Note: Properties with the Total Monthly Price badge include all required fees. Tap the badge for more details.
-

Bedrooms

Bathrooms

Deals & Discount Filters
All Filters

Deals & Discounts

Price Range

–

Beds & Baths

Beds

Baths

Home Type

Pet Policy

Interior & Community Amenities

Speciality Housing

Keyword Search

Cheap Apartments for Rent in Magnificent Mile

1,411 Rentals
.
  2. Building Photo - 25 E. Delaware
    Exceptional Value
    STUDIO
    $1,395

    25 E. Delaware

    25 E Delaware Pl, Chicago, IL 60611
  3. Building Photo - 1036 N. Dearborn
    Exceptional Value
    STUDIO
    $1,395+
    1 BED
    $1,925+

    1036 N. Dearborn

    1036 N Dearborn St, Chicago, IL 60610
  7. Building Photo - 55 E Erie St
    Exceptional Value
    STUDIO
    $1,470+
    1 BED
    $1,905+
    2 BEDS
    $2,935+
    3 BEDS
    $4,125+

    55 E Erie St

    55 E Erie St, Chicago, IL 60611
  8. Building Photo - 18 E. Elm
    Exceptional Value
    STUDIO
    $1,475+
    1 BED
    $1,925+

    18 E. Elm

    18 E Elm St, Chicago, IL 60611
  10. Building Photo - 244 E. Pearson
    STUDIO
    $1,675+
    1 BED
    $2,245+

    244 E. Pearson

    244 E. Pearson St, Chicago, IL 60611
  15. 1-BR/1BA Living Area - 55 W. Chestnut
    STUDIO
    $1,955+
    1 BED
    $2,139+
    2 BEDS
    $3,223+
    Total Monthly Price Total Monthly Price New
    Base Rent$1,789 - $3,323
    Utilities & EssentialsVaries
    Total Monthly Price$1,955 - $3,223

    55 W. Chestnut

    55 W Chestnut St, Chicago, IL 60610
    (708) 919-3098
  18. Building Photo - 440 N Wabash Ave
    STUDIO, 1 BATH
    $1,800
    Total Monthly Price Total Monthly Price New
    Base Rent$1,800
    Required Monthly FeesNone
    Total Monthly Price$1,800

    440 N Wabash Ave Unit 510

    440 N Wabash Ave, Chicago, IL 60611
  19. Rooftop Pool - 1133 N. Dearborn
    STUDIO
    $1,982+
    1 BED
    $2,091+
    2 BEDS
    $3,329+
    Total Monthly Price Total Monthly Price New
    Base Rent$1,863 - $4,058
    Required Monthly Fees$7
    Utilities & EssentialsVaries
    Total Monthly Price$1,982 - $4,065

    1133 N. Dearborn

    1133 N Dearborn St, Chicago, IL 60610
    (708) 683-4519
  22. Building Photo - 70 W Huron St
    STUDIO, 1 BATH
    $1,950
    Total Monthly Price Total Monthly Price New
    Base Rent$1,950
    Required Monthly FeesNone
    Total Monthly Price$1,950

    70 W Huron St Unit 12

    70 W Huron St, Chicago, IL 60654
  27. Building Photo - 111 E Chestnut St
    1 BED, 1 BATH
    $1,975+
    3 BEDS, 1 BATH
    $4,650+
    Total Monthly Price Total Monthly Price New
    Base Rent$1,975 - $4,650
    Required Monthly FeesNone
    Total Monthly Price$1,975 - $4,650

    111 E Chestnut St

    111 E Chestnut St, Chicago, IL 60611
  32. Building Photo - 440 N Wabash Ave
    1 BED, 1 BATH
    $2,050
    Total Monthly Price Total Monthly Price New
    Base Rent$2,050
    Required Monthly FeesNone
    Total Monthly Price$2,050

