Cheap Apartments for Rent in the Chicago Loop Neighborhood of Chicago, IL from $1,000 (51 Rentals)

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

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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property at 117 N Clark St

117 N Clark St

ChicagoIL60602

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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25 W Hubbard St
1 Bedroom Apartments

25 W Hubbard St

25 W Hubbard StChicago, IL 60654
  • Utilities Included
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525 S. Dearborn St.
Studio to 2 Bedroom Apartments

525 S. Dearborn St.

525-537 S Dearborn StChicago, IL 60605
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211 E. Ohio St.
Studio to 2 Bedroom Apartments

211 E. Ohio St.

205-215 E Ohio StChicago, IL 60611
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55 E Erie St
Studio to 3 Bedroom Apartments

55 E Erie St

55 E Erie StChicago, IL 60611
  • Smoke Free
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600 N Lake Shore Dr
Studio to 2 Bedroom Apartments

600 N Lake Shore Dr

600 N Lake Shore DrChicago, IL 60611
Furnished
  • Utilities Included
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Luxury condo unit
Studio to 3 Bedroom Apartments

Luxury condo unit

333 N CanalChicago, IL 60606
Corporate Housing
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180 W. Adams
1 Bedroom Apartments

180 W. Adams

180 W Adams StChicago, IL 60603
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Columbus Plaza
Studio to 2 Bedroom Apartments

Columbus Plaza

233 E Wacker DrChicago, IL 60601
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ELEVEN THIRTY
Studio to 2 Bedroom Apartments

ELEVEN THIRTY

1130 S Michigan AveChicago, IL 60605

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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200 N Dearborn St
Studio to 2 Bedroom Apartments

200 N Dearborn St

200 N Dearborn StChicago, IL 60601
  • Utilities Included
Showing Results 1-50, Page 1 of 2

Chicago Loop, Chicago, IL Local Guide

Cheapest Available Chicago Loop Apartments for Rent

 

The cheapest available apartment rental in the Chicago Loop area of Chicago, IL is a 4 Beds unit found at Buckingham priced from $1,149. Gramercy Row Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,342. Here are the most affordable Chicago Loop apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Buckingham4x2. Floors 3-134BR,2BA$1,149
Gramercy Row ApartmentsStudio Floor Plan S3Studio,1BA$1,342
MDA ApartmentsS2N - ModernStudio,1BA$1,640
820 Michigan by 3L LivingStudio EastStudio,1BA$1,689
Columbus PlazaConvertible1BR,1BA$1,864
Millennium Park PlazaStudioStudio,1BA$1,875
Axis Apartments and LoftsConvertible StudioStudio,1BA$1,890
The Gallery on WellsConvertible/Jr. 1 BedroomStudio,1BA$1,893
320 N. Michigan1 Bed/1 Bath1BR,1BA$1,895

Best Value Apartments for Rent in Chicago Loop, IL

As of June 14, 2025 the best value apartment in the Chicago Loop area is the $2.54 price per square foot 2 Bedrooms Model at The Gallery on Wells in the in the Magnificent Mile neighborhood starting from $3,956. The second greatest value Chicago Loop apartment is the B3PH Model at Fisher Building Apartments starting at $3,670 with a $2.45 price per square foot in the Chicago Loop neighborhood. Here is today’s list of the best values for Chicago Loop apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Gallery on Wells2 Bedrooms2BR,1BA$2.54
Fisher Building ApartmentsB3PH2BR,1.5BA$2.45
Wells Place Apartments2 Bed 2 Bath B62BR,2BA$2.85
731 Plymouth by 3L Living3 Bedroom East3BR,1.5BA$2.84
Buckingham4x2. Floors 19-214BR,2BA$1.63
680 S Federal St, Unit Apt 808680 S Federal St1BR,1BA$2.25
10 E. Ontario St.1 Bedroom1BR,1BA$2.11
440 N. Wabash Ave.1 Bedroom - 1 Bathroom1BR,1BA$2.53
777 South StateOne Bedroom1BR,1BA$2.73
Aqua at Lakeshore EastStudio/1 BathStudio ,1BA$2.79

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Chicago Loop, Chicago, IL

Ranked #10

Among neighborhoods in Chicago, IL for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving.com works hard to bring you our detailed rental search system called 'Lifestyle ratings', composed of neighborhoods, cities and towns, and rental properties across Illinois, including Chicago. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including filtering automatically for outdoor amenities like tennis courts, luxury housing options, kid and pet-friendly communities, availability of transit options, walking, and biking. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Getting Around the Chicago Loop Neighborhood in Chicago, IL

Walk Score®

100 / 100

Walker’s Paradise

Daily errands do not require a car

Bike Score®

81 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

100 / 100

Rider’s Paradise

World-class public transportation

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 Chicago Loop Apartments

What is the Cheapest Studio apartment in Chicago Loop?

Currently the most affordable Cheap Studio Apartment in Chicago Loop is at Gramercy Row Apartments listed at $1,342.

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

The lowest price for a Cheap One Bedroom Chicago Loop Apartment is $1,864 at Columbus Plaza.

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

Today's best deal for a Cheap Two Bedroom Apartment in Chicago Loop is starting from $2,049 at 731 Plymouth by 3L Living.

What is the most affordable Chicago Loop Three Bedroom Apartment?

The best deal on a cheap Chicago Loop Three Bedroom Apartment rental is at Buckingham and starts from $1,149.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.