Cheap Homes for Rent in South Loop Neighborhood of Chicago, IL from $900 (54 Rentals)

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

1160 S Michigan Ave, Unit 1606

1160 S Michigan Ave

ChicagoIL60605

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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1819 S Michigan Ave, Unit 1203

1819 S Michigan Ave

ChicagoIL60616

1845 S Michigan Ave, Unit 01204

1845 S Michigan Ave

ChicagoIL60616

1450 S Wabash Ave

ChicagoIL60605

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South Loop, Chicago, IL Local Guide

How much does it cost to rent a home in South Loop?

Bedroom	Average Rent	Cheapest Rent	Highest Rent
South Loop 2 Bedroom Homes for Rent	$3,102	$1,975	$5,089
South Loop 3 Bedroom Homes for Rent	$4,051	$1,900	$5,800
South Loop 4 Bedroom Homes for Rent	$4,550	$950	$8,500

Browse Homes for Rent in this Neighborhood

There are currently 54 rentals with your search options within a 2 mile radius of the South Loop Neighborhood of Chicago, IL.

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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 priced from $996. 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 Listing	Model Name	Bed/Bath	Priced From
McCormick	Private Bedroom in Shared 4 Bed 3 Bath (D)	4BR,3BA	$996
2101 Michigan	Studio	Studio,1BA	$1,634
Imprint	Loft Studio E	Studio,1BA	$1,757
Park Michigan - 1212 S Michigan Ave	Studio 1ba 03	Studio,1BA	$1,762
Coeval	S2	Studio,1BA	$1,817
30 East Roosevelt	ER_1x1	1BR,1BA	$1,850
777 South State	One Bedroom	1BR,1BA	$1,880

Best Value Apartments for Rent in South Loop, IL

As of March 24, 2025 the best value apartment in the South Loop area is the $1.86 price per square foot 2550 S Wabash Ave Model at 2550 S Wabash Ave in the in the Near South Side neighborhood starting from $3,350. The second greatest value South Loop apartment is the 2550 S Wabash Ave Model at 2550 S Wabash Ave starting at $3,350 with a $1.87 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 Listing	Model Name	Bed/Bath	Price Per Sq.Ft.
2550 S Wabash Ave	2550 S Wabash Ave	3BR,2BA	$1.86
2550 S Wabash Ave	2550 S Wabash Ave	3BR,2BA	$1.87
Carriage House Lofts	2 BED 2 BATH LOFT STYLE	2BR,2BA	$2.35
1234 S Michigan Ave, Unit 1310	1234 S Michigan Ave	1BR,1BA	$1.85
240 W 24th St, Unit Coach House	240 W 24th St	2BR,1.5BA	$1.67
2310 S Canal St, Unit 203	2310 S Canal St	2BR,1BA	$2.15
731 Plymouth by 3L Living	2 Bedroom East	2BR,1BA	$2.28
1464 S Michigan Ave	1464 S Michigan Ave	2BR,2BA	$2.45
1720 S Clinton St, Unit Coach House	1720 S Clinton St	1BR,1BA	$2.00
777 South State	One Bedroom	1BR,1BA	$2.52

Frequently Asked Questions about South Loop

What type of rentals are currently available in South Loop?

There are currently 294 Apartments for Rent in South Loop, IL with pricing that ranges from $996 to $15,980. There are also 284 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Loop ranging from $950 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 $950 to $8,500 with an average monthly rent of $3,172.

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 $5,800. Four Bedroom Single-Family rentals are also available starting from $950 and Four Bedroom Apartments start at $996.

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.