Cheap Homes for Rent in South Loop Neighborhood of Chicago, IL from $1,300 (68 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Homes 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

Read Article
property at 1 E 8th St

1 E 8th St

ChicagoIL60605
property at 124 W Polk St

124 W Polk St

ChicagoIL60605
property at 883 S Clark St

883 S Clark St

ChicagoIL60605
property at 1503 S State St

1503 S State St

ChicagoIL60605
Showing Results 1-50, Page 1 of 2

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 $1,108. 2101 Michigan has the second lowest priced unit, which is a Studio apartment currently listed from $1,634. 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$1,108
2101 MichiganStudioStudio,1BA$1,634
820 Michigan by 3L LivingStudio NorthStudio,1BA$1,729
Park Michigan - 1212 S Michigan AveStudio 1ba 03Studio,1BA$1,762
AMLI 900ClassicStudio,1BA$1,824
30 East RooseveltER_1x11BR,1BA$1,850
CoevalV2Studio,1BA$1,877

Best Value Apartments for Rent in South Loop, IL

As of April 08, 2025 the best value apartment in the South Loop area is the $2.85 price per square foot 800 S Clark St Model at 800 S Clark St, Unit 2 in the in the South Loop neighborhood starting from $3,536. The second greatest value South Loop apartment is the 2 BED 2 BATH LOFT STYLE Model at Carriage House Lofts starting at $2,737 with a $2.34 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.
800 S Clark St, Unit 2800 S Clark St2BR,2BA$2.85
Carriage House Lofts2 BED 2 BATH LOFT STYLE2BR,2BA$2.34
Astoria TowerTwo Bedroom 01D2BR,2BA$2.90
240 W 24th St, Unit Coach House240 W 24th St2BR,1.5BA$1.67
1401 S State St, Unit FL22-ID7701401 S State St2BR,2BA$2.11
2310 S Canal St, Unit 2032310 S Canal St2BR,1BA$2.15
680 S Federal St, Unit Apt 808680 S Federal St1BR,1BA$2.25
The ShelbyA21BR,1BA$2.86
30 E Roosevelt Rd, Unit FL6-ID80630 E Roosevelt Rd1BR,1BA$2.03
1720 S Clinton St, Unit Coach House1720 S Clinton St1BR,1BA$2.00

Frequently Asked Questions about South Loop

What type of rentals are currently available in South Loop?

There are currently 279 Apartments for Rent in South Loop, IL with pricing that ranges from $950 to $15,980. There are also 245 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Loop ranging from $1,375 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 $1,375 to $8,500 with an average monthly rent of $3,425.

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 $1,858 to $12,930, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,900 to $6,700. Four Bedroom Single-Family rentals are also available starting from $4,200 and Four Bedroom Apartments start at $950.

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.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

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.

decorative image for Renting Smart: Lease Basics Every Renter Needs article

Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

decorative image for Battling the Butts: Your Guide to the Reality of Smoke-Free Renting article

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.