Cheap Apartments for Rent in the South Loop Neighborhood of Chicago, IL from $800 (21 Rentals)

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Search the lowest-cost Apartments available for rent right now in the South 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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525 S. Dearborn St.
Studio to 2 Bedroom Apartments

525 S. Dearborn St.

525-537 S Dearborn StChicago, IL 60605
  • Utilities Inc.
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2001 S State St
2 to 3 Bedroom Apartments

2001 S State St

2001 S State StChicago, IL 60616
  • Utilities Inc.
Showing Results 1-21, Page 1 of 1

South Loop, Chicago, IL Local Guide

Cheapest Available South Loop Apartments for Rent

 

The cheapest available apartment rental in the South Loop area of Chicago, IL is a 4 Beds unit found at McCormick priced from $996. 2423 State Street has the second lowest priced unit, which is a 4 Beds apartment currently listed from $1,019. Here are the most affordable South Loop apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
McCormickPrivate Bedroom in Shared 4 Bed 3 Bath (D)4BR,3BA$996
2423 State StreetPrivate Bedroom in Shared 4 Bed 3 Bath - A4BR,3BA$1,019
2101 MichiganStudioStudio,1BA$1,634
ImprintLoft Studio AStudio,1BA$1,657
ELEVEN THIRTYTier 6/12 (Studio)Studio,1BA$1,715

Best Value Apartments for Rent in South Loop, IL

As of March 12, 2025 the best value apartment in the South Loop area is the $1.95 price per square foot 2550 S Wabash Ave Model at 2550 S Wabash Ave in the in the Near South Side neighborhood starting from $3,495. The second greatest value South Loop apartment is the 1135 S Delano Ct E Model at 1135 S Delano Ct E, Unit W715 starting at $3,025 with a $2.75 price per square foot in the Near South Side neighborhood. Here is today’s list of the best values for South Loop apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
2550 S Wabash Ave2550 S Wabash Ave3BR,2BA$1.95
1135 S Delano Ct E, Unit W7151135 S Delano Ct E2BR,2BA$2.75
1234 S Michigan Ave, Unit 13101234 S Michigan Ave1BR,1BA$1.85
240 W 24th St, Unit Coach House240 W 24th St2BR,1.5BA$1.72
1464 S Michigan Ave1464 S Michigan Ave2BR,2BA$2.50
2310 S Canal St, Unit 2032310 S Canal St2BR,1BA$2.15
731 Plymouth by 3L Living2 Bedroom East2BR,1BA$2.28
Wells Place Apartments1 Bed 1 Bath A41BR,1BA$2.73
777 South StateOne Bedroom1BR,1BA$2.52
1212 S Michigan Ave, Unit FL9-ID11151212 S Michigan Ave1BR,1BA$2.36

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Lifestyle Ratings

ApartmentHomeLiving.com compiles millions of data points to bring you comprehensive Lifestyle Ratings of rentals in metropolitan areas across the United States including South Loop, Chicago, and the greater Chicago area. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including our Star Ratings to compare for proximity to parks, luxury amenities, transit availability, pet-friendly communities, multifamily communities for the kids, in addition to floorplans, availablity, and pricing. Find Lifestyle Search in the filter options (above). Happy Searching!

Getting Around the South Loop Neighborhood in Chicago, IL

Walk Score®

93 / 100

Walker’s Paradise

Daily errands do not require a car

Bike Score®

88 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

86 / 100

Excellent Transit

Transit is convenient for most trips

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap South Loop Apartments

What is the Cheapest Studio apartment in South Loop?

Currently the most affordable Cheap Studio Apartment in South Loop is at 2101 Michigan listed at $1,634.

How much is rent for a Cheap One Bedroom South Loop Apartment?

The lowest price for a Cheap One Bedroom South Loop Apartment is $1,850 at 30 East Roosevelt.

What is the lowest price for a Cheap Two Bedroom South Loop Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in South Loop is starting from $2,099 at 731 Plymouth by 3L Living.

What is the most affordable South Loop Three Bedroom Apartment?

The best deal on a cheap South Loop Three Bedroom Apartment rental is at River City Apartments and starts from $3,909.

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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What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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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.