Cheap Homes for Rent in South Loop Neighborhood of Chicago, IL from $1,300 (72 Rentals)

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

property at 40 E 9th St

40 E 9th St

ChicagoIL60605

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 899 S Plymouth Ct

899 S Plymouth Ct

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 740 S Federal St

740 S Federal St

ChicagoIL60605

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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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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property at 700 S Clark St

700 S Clark St

ChicagoIL60605

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 1-50, Page 1 of 2

Cheapest Available South Loop Apartments for Rent

 

The cheapest available apartment rental in the South Loop area of Chicago, IL is a 4 Beds unit found at McCormick CoLiving priced from $1,147. Prairie CoLiving has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,350. Here are the most affordable South Loop apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
McCormick CoLivingEnsuite4BR,3BA$1,147
Prairie CoLivingPrivate bedroom with en-suite bathroom1BR,1BA$1,350
Eleven40S1Studio,1BA$1,699
21st Street Lofts by 3L LivingOne Bed Loft - E1BR,1BA$1,739
2101 MichiganStudioStudio,1BA$1,744
30 East RooseveltER_1x11BR,1BA$1,750
777 South StateConvertible StudioStudio,1BA$1,755
1935 S Canalport AveApartment 3 Bedroom3BR,2BA$1,825
1407 on MichiganS5Studio,1BA$1,858

Best Value Apartments for Rent in South Loop, IL

As of December 07, 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 2 BED 2 BATH LOFT STYLE Model at Carriage House Lofts starting at $2,653 with a $2.27 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 Lofts2 BED 2 BATH LOFT STYLE2BR,2BA$2.27
240 W 24th St, Unit 2R240 W 24th St3BR,1BA$1.62
Wells Place Apartments2 Bed 2 Bath B12BR,2BA$2.70
2310 S Canal St, Unit 2032310 S Canal St2BR,1BA$2.15
731 Plymouth by 3L Living2 Bedroom West2BR,1BA$2.18
680 S Federal St, Unit Apt 808680 S Federal St1BR,1BA$2.25
1401 S. StateA14-R1BR,1BA$2.92
The ShelbyA21BR,1BA$2.86
The Regal Apartments1 Bedroom Loft Floor Plan A11BR,1BA$2.83

Frequently Asked Questions about South Loop

What type of rentals are currently available in South Loop?

There are currently 274 Apartments for Rent in South Loop, IL with pricing that ranges from $1,350 to $31,202. There are also 288 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Loop ranging from $1,380 to $10,900.

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 $1,380 to $10,900 with an average monthly rent of $4,706.

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 $1,780 to $20,163, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,650 to $7,300. Four Bedroom Single-Family rentals are also available starting from $1,380 and Four Bedroom Apartments start at $9,149.

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 Renting with Roommates: Realistic Expectations for Shared Lease article

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.

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!