Cheap Homes for Rent in Magnificent Mile Neighborhood of Chicago, IL from $1,200 (143 Rentals)

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

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property at 70 Huron W St

$1,800

Total Monthly Price

Total Monthly Price

Base Rent
$1,800
Total Monthly Price
$1,800

Studio, 1 Bath Condo for Rent

Available May 21

70 Huron W St, Unit 1101

70 Huron W St
ChicagoIL60654
property at 175 E Delaware Pl

$1,850 - $8,000

Studio To 2 Bedroom Rentals

Available Now

175 E Delaware Pl

ChicagoIL60611
property at 1122 N Dearborn St

$1,900 - $2,300

Studio To 1 Bedroom Condos for Rent

Available Now

1122 N Dearborn St

ChicagoIL60610
property at 8 W Monroe St

$1,900

Total Monthly Price

Total Monthly Price

Base Rent
$1,900
Total Monthly Price
$1,900

1 Bedroom, 1 Bath Condo for Rent

Available Now

8 W Monroe St, Unit 810

8 W Monroe St
ChicagoIL60603

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

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property at 401 E Ontario St

$1,925 - $2,100

Total Monthly Price

Total Monthly Price

Base Rent
$1,925 - $2,100
Total Monthly Price
$1,925 - $2,100

1 Bedroom, 1 Bath Condo for Rent

Available Now

401 E Ontario St

ChicagoIL60611
property at 300 N State St

$1,950

Total Monthly Price

Total Monthly Price

Base Rent
$1,950
Total Monthly Price
$1,950

Studio, 1 Bath Condo for Rent

Available May 1

300 N State St, Unit 2504

300 N State St
ChicagoIL60654
property at 300 N State St

$1,950

Total Monthly Price

Total Monthly Price

Base Rent
$1,950
Total Monthly Price
$1,950

Studio, 1 Bath Condo for Rent

Available May 1

300 N State St, Unit # 02504

300 N State St
ChicagoIL60654

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Showing Results 1-50, Page 1 of 3

Cheapest Available Magnificent Mile Apartments for Rent

 

The cheapest available apartment rental in the Magnificent Mile area of Chicago, IL is a Studio unit found at 11 W. Division priced from $1,215. Maple has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,230. Here are the most affordable Magnificent Mile apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
11 W. DivisionStudioStudio,1BA$1,215
Maple1 Bedroom 1 Bathroom1BR,1BA$1,230
1036 N. DearbornStudioStudio,1BA$1,345
211 E. DelawareStudioStudio,1BA$1,395
25 E. DelawareStudio 1Studio,1BA$1,395
Gramercy Row ApartmentsStudio Floor Plan S15Studio,1BA$1,424
1164 N DearbornStudioStudio,1BA$1,425

Best Value Apartments for Rent in Magnificent Mile, IL

As of April 06, 2026 the best value apartment in the Magnificent Mile area is the $2.00 price per square foot StoreFront Model at 1221 N. LaSalle Lofts in the in the Magnificent Mile neighborhood starting from $3,000. The second greatest value Magnificent Mile apartment is the 333 E Wacker Dr Model at 333 E Wacker Dr, Unit 17 starting at $3,400 with a $2.83 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.
1221 N. LaSalle LoftsStoreFrontStudio ,2BA$2.00
333 E Wacker Dr, Unit 17333 E Wacker Dr2BR,2BA$2.83
10 E. Ontario St.1 Bedroom1BR,1BA$2.11
18 E. Elm2 Bedroom / 2 Bathroom2BR,2BA$2.89
750 N. Rush1-BR/1BA1BR,1BA$2.95
1226 N Dearborn St1226 N Dearborn St2BR,1BA$2.82
674 N Orleans St, Unit APT 1674 N Orleans St1BR,1BA$2.59
127 Maple AveL11BR,1BA$2.93
1120 N. LaSalleSTUD/1BAStudio ,1BA$2.87
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 597 Apartments for Rent in Magnificent Mile, IL with pricing that ranges from $1,105 to $48,409. There are also 630 Single Family Homes for rent, Condos, and Townhome rentals currently available in Magnificent Mile ranging from $1,295 to $24,000.

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 $1,295 to $24,000 with an average monthly rent of $8,702.

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 $2,995 to $38,481, while Three Bedroom Homes, Condos, and Townhomes for rent range from $4,650 to $23,000. Four Bedroom Single-Family rentals are also available starting from $6,000 and Four Bedroom Apartments start at $10,000.

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.

Helpful Local Expert Guides

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