Cheap Homes for Rent in Grant Park Neighborhood of Chicago, IL from $1,600 (62 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

$1,600

Studio Rentals

Available Now

40 E 9th St

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.

Read Article
property at 400 E Randolph St

$1,995 - $3,000

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

$2,050

Total Monthly Price

Total Monthly Price

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

Studio, 1 Bath Condo for Rent

Available Now

400 E Randolph St, Unit 3321

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

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

Learn about the best things about living in Chicago from a local in the Insiders Guide to Renting in Chicago. Find your perfect Chicago apartment today!

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property at 1345 S Wabash Ave

$2,200 - $2,900

Total Monthly Price

Total Monthly Price

Base Rent
$2,200 - $2,900
Total Monthly Price
$2,200 - $2,900

1 To 2 Bedroom Condos for Rent

Available Now

1345 S Wabash Ave

ChicagoIL60605

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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property at 400 E Randolph St

$2,300

Total Monthly Price

Total Monthly Price

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

Studio, 1 Bath Condo for Rent

Available Apr 1

400 E Randolph St, Unit 2312

400 E Randolph St
ChicagoIL60601

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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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 820 Michigan by 3L Living priced from $1,689. 2101 Michigan has the second lowest priced unit, which is a Studio apartment currently listed from $1,744. Here are the most affordable Grant Park apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
820 Michigan by 3L LivingStudio EastStudio,1BA$1,689
2101 MichiganStudioStudio,1BA$1,744
30 East RooseveltER_1x11BR,1BA$1,750
Park Michigan - 1212 S Michigan AveStudio 1ba 03Studio,1BA$1,919
1407 on MichiganS7Studio,1BA$1,942
CoevalS1.LStudio,1BA$1,955
The AlfredA3Studio,1BA$2,025
1400 WabashS1Studio,1BA$2,033
Aspire ResidencesAsp_1b_021BR,1BA$2,170

Best Value Apartments for Rent in Grant Park, IL

As of February 21, 2026 the best value apartment in the Grant Park area is the $1.24 price per square foot 4 BEDROOM/4 BATHROOM - D Model at 30 East in the in the South Loop neighborhood starting from $1,730. The second greatest value Grant Park apartment is the 1100 S Michigan Ave Model at 1100 S Michigan Ave starting at $3,608 with a $3.14 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.
30 East4 BEDROOM/4 BATHROOM - D4BR,4BA$1.24
1100 S Michigan Ave1100 S Michigan Ave2BR,2BA$3.14
1464 S MICHIGAN1464 S MICHIGAN2BR,2BA$2.50
Arrive South LoopMcKinley Loft2BR,2BA$3.31
Arrive LEXCongress2BR,1BA$3.40
Student | The Flats East West3x23BR,2BA$1.23
SKY551D Penthouse1BR,1BA$3.67
1619 S Michigan Ave1619 S Michigan Ave1BR,1BA$3.63
30 East RooseveltER_1x11BR,1BA$3.03
Park Michigan - 1212 S Michigan AveConv 03 05 07 09Studio ,1BA$3.52

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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

Read Article
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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 #38

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 123 Apartments for Rent in Grant Park, IL with pricing that ranges from $1,359 to $18,346. There are also 174 Single Family Homes for rent, Condos, and Townhome rentals currently available in Grant Park ranging from $2,000 to $8,250.

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 $2,000 to $8,250 with an average monthly rent of $4,397.

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 $1,359 to $9,900, while Three Bedroom Homes, Condos, and Townhomes for rent range from $4,050 to $7,300. Four Bedroom Single-Family rentals are also available starting from $8,250 and Four Bedroom Apartments start at $1,359.

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 Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

decorative image for Renting with Roommates: Realistic Expectations for Shared Lease article

Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.