Cheap Homes for Rent in the Magnificent Mile Neighborhood of Chicago, IL from $1,500 (229 Rentals)

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

property at 1325 N Dearborn St

$1,650 - $1,750

Total Monthly Price

Total Monthly Price

Base Rent
$1,650 - $1,750
Total Monthly Price
$1,650 - $1,750

Studio, 1 Bath Condo for Rent

Available Now

1325 N Dearborn St

ChicagoIL60610

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property at 300 N State St

$1,875 - $3,000

Studio To 1 Bedroom Rentals

Available Now

300 N State St

ChicagoIL60654
property at 777 N Michigan Ave

$1,925 - $4,100

Studio To 2 Bedroom Rentals

Available Sep 1

777 N Michigan Ave

ChicagoIL60611
property at 111 E Chestnut St

$1,950 - $6,500

Studio To 3 Bedroom Rentals

Available Now

111 E Chestnut St

ChicagoIL60611
property at 111 E Chestnut St

$1,975 - $4,650

Total Monthly Price

Total Monthly Price

Base Rent
$1,975 - $4,650
Total Monthly Price
$1,975 - $4,650

1 To 3 Bedroom Condos for Rent

Available Now

111 E Chestnut St

ChicagoIL60611

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property at 1320 N Dearborn St

$1,995 - $2,695

Total Monthly Price

Total Monthly Price

Base Rent
$1,995 - $2,695
Total Monthly Price
$1,995 - $2,695

Studio To 1 Bedroom Condos for Rent

Available Now

1320 N Dearborn St

ChicagoIL60610
property at 1244 N Dearborn 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

1244 N Dearborn St, Unit 3R

1244 N Dearborn St
ChicagoIL60610
property at 10 E Ontario St

$2,000

Total Monthly Price

Total Monthly Price

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

1 Bedroom, 1 Bath Condo for Rent

Available Now

10 E Ontario St, Unit 1110

10 E Ontario St
ChicagoIL60611
property at 130 N Garland Ct

$2,000 - $2,100

Total Monthly Price

Total Monthly Price

Base Rent
$2,000 - $2,100
Total Monthly Price
$2,000 - $2,100

Studio, 1 Bath Condo for Rent

Available Now

130 N Garland Ct

ChicagoIL60602
property at 211 E Ohio St

$2,000 - $6,000

Studio To 3 Bedroom Rentals

Available Now

211 E Ohio St

ChicagoIL60611

Chicago Relocation 101: Mastering Utilities, Registration, and the CTA

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property at 1122 N Clark 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

1122 N Clark St, Unit 1122

1122 N Clark St
ChicagoIL60610
property at 622 N Wells St

$2,056

Studio, 1 Bath Rentals

Available Oct 5

622 N Wells St

ChicagoIL60654

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

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Showing Results 1-50, Page 1 of 5

Cheapest Available Magnificent Mile Apartments for Rent

 

The cheapest available apartment rental in the Magnificent Mile area of Chicago, IL is a 1 Bed unit found at Maple priced from $1,230. Gramercy Row Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,344. Here are the most affordable Magnificent Mile apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Maple1 Bedroom 1 Bathroom1BR,1BA$1,230
Gramercy Row ApartmentsStudio Floor Plan S9Studio,1BA$1,344
11 W. DivisionStudioStudio,1BA$1,365
211 E. DelawareStudioStudio,1BA$1,515
1036 N. DearbornStudioStudio,1BA$1,535
Park DearbornKitchenetteStudio,1BA$1,550
1162 - 1168 N La Salle Blvd1168 N. LaSalle Dr.1BR,1BA$1,590

Best Value Apartments for Rent in Magnificent Mile, IL

As of August 20, 2026 the best value apartment in the Magnificent Mile area is the $2.74 price per square foot 33 E Division St Model at 33 E Division St, Unit #3 in the in the Magnificent Mile neighborhood starting from $6,300. The second greatest value Magnificent Mile apartment is the 187 N Westshore Dr Model at 187 N Westshore Dr starting at $4,350 with a $2.81 price per square foot in the Magnificent Mile neighborhood. Here is today’s list of the best values for Magnificent Mile apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
33 E Division St, Unit #333 E Division St3BR,3BA$2.74
187 N Westshore Dr187 N Westshore Dr2BR,2BA$2.81
333 E Wacker Dr, Unit 17333 E Wacker Dr2BR,2BA$2.83
211 E Ohio St, Unit 2719211 E Ohio St1BR,1BA$2.71
674 N Orleans St, Unit J03P674 N Orleans St1BR,1BA$2.75
Asbury PlazaOne Bedroom1BR,1BA$2.74
1111 N. Dearborn1-BR/1BA1BR,1BA$2.82
Atrium at Old Town ParkStudio AStudio ,1BA$2.74
1162 - 1168 N La Salle Blvd1168 N. LaSalle Dr.1BR,1BA$2.77
Maple1 Bedroom 1 Bathroom1BR,1BA$2.28

Frequently Asked Questions about Magnificent Mile

What type of rentals are currently available in Magnificent Mile?

There are currently 584 Apartments for Rent in Magnificent Mile, IL with pricing that ranges from $1,299 to $43,181. There are also 656 Single Family Homes for rent, Condos, and Townhome rentals currently available in Magnificent Mile ranging from $1,595 to $35,000.

What is the current price range for Rental Homes in Magnificent Mile?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Magnificent Mile ranges from $1,595 to $35,000 with an average monthly rent of $3,742.

How much are larger Three and Four Bedroom Rentals in Magnificent Mile?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Magnificent Mile range from $4,345 to $38,481, while Three Bedroom Homes, Condos, and Townhomes for rent range from $3,600 to $32,500. Four Bedroom Single-Family rentals are also available starting from $10,000 and Four Bedroom Apartments start at $9,000.

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.

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