It doesn’t get any better than an address in Chicago’s Loop! Walk out your doors to nearby shopping, dining, plays, nightlife, historic sites, iconic destinations such as Willis Tower, and more. Because the Loop is in the heart of the city, you’re virtually minutes from anywhere you need to go. Are you interested in exploring luxury living here in the middle of it all? Curious about the average rent in the Loop, Chicago?
Here’s a look at what you can expect from rent prices — and how that compares to the rest of the city.
Obviously, prices vary from building to building and street to street, even within the same Chicago neighborhood. Generally, however, the average rent price in the Loop runs about 33 percent higher than elsewhere in the city. Across apartment sizes, the typical price is $2,396 — $1,814 for a studio; $2,183 for a one-bedroom; $3,156 for a two-bedroom; and more than $4,000 for a three-bedroom. This average reflects the desirability of living in one of the best areas of the city, a location that makes commuting convenient.
Average Chicago Loop rent prices are, in fact, lower than the city’s most prestigious neighborhoods: River North, River West and Streeterville. They’re higher than almost every other Chicago neighborhood, however. To give you a better idea of how rent prices in the Loop compare to other areas, on average, they tend to be 80 percent higher than Hyde Park and 120 percent higher than Uptown.
Neighborhoods closer to downtown rank nearer its averages: Near West Side is 9 percent lower, and Near North Side is 6 percent lower. As you’d probably expect, the closer a luxury location puts you to the city’s biggest amenities, the greater its appeal — and price tag.
Are you interested in moving to Chicago’s Loop? Ready to walk to weekend brunches and enjoy a quick commute to work each day? When you’re looking to make one of Chicago’s hottest communities your new home, browse our current luxury apartment rentals in the Loop! Let us help you find the perfect downtown address.