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Cheap Apartments for Rent in the Old Town Neighborhood of Chicago, IL from $700 (12 Rentals)
Search the lowest-cost Apartments available for rent right now in the Old Town area of Chicago.
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from $1,295Studio Apartment Available Jul 1
245 W North Ave, Unit 213
245 W North AveChicago, IL 60610
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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from $1,3751 Bedroom Apartments Available Sep 1
1162 - 1168 N La Salle Blvd
1162-1168 N La Salle BlvdChicago, IL 60610
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Rent Specials
from $1,4072 to 3 Bedroom Apartments Contact Us For Availability
Sedgwick Apartments
414 W Goethe StChicago, IL 60610
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from $1,600Studio to 2 Bedroom Apartments Available Now
1522 N La Salle Dr
1522 N La Salle DrChicago, IL 60610
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from $1,6291 to 2 Bedroom Apartments Available Now
Larrabee Place at Parkside of Old Town
545 W Division StChicago, IL 60610
1505 N Wells St
ChicagoIL60610
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from $1,896Studio to 4 Bedroom Apartments Available Now
ONE Old Town Park
1140 N Wells StChicago, IL 60610
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.
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Showing Results 1-12, Page 1 of 1
Old Town, Chicago, IL Local Guide
How much does it cost to rent an apartment in Old Town?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Old Town Studio Apartments | $2,850 | $1,195 | $6,215 |
| Old Town 1 Bedroom Apartments | $3,651 | $1,375 | $8,905 |
| Old Town 2 Bedroom Apartments | $5,453 | $1,407 | $10,000+ |
| Old Town 3 Bedroom Apartments | $6,525 | $1,099 | $10,000+ |
| Old Town 4 Bedroom Apartments | $1,754 | $1,179 | $10,000+ |
Browse Apartments in this Neighborhood
There are currently 12 rentals with your search options within a 2 mile radius of the Old Town Neighborhood of Chicago, IL.
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Old Town, Chicago, IL Local Guide
- Nearby Chicago neighborhoods
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Cheapest Available Old Town Apartments for Rent
The cheapest available apartment rental in the Old Town area of Chicago, IL is a 4 Beds unit found at Post Chicago Apartments priced from $1,179. 1162 - 1168 N La Salle Blvd has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,375. Here are the most affordable Old Town apartments for rent in Chicago, IL:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Post Chicago Apartments | 4 Bed 3 Bath | 4BR,3BA | $1,179 |
| 1162 - 1168 N La Salle Blvd | 1 Bed 1 Bath | 1BR,1BA | $1,375 |
| 1522 N La Salle Dr | Studio | Studio,1BA | $1,600 |
| Larrabee Place at Parkside of Old Town | 1 Bedroom | 1BR,1BA | $1,629 |
| Cobbler Square Lofts | DS5 | Studio,1BA | $1,921 |
Best Value Apartments for Rent in Old Town, IL
As of June 11, 2025 the best value apartment in the Old Town area is the $2.40 price per square foot 407 W North Ave Model at 407 W North Ave, Unit 5E in the in the Lincoln Park neighborhood starting from $4,500. 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 407 W North Ave, Unit 5E | 407 W North Ave | 3BR,2BA | $2.40 |
| 1332 N Cleveland Ave, Unit 1 | 1332 N Cleveland Ave | 3BR,3BA | $2.59 |
| 1221 N. LaSalle Lofts | StoreFront | Studio ,2BA | $2.00 |
| Terrace 459 | Two Bed/Two Bath | 2BR,2BA | $1.96 |
| Affinity of North Avenue | 2bdmktrn | 2BR,2BA | $2.02 |
| Post Chicago Apartments | 3 Bed 2 Bath | 3BR,2BA | $1.19 |
| Larrabee Place at Parkside of Old Town | 1 Bedroom | 1BR,1BA | $2.28 |
| 1162 - 1168 N La Salle Blvd | 1 Bed 1 Bath | 1BR,1BA | $2.39 |
| 245 W North Ave, Unit 109 | 245 W North Ave | Studio ,1BA | $2.66 |
| 245 W North Ave, Unit 201 | 245 W North Ave | Studio ,1BA | $2.78 |
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Pet Friendly LifestyleOld Town, Chicago, IL
Ranked #38
Among neighborhoods in Chicago, IL for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Getting Around the Old Town Neighborhood in Chicago, IL
Walk Score®
97 / 100
Walker’s Paradise
Daily errands do not require a car
Bike Score®
91 / 100
Biker's Paradise
Daily errands can be accomplished on a bike
Transit Score®
81 / 100
Excellent Transit
Transit is convenient for most trips
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 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 $2,093.
What is the price of a cheap apartment in Old Town?
The cheapest apartment in Old Town is 1162 - 1168 N La Salle Blvd which is listed at $1,375, while the average apartment in Old Town costs $5,928.
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 48 regular apartments in Old Town that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Old Town?
Cheap apartments in Old Town have an average cost of $932 which is $4,996 cheaper than the average rent for all rentals in Old Town.
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.
The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.