedroom Apartments start at $1,725.

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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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.