Cheap Homes for Rent in Old Town Neighborhood of Chicago, IL from $1,800 (21 Rentals)

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

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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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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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 $1,993. 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 LoftsDS1Studio,1BA$1,993
SoNo EastRStudio,1BA$2,211
Windsor North + VineS2Studio,1BA$2,365
1225 Old TownConvertibleStudio,1BA$2,621

Best Value Apartments for Rent in Old Town, IL

As of July 30, 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 1520 N Sedgwick St Model at 1520 N Sedgwick St, Unit 4b starting at $5,250 with a $2.69 price per square foot in the Parc Chesnut 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
1520 N Sedgwick St, Unit 4b1520 N Sedgwick St3BR,2BA$2.69
407 W North Ave, Unit 5E407 W North Ave3BR,2BA$2.40
1332 N Cleveland Ave, Unit 11332 N Cleveland Ave3BR,3BA$2.59
1221 N. LaSalle LoftsStoreFrontStudio ,2BA$2.00
241 W Scott St, Unit 1241 W Scott St3BR,2BA$2.56
1502 N Hudson Ave, Unit 31502 N Hudson Ave2BR,1BA$3.01
206 W Division St, Unit 2F206 W Division St1BR,1BA$2.63
1308 N La Salle Dr, Unit #2G1308 N La Salle DrStudio ,1BA$3.81
245 W North Ave, Unit 112245 W North AveStudio ,1BA$2.68

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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Frequently Asked Questions about Old Town

What type of rentals are currently available in Old Town?

There are currently 167 Apartments for Rent in Old Town, IL with pricing that ranges from $1,195 to $23,973. There are also 91 Single Family Homes for rent, Condos, and Townhome rentals currently available in Old Town ranging from $1,819 to $9,500.

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 $1,819 to $9,500 with an average monthly rent of $3,403.

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.

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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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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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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.