Cheap 1 Bedroom Apartments for Rent in the Magnificent Mile Neighborhood of Chicago, IL from $1,400 (57 Rentals)

14 West Elm Apartments

210 N Wells St, Unit FL14-ID212

150 N Dearborn St, Unit 107

1330 N Dearborn

1100 North Lasalle

The Deco North Lake Shore

1435 N Dearborn St, Unit B4

1435 N Dearborn St, Unit A2

Park Dearborn

1313 W Randolph St

750 N Rush St, Unit FL16-ID270

1136 N La Salle Dr, Unit 207

1435 N Dearborn St, Unit B4

1435 N Dearborn St, Unit 4B

1421 N Dearborn St, Unit 1425-2D

Millennium Park Plaza

The Seneca Apartments

The Bush Temple

26 W Chestnut St, Unit 108-304
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 | $2,452 | $1,105 | $8,000 |
Magnificent Mile 1 Bedroom Apartments | $3,015 | $1,400 | $7,353 |
| Magnificent Mile 2 Bedroom Apartments | $4,535 | $1,700 | $10,000+ |
| Magnificent Mile 3 Bedroom Apartments | $9,117 | $2,220 | $10,000+ |
| Magnificent Mile 4 Bedroom Apartments | $21,380 | $10,000 | $10,000+ |
Explore Chicago
Magnificent Mile, Chicago, IL Local Guide
- Nearby Chicago neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
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.
Pet Friendly LifestyleMagnificent Mile, Chicago, IL
Ranked #5
Among cities in Illinois for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Getting Around the Magnificent Mile 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®
98 / 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 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
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.

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.

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!

The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.





























