Cheap Homes for Rent in Old Town Neighborhood of Chicago, IL from $1,700 (22 Rentals)

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

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

Learn about the best things about living in Chicago from a local in the Insiders Guide to Renting in Chicago. Find your perfect Chicago apartment today!

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Showing Results 1-22, 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. Cobbler Square Lofts has the second lowest priced unit, which is a Studio apartment currently listed from $1,999. 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
Cobbler Square LoftsCS3Studio,1BA$1,999
The Residences at NewCityConvertible1BR,1BA$2,421
SoNo EastN1BR,1BA$2,442

Best Value Apartments for Rent in Old Town, IL

As of December 27, 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 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
1221 N. LaSalle LoftsStoreFrontStudio ,2BA$2.00
The Archer2BR/2.0BA2BR,2BA$2.92
Acclaim on North Avenue2 Bedroom 2 Bath Market2BR,2BA$2.46
1254 N La Salle Dr, Unit f51254 N La Salle Dr2BR,2BA$3.05
1214 N La Salle Dr, Unit F51214 N La Salle Dr2BR,2BA$3.72
1212 N La Salle Dr, Unit 51212 N La Salle Dr2BR,2BA$3.35
206 W Division St, Unit 2F206 W Division St1BR,1BA$2.63
1308 N La Salle Dr, Unit #3B1308 N La Salle DrStudio ,1BA$3.55

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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The 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.

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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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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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Quick 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 Lifestyle
Old Town, Chicago, IL

Ranked #43

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Frequently Asked Questions about Old Town

What type of rentals are currently available in Old Town?

There are currently 160 Apartments for Rent in Old Town, IL with pricing that ranges from $1,600 to $23,973. There are also 72 Single Family Homes for rent, Condos, and Townhome rentals currently available in Old Town ranging from $1,750 to $10,800.

What is the current price range for Rental Homes in Old Town?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Old Town ranges from $1,750 to $10,800 with an average monthly rent of $4,873.

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

Written by: Nicole Harms

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

Articles, How-To's, and Tips

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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!