Cheap Homes for Rent in South Loop Neighborhood of Chicago, IL from $900 (49 Rentals)

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Search the lowest-cost Homes available for rent right now in the South Loop 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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property at 40 E 9th St

40 E 9th St

ChicagoIL60605

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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property at 871 S Clark St

871 S Clark St

ChicagoIL60605

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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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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property at 712 S Wells St

712 S Wells St

ChicagoIL60607

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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Showing Results 1-49, Page 1 of 1

Cheapest Available South Loop Apartments for Rent

 

The cheapest available apartment rental in the South Loop area of Chicago, IL is a 1 Bed unit found at Prairie CoLiving priced from $1,122. McCormick CoLiving has the second lowest priced unit, which is a 4 Beds apartment currently listed from $1,147. Here are the most affordable South Loop apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Prairie CoLivingPrivate bedroom with en-suite bathroom1BR,1BA$1,122
McCormick CoLivingEnsuite4BR,3BA$1,147
Roosevelt Square1 Bedroom1BR,1BA$1,650
820 Michigan by 3L LivingStudio NorthStudio,1BA$1,729
21st Street Lofts by 3L LivingOne Bed Loft - E1BR,1BA$1,739
2101 MichiganStudioStudio,1BA$1,744
30 East RooseveltER_1x11BR,1BA$1,750
1935 S Canalport AveApartment 3 Bedroom3BR,2BA$1,825
The CooperStudio-1AStudio,1BA$1,895

Best Value Apartments for Rent in South Loop, IL

As of October 23, 2025 the best value apartment in the South Loop area is the $0.93 price per square foot Apartment 3 Bedroom Model at 1935 S Canalport Ave in the in the South Loop neighborhood starting from $1,825. The second greatest value South Loop apartment is the 3 BED 2 BATH Model at Carriage House Lofts starting at $3,477 with a $2.33 price per square foot in the Near South Side neighborhood. Here is today’s list of the best values for South Loop apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1935 S Canalport AveApartment 3 Bedroom3BR,2.5BA$0.93
Carriage House Lofts3 BED 2 BATH3BR,2BA$2.33
1462 S Michigan Ave, Unit 22031462 S Michigan Ave2BR,2BA$2.29
2605 S Indiana Ave, Unit 10052605 S Indiana Ave1BR,1BA$1.41
731 Plymouth by 3L Living2 Bedroom East2BR,1BA$2.21
320 E 21st St, Unit 503320 E 21st St2BR,1BA$2.75
600 S Dearborn St, Unit 2012600 S Dearborn St1BR,1BA$2.00
680 S Federal St, Unit Apt 808680 S Federal St1BR,1BA$2.25
1136 S Delano Ct W, Unit E2421136 S Delano Ct W2BR,2BA$2.76
Roosevelt Square1 Bedroom1BR,1BA$2.24

Frequently Asked Questions about South Loop

What type of rentals are currently available in South Loop?

There are currently 280 Apartments for Rent in South Loop, IL with pricing that ranges from $1,235 to $34,700. There are also 296 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Loop ranging from $980 to $8,250.

What is the current price range for Rental Homes in South Loop?

Today's rental pricing for Homes for Rent, Condos and Townhomes in South Loop ranges from $980 to $8,250 with an average monthly rent of $2,694.

How much are larger Three and Four Bedroom Rentals in South Loop?

For those who are looking for larger living arrangements, Three Bedroom Apartments in South Loop range from $1,825 to $20,361, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,100 to $6,752. Four Bedroom Single-Family rentals are also available starting from $980 and Four Bedroom Apartments start at $1,275.

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.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago article

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

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.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

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.