    440 N Wabash Ave Unit 01707

    440 N Wabash Ave, Chicago, IL 60611
  34. Building Photo - 106 W Chicago Ave
    Rent Special
    Rent Special
    1 BED, 1 BATH
    $2,065
    Total Monthly Price Total Monthly Price New
    Base Rent$2,065
    Required Monthly FeesNone
    Total Monthly Price$2,065

    106 W Chicago Ave Unit 304

    106 W Chicago Ave, Chicago, IL 60654
  35. Building Photo - 320 N. Michigan
    Exceptional Value
    STUDIO
    $2,095+
    1 BED
    $2,195+

    320 N. Michigan

    320 N Michigan Ave, Chicago, IL 60601
  36. 1 BED, 1 BATH
    $2,100
    Total Monthly Price Total Monthly Price New
    Base Rent$2,100 - $2,250
    Required Monthly FeesNone
    Total Monthly Price$2,100 - $2,250

    401 E Ontario St

    401 E Ontario St, Chicago, IL 60611
  38. Building Photo - Eight O Five
    STUDIO
    $2,131+
    1 BED
    $3,138+
    2 BEDS
    $4,380+

    Eight O Five

    805 N LaSalle Dr, Chicago, IL 60610
  39. Building Photo - The Bush Temple II
    Rent Special
    Rent Special
    STUDIO
    $2,132+
    1 BED
    $2,695+

    The Bush Temple II

    810 N Clark St, Chicago, IL 60610
  42. Building Photo - 535 N Michigan Ave
    STUDIO, 1 BATH
    $2,150
    Total Monthly Price Total Monthly Price New
    Base Rent$2,150
    Required Monthly FeesNone
    Total Monthly Price$2,150

    535 N Michigan Ave Unit 2507

    535 N Michigan Ave, Chicago, IL 60611
Showing 42 of 315 results, Page 1 of 8

Chicago at a Glance

Average Rent

N/A
(All bedrooms and property types)
0

School Rating

out of 10 Rating
Learn more about
Schools in Chicago

Cheap Apartments in Magnificent Mile Neighborhood in Chicago, IL

When looking for cheap apartments in Magnificent Mile, Apartment Finder is your deal-hunting partner. Whether you’re looking for a studio, a one-bedroom, or a two-bedroom apartment, you want the best place at the right price. We have a great selection of budget-friendly apartments for rent, and we’ll show you which apartments offer the best value when compared to other apartments in Magnificent Mile.

Finding a rental that fits your budget without compromising on quality can seem like a challenge, but Apartment Finder makes it easy to discover cheap apartments with all the features you want. To find an apartment you can afford, try looking in less popular neighborhoods outside of the city center. Timing is everything when searching for rentals that are affordable, so look at different times of the day, different days of the week and (if you can wait) certain months like December through March. When you find an apartment with a great price, don’t hesitate! Cheap apartments tend to go very quickly.

Affordability doens't have to equal sacrifice. While it’s important to be flexible, you might not have to give up as much as you think. You can find a cheap apartment for rent, complete with must-have amenities such as paid utilities and an in-unit washer and dryer. Click on any of these properties to see photos and floor plans, read reviews, check out the rent calculator, and learn more about the neighborhood with information on nearby parks, shopping malls, and transit stops. With 315 cheap apartments available in Magnificent Mile, Apartment Finder is the place to find your next rental.

Top Budget-Friendly Neighborhoods in Chicago

(For 1 bedroom apartments)

Education

Data provided by GreatSchools.org 2025 © 2025. All rights reserved.

tooltips


I would like to...
0 out of 400 characters
By clicking above, you agree we may pass along your info so this property or the property’s affiliates can email, call, text, or autodial you to follow up and for any purpose. You also agree to... By clicking above, you agree we may pass along your info so this property or the property’s affiliates can email, call, text, or autodial you to follow up and for any purpose. You also agree to Apartmentfinder.com’s Privacy Statement and Terms of Service. Consent is not a condition for services. Message and data rates may apply. Read More Read Less

Submitting Request

Thank You

Your email has been sent.

Learn about our ratings.