Cheap Homes for Rent in Chicago Loop Neighborhood of Chicago, IL from $1,400 (181 Rentals)

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

property at 233 E Erie St

233 E Erie St

ChicagoIL60611
property at 871 S Clark St

871 S Clark St

ChicagoIL60605
property at 313 N Canal St

313 N Canal St

ChicagoIL60606
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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 Studio unit found at 440 N. Wabash Ave. priced from $1,675. 820 Michigan by 3L Living has the second lowest priced unit, which is a Studio apartment currently listed from $1,726. Here are the most affordable Chicago Loop apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
440 N. Wabash Ave.StudioStudio,1BA$1,675
820 Michigan by 3L LivingStudio NorthStudio,1BA$1,726
MDA ApartmentsS3N - ModernStudio,1BA$1,790
Astoria TowerStudio 08AStudio,1BA$1,914
Axis Apartments and LoftsConvertible StudioStudio,1BA$1,915
Lakeside 800Two Bedroom2BR,1BA$1,985
The Regal Apartments1 Bedroom Floor Plan A21BR,1BA$2,022
10 E. Ontario St.1 Bedroom Corner1BR,1BA$2,050

Best Value Apartments for Rent in Chicago Loop, IL

As of August 07, 2025 the best value apartment in the Chicago Loop area is the $2.50 price per square foot X Model at Roosevelt Collection Lofts in the in the Near South Side neighborhood starting from $3,881. The second greatest value Chicago Loop apartment is the 2 Bed 2 Bath B6 Model at Wells Place Apartments starting at $3,198 with a $2.75 price per square foot in the Near South Side 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.
Roosevelt Collection LoftsX2BR,2BA$2.50
Wells Place Apartments2 Bed 2 Bath B62BR,2BA$2.75
731 Plymouth by 3L Living3 Bedroom East3BR,1.5BA$2.82
680 S Federal St, Unit Apt 808680 S Federal St1BR,1BA$2.25
10 E. Ontario St.1 Bedroom1BR,1BA$2.11
Lakeside 800Two Bedroom2BR,1BA$2.42
West77 ApartmentsOne Bedroom One Bathroom1BR,1BA$3.03
50 W Randolph St, Unit 90550 W Randolph St1BR,1BA$2.74
The Regal Apartments1 Bedroom Floor Plan A21BR,1BA$2.63
Marina CityOne Bedroom1BR,1BA$2.97

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Frequently Asked Questions about Chicago Loop

What type of rentals are currently available in Chicago Loop?

There are currently 343 Apartments for Rent in Chicago Loop, IL with pricing that ranges from $1,300 to $77,776. There are also 606 Single Family Homes for rent, Condos, and Townhome rentals currently available in Chicago Loop ranging from $1,575 to $30,000.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Chicago Loop ranges from $1,575 to $30,000 with an average monthly rent of $10,513.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Chicago Loop range from $1,699 to $38,481, while Three Bedroom Homes, Condos, and Townhomes for rent range from $3,100 to $16,000. Four Bedroom Single-Family rentals are also available starting from $6,000 and Four Bedroom Apartments start at $1,529.

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

decorative image for Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting article

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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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.