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Renting for Less in the Windy City: 5 Chicago Apartments Around $1,200/Month

Apartments for rent in Chicago

Chi-town doesn’t just have the best pizza on the planet (sorry, New Yorkers); it also takes one of the top spots for Forbes’ “Most Livable Cities in the US”. Chicago’s central location makes it a major hub of industry, business, and finance – a global city all around. It’s even the number one metro in the world for female entrepreneurs. From Wrigley Field to Millennium Park, from its stunning and ever-changing skyline to a stretch of beaches, Chicago may be called the Second City, but it’s second to none.

The Windy City’s average rent isn’t quite as mind-boggling as San Francisco’s or New York’s, but it still sits way above the national average. Rent falls around $1,648/month according to Yardi Matrix, but we’ve done some digging, knocked a few hundred dollars off, and found five awesome, affordable apartments for rent in Chicago you can get at a more affordable budget.

From studios to 2-bed units, this is what $1,200/month rents you in Chi-town:

Twin Towers, East Hyde Park: $1,145/month for a studio, 416 sq. ft.

Just steps away from the vibrant heart of Hyde Park and a few blocks from the banks of Lake Michigan, the Twin Towers Apartments feature an awesome location with spectacular views of the waterfront and the park. These modern, high-rise studio apartments offer large windows, wall-to-wall carpeting, all electric kitchens, and extra storage for all your belongings. Heat and AC are included in your rent as an added bonus. The building boasts a business center, fitness center, and laundry room – all brand new. Public transportation options – like Lake Shore Drive, Metra, and CTA – are all accessible nearby.

Twin Towers Apartments in Chicago
$1,145/month for a studio at Twin Towers, Chicago. Images via RENTCafe.

Somerset Place Apartments, Margate Park: $1,299/month for a studio, 537 sq. ft.

If you’re looking for luxury at a convenient price, look no further than the newly renovated Somerset Place Apartments in Uptown. You can choose between studios, one-, or two-bedroom apartments that feature upscale amenities, like custom crown molding, hardwood flooring, rain shower systems, and even USB outlets in every kitchen. There’s free high speed Internet throughout the historic building and a flurry of community features as well. Residents enjoy views of Lake Michigan from the Skydeck, exclusive access to the TechnoGym fitness center, a fully equipped party room, and a lounge area. The community is well served by public transportation, by bus or the CTA Red Line that runs from the Loop through Uptown (Wilson, Lawrence, Argyle).

Somerset Place Apartments for rent in Chicago
$1,299/month for a studio at Somerset Place Apartments, Chicago. Images via RENTCafe

Scholars Corner Apartments, East Hyde Park: $1,072 month for a 1-bed apartment, 685 sq. ft.

Lake Michigan, the University of Chicago, shopping, and restaurants are all just steps away from the Scholars Corner Apartments. These renovated 1-bedroom units welcome you with defined foyers, hardwood floors, and stunning lake and city views, with the added option of furnished apartments. Other perks, like eat-in kitchens, designer paint finishes, and plush carpeting, are standard features. For the tech-savvy renter, or just anyone who enjoys modern conveniences, there’s an electronic entry system and online rent payment options. If you want to work out, the on-site fitness center is available 24 hours.

Scholars Corner Apartments,
$1,072/month for a one-bedroom apartment at Scholars Corner Apartments in Chicago. Images via RENTCafe.

York Terrace Apartments, South CommonsSouth Side Chicago: $1,030/month for a 1-bed and $1,349 for a 2-bed apartment, 784 sq. ft.

The spacious 2-bedroom apartments at York Terrace are slightly over budget, but the community also features more affordable options: studios and 1-bedroom units. 3- and 4-bedroom townhouse apartments are available as well for those looking for more space. The 21-story tower and two 5-story mid-rise buildings offer fabulous views of the skyline and lake, great apartments with fully equipped kitchens, and a pet-friendly policy to boot. Everything you need is nearby in Chicago’s new south side, as Downtown and Expressway are just minutes away.

York Terrace Apartments for rent in Chicago
$1,030/month for a one-bedroom and $1,349/month for a two-bedroom apartment at York Terrace, Chicago. Images via RENTCafe.

Times Square Apartments, Buena ParkNorth Side Chicago: $1,264/month for a 1-bed unit, 530 sq. ft.

Renting is easier when you can pay rent online, the heat and water are included, and there’s no security deposit required. You’ll find all these conveniences at the Times Square Apartments in Buena Park. All 1-bedroom apartments boast newly remodeled kitchens and bathrooms, hardwood floors, and designer paint finishes. With ground floor retail shops, a bus to downtown at your doorstep, and nearby attractions like Wrigley Field and Montrose Beach, everything you need is at your fingertips.

Times Square Apartments in Chicago
$1,059/month for a one-bedroom apartment at Times Square Apartments, Chicago. Images via RENTCafe.

Whether you’re here for the pizza, or tackling the world of entrepreneurship, the Windy City has a little bit of something for everyone. Check out more amazing apartments for rent in Chicago or the city’s suburbs to find your perfect fit and new home.  

Do you want to rent? 

Finding the perfect home is not an easy task, so make sure to explore all your options. There are many affordable apartments for rent under $600 in Chicago. However, if you’re willing to splurge a little, browse a generous selection of apartments under $800. Expand your choices even more and take a look at all the amazing apartments available under $1,000 in Chicago. You can see all the options in the list below.

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About the author

Nicky Iudean

Nicky is a Senior Communications Specialist for RENTCafé.com, where she researches and writes about real estate, interior design, and all things that spark renters’ interests. She is also your go-to person for content collaborations. Nicky double majored in Marketing and Applied Economics and holds a master's degree in Marketing Strategies and Policies. You can reach her via email at nicky.rentcafe@yardi.com.

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