Renter’s Guide to South Loop
South Loop is a quiet neighborhood just two miles outside Downtown Chicago, with approximately 98,000 residents. It buts up against Printers Row, and is also close to Chinatown and Bronzeville. The “Best City in the World,” according to Time Out, Chicago is affordable, diverse, and has a strong economy, anchored by the numerous international and national corporations that call the city their home. In fact, Chicago is second only to New York City’s Manhattan for being the largest commercial business district in the country. Some of the many perks of living in and around Chicago include access to Lake Michigan, to top restaurants, world-class entertainment, cultural, and educational opportunities.
South Loop, Chicago, IL Demographics
- Total Population22,425
Female 10,870Male 11,555
- Median Age33.6
Cost of Living in South Loop
Although the cost is a little higher than the national average, living in and around Chicago is actually affordable. In South Loop, the cost of basic utilities for a 900-square-foot apartment is about $180 per month. And because food is king, you should know that a meal for two in a sit-down casual restaurant with 3 courses hovers around $60. South Loop is within walking distance from Downtown, as well as from many other popular sites, but it is also close to several public transportation options. Getting around on the CTA Blue Line starts at $2.25 one-way, or take the METRA rail system for $2.75 and up.
Average Rent in South Loop, Chicago, IL
- South Loop, Chicago, IL Average Rental Price, January 2020 $2,126 /mo
South Loop, Chicago, IL Apartment Rent Ranges
- > $2,00048%
South Loop, Chicago, IL Rent Trends
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Check out the average rent in Chicago.
Living in South Loop, Chicago
Living in the South Loop means being close to everything the city has to offer. One of the biggest advantages of living in the South Loop lies in its proximity to downtown, and the ease with which commuters can get back and forth to work. Most young residents would say that a disadvantage of living in the South Loop is that it’s too quiet and there’s no nightlife. As for the older ones, this is listed among the major perks of living in this area.
Things to do in South Loop, Chicago
There is no shortage of things to do in the South Loop. For things to do with the family, a visit to Adler Planetarium and its Sky Theater for virtual-reality space trips is a must. Other fun family activities are skating the ramps at Grant Park Skate Plaza, or kayaking at Ping Tom Memorial Park. Football fans need look no further than Soldier Field for a Bears game. Also, you should know that one of the best fine dining restaurants in all of Chicago is Acadia in the South Loop. For more casual fare, check out the Devil Dawgs South Loop location, then head to Little Branch Cafe for dessert.
Employment and Economy
With an unemployment rate that continues to fall thanks to tech jobs and the numerous companies that have a homebase in Chicago, living in South Loop makes economic sense. It also means having a short commute into work. Chase Bank, United Airlines, Blue Cross and Blue Shield, and Morton Salt all have headquarters downtown.
South Loop, Chicago, IL Households
- Total Number of Households10,183
Family 4,111Non-family 6,072
Children 1,624No Children 8,559
- Average People Per Household2.03
- Median Household Income$92,240
- Median Housing Costs Per Month$1,913
Education in South Loop
The South Loop’s schools are in the Chicago Public Schools system. Jones College Prep High School was ranked the third-best in the state, and 110th in the nation in the U.S. News & World Report annual ranking of the best schools in the country. South Loop is also home to Columbia College Chicago, which is one of several higher learning institutions in the city.
South Loop, Chicago, IL Education Statistics
- No High School5%
- Some High School20%
- Some College14%
- Associate Degree4%
- Bachelor Degree30%
- Graduate Degree26%
Tips for renting in South Loop
The Chicago Residential Landlord Tenant Ordinance protects renter’s rights in South Loop. The legislation specifies the responsibilities of both landlords and tenants, and includes rules about what constitutes timely repairs, how much notification is required prior to termination of a lease, and how much interest can be paid on security deposits not returned within 30 days of moving out.
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