Cheap Apartments for Rent in the West Loop Neighborhood of Chicago, IL from $1,000 (46 Rentals)

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Search the lowest-cost Apartments available for rent right now in the West 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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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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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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Illume
Studio to 3 Bedroom Apartments

Illume

111 S Peoria StChicago, IL 60607
Furnished
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R+D659
Studio to 4 Bedroom Apartments

R+D659

645-659 W Randolph StChicago, IL 60661
Furnished
  • Smoke Free
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Luxury condo unit
Studio to 3 Bedroom Apartments

Luxury condo unit

333 N CanalChicago, IL 60606
Corporate Housing
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Lake Street Lofts
1 to 2 Bedroom Apartments

Lake Street Lofts

910 W Lake StChicago, IL 60607
Corporate Housing
  • Utilities Included
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1039 Grand Ave
3 Bedroom Apartments

1039 Grand Ave

1039 W Grand AveChicago, IL 60642
  • Utilities Included
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Reside on Green Street
Studio to 3 Bedroom Apartments

Reside on Green Street

500 N Milwaukee AveChicago, IL 60642
  • Utilities Included

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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713 Milwaukee
1 to 3 Bedroom Apartments

713 Milwaukee

713 N Milwaukee AveChicago, IL 60642
Showing Results 1-46, Page 1 of 1

West Loop, Chicago, IL Local Guide

Cheapest Available West Loop Apartments for Rent

 

The cheapest available apartment rental in the West Loop area of Chicago, IL is a Studio unit found at Elm 551 at Parkside priced from $1,313. 768 W. Jackson has the second lowest priced unit, which is a Studio apartment currently listed from $1,425. Here are the most affordable West Loop apartments for rent in Chicago, IL:

Apartment ListingModel NameBed/BathPriced From
Elm 551 at ParksideStudioStudio,1BA$1,313
768 W. JacksonStudioStudio,1BA$1,425
Presidential TowersSTUDIO FIVEStudio,1BA$1,615
Hugo River NorthStudioStudio,2BA$1,788
Inspire West Townx07 Studio - 1 BathStudio,1BA$1,910
Reside on Green StreetS4 - 505Studio,1BA$1,963
AltaWest 09 & 10Studio,1BA$1,965
Seven 10 West412 (RELET)Studio,1BA$2,015
The JaxJ1 Studio, TerraceStudio,1BA$2,058
Luxe on MadisonS1Studio,1BA$2,087

Best Value Apartments for Rent in West Loop, IL

As of December 20, 2025 the best value apartment in the West Loop area is the $1.85 price per square foot 724 N Willard Ct Model at 724 N Willard Ct, Unit 2 in the in the West Town neighborhood starting from $3,895. The second greatest value West Loop apartment is the 1008 W Lake St Model at 1008 W Lake St, Unit 2 starting at $5,600 with a $2.67 price per square foot in the Parc Chesnut neighborhood. Here is today’s list of the best values for West Loop apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
724 N Willard Ct, Unit 2724 N Willard Ct3BR,2.5BA$1.85
1008 W Lake St, Unit 21008 W Lake St1BR,1.5BA$2.67
1008 W Lake St, Unit 21008 W Lake St1BR,1.5BA$2.67
724 N Willard Ct, Unit J03W724 N Willard Ct3BR,2.5BA$1.85
FultonHub3BR/2.0BA3BR,2BA$2.48
229 S Racine Ave, Unit 1229 S Racine Ave2BR,2BA$2.06
821 W Van Buren St, Unit 2821 W Van Buren St2BR,1BA$2.23
110 N Peoria St, Unit A01C110 N Peoria St1BR,1BA$2.18
942 N Elston Ave, Unit 2R942 N Elston Ave2BR,2BA$2.14
Elm 551 at ParksideOne Bedroom1BR,1BA$2.67

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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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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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
West Loop, Chicago, IL

Ranked #18

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of neighborhoods, metropolitan areas, and rental properties across Illinois, including Chicago. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including filtering automatically for convenient access to the outdoors, luxury housing options, pet-friendly features, family-friendly amenities, proximity to transit, and much more. These search options are in the site filters at the top of this page.

Getting Around the West Loop Neighborhood in Chicago, IL

Walk Score®

95 / 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®

85 / 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 West Loop Apartments

What is a cheap apartment in West Loop?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in West Loop is under $2,087.

What is the price of a cheap apartment in West Loop?

The cheapest apartment in West Loop is Elm 551 at Parkside which is listed at $1,725, while the average apartment in West Loop costs $24,905.

What types of apartments are the cheapest in West Loop?

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 106 regular apartments in West Loop 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 West Loop?

Cheap apartments in West Loop have an average cost of $456 which is $24,449 cheaper than the average rent for all rentals in West Loop.

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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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! 

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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.