Cheap Homes for Rent in Grant Park Neighborhood of Chicago, IL from $1,500 (51 Rentals)

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Cheap Homes in the Grant Park area of Chicago.

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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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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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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property at 142 E Cermak Rd

142 E Cermak Rd

ChicagoIL60616
Showing Results 1-50, Page 1 of 2

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. Park Michigan - 1212 S Michigan Ave has the second lowest priced unit, which is a Studio apartment currently listed from $1,624. 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
Park Michigan - 1212 S Michigan AveStudio 1ba 05Studio,1BA$1,624
2101 MichiganStudioStudio,1BA$1,634
820 Michigan by 3L LivingStudio NorthStudio,1BA$1,694
30 East RooseveltER_1x11BR,1BA$1,850
ELEVEN THIRTYTier 6/12 (Studio)Studio,1BA$1,908
Aspire ResidencesAsp_1b_031BR,1BA$1,955
CoevalV4Studio,1BA$2,152

Best Value Apartments for Rent in Grant Park, IL

As of May 01, 2025 the best value apartment in the Grant Park area is the $3.10 price per square foot 1150 S Michigan Ave Model at 1150 S Michigan Ave, Unit 2 in the in the South Loop neighborhood starting from $3,563. The second greatest value Grant Park apartment is the T6 Model at 1400 Wabash starting at $3,234 with a $3.07 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.
1150 S Michigan Ave, Unit 21150 S Michigan Ave2BR,2BA$3.10
1400 WabashT62BR,2BA$3.07
Eleven40B32BR,2BA$3.45
Arrive LEXAberdeen1BR,1BA$3.35
820 Michigan by 3L Living2 Bedroom West2BR,2BA$3.84
1315 S Michigan Ave, Unit 11315 S Michigan Ave1BR,1BA$3.64
30 East RooseveltER_1x11BR,1BA$3.21
Park Michigan - 1212 S Michigan AveStudio 1ba 03Studio ,1BA$3.33
The AlfredB5Studio ,1BA$3.51
32 E Adams St, Unit 1C32 E Adams St1BR,1BA$3.73

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Frequently Asked Questions about Grant Park

What type of rentals are currently available in Grant Park?

There are currently 119 Apartments for Rent in Grant Park, IL with pricing that ranges from $1,399 to $15,980. There are also 168 Single Family Homes for rent, Condos, and Townhome rentals currently available in Grant Park ranging from $1,525 to $11,800.

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 $1,525 to $11,800 with an average monthly rent of $4,331.

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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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.

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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.