Cheap Homes for Rent in Grant Park Neighborhood of Chicago, IL from $1,600 (65 Rentals)

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

property at 40 E 9th St

$1,650 - $2,950

Studio To 1 Bedroom Rentals

Available Now

40 E 9th St

ChicagoIL60605

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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property at 400 E Randolph St

$2,000

Total Monthly Price

Total Monthly Price

Base Rent
$2,000
Total Monthly Price
$2,000

Studio, 1 Bath Condo for Rent

Available Now

400 E Randolph St, Unit 2022

400 E Randolph St
ChicagoIL60601
property at 1400 S Michigan Ave

$2,050

Total Monthly Price

Total Monthly Price

Base Rent
$2,050
Total Monthly Price
$2,050

Studio, 1 Bath Condo for Rent

Available Now

1400 S Michigan Ave, Unit 27G

1400 S Michigan Ave
ChicagoIL60605

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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property at 400 E Randolph St

$2,200

Total Monthly Price

Total Monthly Price

Base Rent
$2,200
Total Monthly Price
$2,200

Studio, 1 Bath Condo for Rent

Available Now

400 E Randolph St, Unit 3022

400 E Randolph St
ChicagoIL60601
property at 400 E Randolph St

$2,100 - $2,500

Studio To 1 Bedroom Rentals

Available Now

400 E Randolph St

ChicagoIL60601

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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property at 400 E Randolph St

$2,300

Total Monthly Price

Total Monthly Price

Base Rent
$2,300
Total Monthly Price
$2,300

1 Bedroom, 1 Bath Condo for Rent

Available Now

400 E Randolph St, Unit 2316

400 E Randolph St
ChicagoIL60601
property at 2110 S Wabash Ave

$2,310 - $4,495

Total Monthly Price

Total Monthly Price

Base Rent
$2,310 - $4,495
Total Monthly Price
$2,310 - $4,495

1 To 3 Bedroom Condos for Rent

Available Now

2110 S Wabash Ave

ChicagoIL60616
property at 1717 S Prairie Ave

$2,350

Total Monthly Price

Total Monthly Price

Base Rent
$2,350
Total Monthly Price
$2,350

1 Bedroom, 1 Bath Condo for Rent

Available Now

1717 S Prairie Ave, Unit 1307

1717 S Prairie Ave
ChicagoIL60616

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Showing Results 1-50, Page 1 of 2

Grant Park, Chicago, IL Local Guide

Cheapest Available Grant Park Apartments for Rent

 

The cheapest available apartment rental in the Grant Park area of Chicago, IL is a Studio unit found at 21st Street Lofts by 3L Living priced from $1,429. 820 Michigan by 3L Living has the second lowest priced unit, which is a Studio apartment currently listed from $1,719. Here are the most affordable Grant Park apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
21st Street Lofts by 3L LivingStudio - CStudio,1BA$1,429
820 Michigan by 3L LivingStudio EastStudio,1BA$1,719
2101 MichiganStudioStudio,1BA$1,815
Park Michigan - 1212 S Michigan Ave1bd 1ba 111BR,1BA$1,929
30 East RooseveltER_2x12BR,1BA$2,050
ELEVEN THIRTYTier 6/12 (Studio)Studio,1BA$2,110
Aspireasp1b021BR,1BA$2,355
CoevalA6.L1BR,1BA$2,367
The AlfredC11BR,1BA$2,425
Arrive LEXArgyle1BR,1BA$2,429

Best Value Apartments for Rent in Grant Park, IL

As of July 07, 2026 the best value apartment in the Grant Park area is the $3.20 price per square foot Addison Loft Model at Arrive South Loop in the in the Near South Side neighborhood starting from $2,929. The second greatest value Grant Park apartment is the A9.L Model at Coeval starting at $3,494 with a $3.89 price per square foot in the Near South Side neighborhood. Here is today’s list of the best values for Grant Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Arrive South LoopAddison Loft2BR,2BA$3.20
CoevalA9.L1BR,1BA$3.89
30 East RooseveltER_2x12BR,1BA$2.32
Sentral Michigan AvenueA31BR,1BA$4.20
The AlfredC11BR,1BA$3.07
NevesenoO231BR,1BA$3.45
SKY551D Penthouse1BR,1BA$3.79
ONE333One Bedroom a31BR,1BA$3.52
1400 WabashO21BR,1BA$3.75
Park Michigan - 1212 S Michigan AveConv 03 05 07 09Studio ,1BA$4.03

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Best Neighborhoods to Rent in Near Chicago's Top Employers: A Guide for Renters

A Local Expert's Guide to The 10 Best Chicago Neighborhoods near Major Local Employers. Find your perfect Chicago, IL apartment, condo, or rental home today at ApartmentHomeLiving.com

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A Local Expert's Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago

A Local Expert's guide to the Best Student Friendly Neighborhoods Near Colleges in the Chicago, IL metro area for affordable living. Find your perfect Chicago Student apartment, condo, or rental home today at ApartmentHomeliving.com

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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
Grant Park, Chicago, IL

Ranked #44

Among cities in Illinois for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Frequently Asked Questions about Grant Park

What type of rentals are currently available in Grant Park?

There are currently 117 Apartments for Rent in Grant Park, IL with pricing that ranges from $924 to $12,450. There are also 158 Single Family Homes for rent, Condos, and Townhome rentals currently available in Grant Park ranging from $1,650 to $12,000.

What is the current price range for Rental Homes in Grant Park?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Grant Park ranges from $1,650 to $12,000 with an average monthly rent of $3,898.

How much are larger Three and Four Bedroom Rentals in Grant Park?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Grant Park range from $989 to $12,450, while Three Bedroom Homes, Condos, and Townhomes for rent range from $3,275 to $12,000. Four Bedroom Single-Family rentals are also available starting from $5,300 and Four Bedroom Apartments start at $924.

Expert Rental Resources

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.

Helpful Local Expert Guides

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 Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago article

Top Student Friendly Neighborhoods to Rent Near Colleges in Chicago

Written by: Nicole Harms

With world-class museums lining its streets, Chicago is a place people go to learn. It’s not surprising, therefore, that it’s also home to multiple colleges and universities with national and global reputations.

decorative image for Best Neighborhoods to Rent in Near Chicago's Top Employers article

Best Neighborhoods to Rent in Near Chicago's Top Employers

Written by: Nicole Harms

Whenever life takes me into the city, I’m always impressed with the sheer amount of industry and commerce that it holds. With all of that commerce comes a wide range of employment options.

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Explore the Windy City (But Watch for Falling Ice) - An Insider's Guide to Renting in Chicago

Written by: Nicole Harms

From Lake Shore Drive to the O’Hare Airport, the city of Chicago is a study in diversity, resilience, and culture.

Articles, How-To's, and Tips

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

decorative image for Pet-Friendly Renting: Everything You Need to Know Before You Move article

Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.