Cheap Apartments for Rent in the Old Town Neighborhood of Chicago, IL from $700 (39 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Old Town area of Chicago.

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SoNo East
Rent Specials
$2,235 - $4,732
Total Monthly Price

Total Monthly Price

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$2,235 - $4,732
Total Monthly Price
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Studio to 2 Bedroom Apartments Available Now

SoNo East

840 W Blackhawk StChicago, IL 60642
Eco-Friendly
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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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1225 Old Town
$2,395 - $7,048
Total Monthly Price

Total Monthly Price

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$2,395 - $7,048
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Studio to 3 Bedroom Apartments Available Now

1225 Old Town

1225 N Wells StChicago, IL 60610
Corporate Housing
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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.

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North Town Village
1 to 4 Bedroom Apartments

North Town Village

1311 N Halsted StChicago, IL 60642
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Montauk
Studio to 2 Bedroom Apartments

Montauk

1550 N Wieland StChicago, IL 60610
  • Utilities Included
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Sedgwick Apartments
2 to 3 Bedroom Apartments

Sedgwick Apartments

414 W Goethe StChicago, IL 60610
  • Utilities Included

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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1555 N Mohawk St
1 to 2 Bedroom Apartments

1555 N Mohawk St

1555 N Mohawk StChicago, IL 60610
  • Utilities Included
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1250 Lasalle
Studio to 2 Bedroom Apartments

1250 Lasalle

1250 N LaSalle StChicago, IL 60610
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Terrace 459
1 to 3 Bedroom Apartments

Terrace 459

459 W Division StChicago, IL 60610
  • Utilities Included
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Windsor North + Vine
Studio to 3 Bedroom Apartments

Windsor North + Vine

633 W North AveChicago, IL 60610
Corporate Housing

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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1405 N Wells St
Studio to 2 Bedroom Apartments

1405 N Wells St

1405 N Wells StChicago, IL 60610
  • Utilities Included
Showing Results 1-39, Page 1 of 1

Old Town, Chicago, IL Local Guide

Cheapest Available Old Town Apartments for Rent

 

The cheapest available apartment rental in the Old Town area of Chicago, IL is a Studio unit found at 1522 N La Salle Dr priced from $1,600. Windsor North + Vine has the second lowest priced unit, which is a Studio apartment currently listed from $2,219. Here are the most affordable Old Town apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
1522 N La Salle DrStudioStudio,1BA$1,600
Windsor North + VineS1Studio,1BA$2,219
Than Tower1 Bedroom1BR,1BA$2,385
The Archer1BR/1.0BA1BR,1BA$2,557
SoNo EastP1BR,1BA$2,565
1553 N Wells St1b/1b1BR,1BA$2,600
Cobbler Square LoftsDS1Studio,1BA$2,612
1225 Old TownConvertibleStudio,1BA$2,794
Acclaim on North Avenue2 Bedroom 2 Bath Market2BR,2BA$2,850

Best Value Apartments for Rent in Old Town, IL

As of May 22, 2026 the best value apartment in the Old Town area is the $2.63 price per square foot 1518 N Sedgwick St Model at 1518 N Sedgwick St, Unit 4B in the in the Parc Chesnut neighborhood starting from $5,250. The second greatest value Old Town apartment is the 1332 N Cleveland Ave Model at 1332 N Cleveland Ave, Unit 1 starting at $4,400 with a $2.59 price per square foot in the Near North Side neighborhood. Here is today’s list of the best values for Old Town apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1518 N Sedgwick St, Unit 4B1518 N Sedgwick St3BR,2BA$2.63
1332 N Cleveland Ave, Unit 11332 N Cleveland Ave3BR,3BA$2.59
Acclaim on North Avenue2 Bedroom 2 Bath Market2BR,2BA$1.91
1214 N La Salle Dr, Unit F51214 N La Salle Dr2BR,2BA$3.72
Cobbler Square LoftsDA131BR,1BA$4.00
1212 N La Salle Dr, Unit 51212 N La Salle Dr2BR,2BA$3.80
1214 N La Salle Dr1214 N La Salle Dr2BR,2BA$3.94
The Archer1BR/1.0BA1BR,1BA$3.37
Than Tower1 Bedroom1BR,1BA$3.60
1553 N Wells St1b/1b1BR,1BA$4.00

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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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

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Pet Friendly Lifestyle
Old Town, Chicago, IL

Ranked #53

Among cities in Illinois for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Frequently Asked Questions about Cheap Old Town Apartments

What is a cheap apartment in Old Town?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Old Town is under $2,850.

What is the price of a cheap apartment in Old Town?

The cheapest apartment in Old Town is 1522 N La Salle Dr which is listed at $2,300, while the average apartment in Old Town costs $6,558.

What types of apartments are the cheapest in Old Town?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 5 regular apartments in Old Town that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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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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.

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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.

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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

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From Lake Shore Drive to the O’Hare Airport, the city of Chicago is a study in diversity, resilience, and culture.

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I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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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.