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Cheap Apartments for Rent in the Old Town Neighborhood of Chicago, IL from $700 (20 Rentals)
Search the lowest-cost Apartments available for rent right now in the Old Town area of Chicago.
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$1,600 - $4,600Studio to 2 Bedroom Apartments Available Now
1522 N La Salle Dr
1522 N La Salle DrChicago, IL 60610
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$1,896 - $23,973Studio to 4 Bedroom Apartments Available Now
ONE Old Town Park
1140 N Wells StChicago, IL 60610
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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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$1,995Studio Apartment Available Nov 1
1308 N La Salle Dr, Unit #2B
1308 N La Salle DrChicago, IL 60610
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Rent Specials
$2,015 - $4,837Studio to 2 Bedroom Apartments Available Now
Cobbler Square Lofts
1350 N WellsChicago, IL 60610
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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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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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Showing Results 1-20, 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 | $2,613 | $1,195 | $3,890 |
| Old Town 1 Bedroom Apartments | $3,065 | $1,910 | $5,443 |
| Old Town 2 Bedroom Apartments | $4,035 | $2,500 | $7,672 |
| Old Town 3 Bedroom Apartments | $7,687 | $2,700 | $10,000+ |
Browse Apartments in this Neighborhood
There are currently 20 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
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
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. SoNo East has the second lowest priced unit, which is a 1 Bed apartment currently listed from $2,220. Here are the most affordable Old Town apartments for rent in Chicago, IL:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 1522 N La Salle Dr | Studio | Studio,1BA | $1,600 |
| SoNo East | O | 1BR,1BA | $2,220 |
| The Archer | 1BR/1.0BA | 1BR,1BA | $2,221 |
| ONE Old Town Park | Plan S2a | Studio,1BA | $2,350 |
| The Sinclair | Studio-S1 | Studio,1BA | $2,490 |
Best Value Apartments for Rent in Old Town, IL
As of October 17, 2025 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 1518 N Sedgwick St, Unit 4B | 1518 N Sedgwick St | 3BR,2BA | $2.63 |
| 1332 N Cleveland Ave, Unit 1 | 1332 N Cleveland Ave | 3BR,3BA | $2.59 |
| 1221 N. LaSalle Lofts | StoreFront | Studio ,2BA | $2.00 |
| 241 W Scott St, Unit 1 | 241 W Scott St | 2BR,1.5BA | $2.46 |
| Affinity on North Avenue | 2 Bedroom 2 Bath Market | 2BR,2BA | $2.46 |
| 1401 N Wells St, Unit 3 | 1401 N Wells St | 3BR,1BA | $3.00 |
| 1357 N Wells St, Unit coach house | 1357 N Wells St | 2BR,1BA | $3.13 |
| 206 W Division St, Unit 2F | 206 W Division St | 1BR,1BA | $2.63 |
| The Archer | 1BR/1.0BA | 1BR,1BA | $2.93 |
| 245 W North Ave, Unit 112 | 245 W North Ave | Studio ,1BA | $2.49 |
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
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleA 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
Read ArticleQuick 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.
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Pet Friendly LifestyleOld Town, Chicago, IL
Ranked #44
Among cities in Illinois 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®
80 / 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 $2,500.
What is the price of a cheap apartment in Old Town?
The cheapest apartment in Old Town is The Archer which is listed at $2,221, while the average apartment in Old Town costs $6,621.
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 2 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 $150 which is $6,471 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.
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.
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.