
Cheap 1 Bedroom Apartments for Rent in the Magnificent Mile Neighborhood of Chicago, IL from $1,600 (28 Rentals)


40 East Oak

21 E Chestnut St

1330 N Dearborn

188 N Wells St

77 W Huron St

211 W Scott St
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.

1353 N State Pkwy

20 N State St

Park Dearborn

1136 N La Salle Dr, Unit 207

1435 N Dearborn St, Unit 2A

1435 N Dearborn St, Unit B4

1164 N Dearborn
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.

Canterbury Court Apartments

25 W Hubbard St

Maple

211 E. Ohio St.

1162 - 1168 N La Salle Blvd

The Oliver on LaSalle

Atrium at Old Town Park
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!

Two East Oak

1425 N Dearborn St

200 N Dearborn St

600 N Lake Shore Dr

55 E Erie St

Morningside South

Columbus Plaza
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.
Magnificent Mile, Chicago, IL Local Guide

How much does it cost to rent an apartment in Magnificent Mile?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Magnificent Mile Studio Apartments | $2,494 | $1,105 | $5,247 |
Magnificent Mile 1 Bedroom Apartments | $3,084 | $1,600 | $10,000+ |
| Magnificent Mile 2 Bedroom Apartments | $4,403 | $1,880 | $10,000+ |
| Magnificent Mile 3 Bedroom Apartments | $9,240 | $2,220 | $10,000+ |
| Magnificent Mile 4 Bedroom Apartments | $24,588 | $7,760 | $10,000+ |
Explore Chicago
Frequently Asked Questions about Cheap Magnificent Mile Apartments
What is the Cheapest Studio apartment in Magnificent Mile?
Currently the most affordable Cheap Studio Apartment in Magnificent Mile is at Maple listed at $1,230.
How much is rent for a Cheap One Bedroom Magnificent Mile Apartment?
The lowest price for a Cheap One Bedroom Magnificent Mile Apartment is $1,230 at Maple.
What is the lowest price for a Cheap Two Bedroom Magnificent Mile Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Magnificent Mile is starting from $1,230 at Maple.
What is the most affordable Magnificent Mile Three Bedroom Apartment?
The best deal on a cheap Magnificent Mile Three Bedroom Apartment rental is at Maple and starts from $1,230.
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

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.

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.

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.

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

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.

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.

Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!