Cheap Homes for Rent in West Loop Neighborhood of Chicago, IL from $1,500 (88 Rentals)

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Search the lowest-cost Homes available for rent right now in the West 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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property at 506 N Green St

506 N Green St

ChicagoIL60642
property at 315 N May St

315 N May St

ChicagoIL60607
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West Loop, Chicago, IL Local Guide

Cheapest Available West Loop Apartments for Rent

 

The cheapest available apartment rental in the West Loop area of Chicago, IL is a Studio unit found at 768 W. Jackson priced from $1,295. Elm 551 at Parkside has the second lowest priced unit, which is a Studio apartment currently listed from $1,313. Here are the most affordable West Loop apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
768 W. JacksonStudioStudio,1BA$1,295
Elm 551 at ParksideStudioStudio,1BA$1,313
Presidential TowersSTUDIO SIXStudio,1BA$1,605
Larrabee Place at Parkside of Old Town1 Bedroom1BR,1BA$1,629
Verdant Apartments0BR/1.0BAStudio,1BA$1,644
Gateway West LoopE1Studio,1BA$1,913
Nevele22 - 1122 W ChicagoS11Studio,1BA$1,925
Alta at K StationWest 09 & 10Studio,1BA$1,959

Best Value Apartments for Rent in West Loop, IL

As of April 08, 2025 the best value apartment in the West Loop area is the $1.47 price per square foot 1039 W Grand Ave Model at 1039 W Grand Ave, Unit 3 in the in the Parc Chesnut neighborhood starting from $3,295. The second greatest value West Loop apartment is the 613 N Racine Ave Model at 613 N Racine Ave, Unit 1 starting at $3,950 with a $1.93 price per square foot in the West Town neighborhood. Here is today’s list of the best values for West Loop apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1039 W Grand Ave, Unit 31039 W Grand Ave3BR,2BA$1.47
613 N Racine Ave, Unit 1613 N Racine Ave4BR,2BA$1.93
229 S Racine Ave, Unit 1229 S Racine Ave2BR,2BA$1.87
229 S Racine Ave, Unit 1229 S Racine Ave2BR,2BA$1.87
229 S Racine Ave, Unit 1229 S Racine Ave2BR,2BA$2.06
1224 W Augusta Blvd, Unit 11224 W Augusta Blvd2BR,1BA$1.88
1224 W Augusta Blvd, Unit #11224 W Augusta Blvd2BR,1BA$1.88
650 W Wayman St, Unit 106C650 W Wayman St1BR,1BA$2.17
1160 W Grand Ave1160 W Grand Ave2BR,1BA$2.32
Larrabee Place at Parkside of Old Town1 Bedroom1BR,1BA$2.28

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Frequently Asked Questions about West Loop

What type of rentals are currently available in West Loop?

There are currently 414 Apartments for Rent in West Loop, IL with pricing that ranges from $1,295 to $77,776. There are also 395 Single Family Homes for rent, Condos, and Townhome rentals currently available in West Loop ranging from $1,750 to $22,488.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in West Loop ranges from $1,750 to $22,488 with an average monthly rent of $5,642.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in West Loop range from $3,295 to $38,481, while Three Bedroom Homes, Condos, and Townhomes for rent range from $3,000 to $8,000. Four Bedroom Single-Family rentals are also available starting from $4,400 and Four Bedroom Apartments start at $3,950.

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.

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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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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.

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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.