Cheap Homes for Rent in South Loop Neighborhood of Chicago, IL from $1,200 (90 Rentals)

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

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Chicago's Best Affordable Neighborhoods

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property at 1 E 8th St

1 E 8th St

ChicagoIL60605
property at 124 W Polk St

124 W Polk St

ChicagoIL60605
property at 142 E Cermak Rd

142 E Cermak Rd

ChicagoIL60616
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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 Coliving priced from $1,108. 21st Street Lofts by 3L Living has the second lowest priced unit, which is a Studio apartment currently listed from $1,422. Here are the most affordable South Loop 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
21st Street Lofts by 3L LivingStudio - BStudio,1BA$1,422
2101 MichiganStudioStudio,1BA$1,634
ELEVEN THIRTYTier 6/12 (Studio)Studio,1BA$1,808
Park Michigan - 1212 S Michigan AveStudio 1ba 05Studio,1BA$1,824
30 East RooseveltER_1x11BR,1BA$1,850
The Regal Apartments1 Bedroom Loft Floor Plan A11BR,1BA$1,876
777 South StateOne Bedroom1BR,1BA$1,920
Aspire ResidencesAsp_1b_031BR,1BA$1,955

Best Value Apartments for Rent in South Loop, IL

As of April 29, 2025 the best value apartment in the South Loop area is the $2.34 price per square foot 2 BED 2 BATH LOFT STYLE Model at Carriage House Lofts in the in the Near South Side neighborhood starting from $2,733. The second greatest value South Loop apartment is the Two Bedroom 01D Model at Astoria Tower starting at $3,369 with a $2.90 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.
Carriage House Lofts2 BED 2 BATH LOFT STYLE2BR,2BA$2.34
Astoria TowerTwo Bedroom 01D2BR,2BA$2.90
1150 S Michigan Ave, Unit 21150 S Michigan Ave2BR,2BA$3.10
1400 WabashT62BR,2BA$3.05
680 S Federal St, Unit Apt 808680 S Federal St1BR,1BA$2.25
1135 S Delano Ct E, Unit W3271135 S Delano Ct E1BR,1BA$3.19
The ShelbyA21BR,1BA$2.86
Wells Place Apartments1 Bed 1 Bath A11BR,1BA$3.12
1720 S Clinton St, Unit Coach House1720 S Clinton St1BR,1BA$2.00
777 South StateOne Bedroom1BR,1BA$2.57

Frequently Asked Questions about South Loop

What type of rentals are currently available in South Loop?

There are currently 273 Apartments for Rent in South Loop, IL with pricing that ranges from $1,050 to $15,980. There are also 252 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Loop ranging from $1,225 to $8,500.

What is the current price range for Rental Homes in South Loop?

Today's rental pricing for Homes for Rent, Condos and Townhomes in South Loop ranges from $1,225 to $8,500 with an average monthly rent of $4,031.

How much are larger Three and Four Bedroom Rentals in South Loop?

For those who are looking for larger living arrangements, Three Bedroom Apartments in South Loop range from $1,899 to $12,930, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,800 to $7,253. Four Bedroom Single-Family rentals are also available starting from $8,500 and Four Bedroom Apartments start at $1,050.

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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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.