Streeterville is one of Chicago’s most vibrant and desirable neighborhoods. Nestled along Lake Michigan and adjacent to the downtown Loop, it offers stunning waterfront views, countless attractions, and easy access to the heart of the city. However, its reputation comes with a cost—finding affordable living options here can be a challenge.

Fortunately, if you know where to look, Streeterville offers apartment buildings that combine the perks of the area with price points that won’t break the bank. This blog dives into the most affordable apartment buildings in Streeterville, helping you find your next home while keeping your budget intact.

Why Live in Streeterville?

Before we explore affordable housing options, it’s worth highlighting why this location is so popular:

• A Lifestyle Hub: With landmarks like Navy Pier, the Museum of Contemporary Art, and the Magnificent Mile, Streeterville is a cultural hotspot filled with endless dining, shopping, and entertainment options.
• Lakefront Living: Residents enjoy immediate access to the lakefront trail, beaches, and breathtaking views of Lake Michigan. It’s the perfect balance of urban living and waterfront serenity.
• Walkability: Streeterville boasts a Walk Score of 97, making it a pedestrian’s paradise with grocery stores, gyms, restaurants, and even schools just steps away from most buildings.
• Convenient Transportation: The area is well-connected with public transport, and bikeability is high, making it ideal for those commuting to the Loop or beyond.

But what makes this neighborhood truly special is that while luxury dominates much of its real estate, affordable gems exist for those willing to do some searching.

218 E. Grand

The first building on our list is as grand as the iconic street it occupies. The Saint Grand, completed in 2024 by the acclaimed local architecture firm Norr, quickly attracted prospective renters eager to secure a spot for viewings. Offering 248 units, this impressive number includes a variety of floor plans. However, those seeking a one-bedroom option for under $2,500 a month will find limited availability.

The 1715 floor plan is ideal for budget-conscious individuals, boasting stainless steel appliances, quartz countertops, hardwood floors, walk-out balconies, high ceilings, and floor-to-ceiling windows, standard in all residences. Additionally, tenants enjoy access to an array of amenities in this mixed-use development. A welcoming concierge invites you to explore the on-site fitness center, coworking lounge, rooftop pool, yoga studio, and a tenants-only lounge on the 21st floor. The Saint Grand is both pet-friendly and electric vehicle-friendly, featuring a dog run and a Tesla-branded EV charging station.

North Water Apartments

• Address: 340 E North Water St
• Average Rent: $1,700 – $3,500/month

This spot is perfect for anyone seeking a mix of affordability and chic living. Residents of the North Water apartment building love the stunning city and river views from the higher floors.

What’s Included? Community amenities include concierge services, a lounge, and even a dog spa.

401 E. Ontario

Among the standout additions of the 1990s, 401 E. Ontario has solidified its reputation as a premier apartment complex in Streeterville with its multi-decade presence. This towering, beige-facade structure rises 48 stories high, housing 394 units. Residents can enjoy breathtaking views from the rooftop pool overlooking the lake, regardless of their floor. The building offers a wealth of amenities, including a fitness center, laundry facilities, on-site parking, and controlled access, all waiting to be discovered.

With rental rates starting at an accessible $2,100 per month, residents gain entry to this convenient lifestyle. Suites start at a generous 750 square feet, featuring at least one bedroom, with larger two- and three-bedroom options available for those willing to invest more. Residing at 401 E. Ontario means embracing an address synonymous with the vibrant life of the Windy City. Situated in Streeterville, the location provides easy access to downtown attractions, including Michigan Avenue shopping, Navy Pier entertainment, Northwestern Memorial Hospital, and a variety of both enjoyable and practical destinations.

420 E. Ohio

Despite what TV shows might suggest, enjoying a stunning view doesn’t have to break the bank. At 420 E. Ohio, you can rent apartments with spectacular city and lake views affordably, whether you’re looking for a short-term or long-term stay. This Energy Star-rated community offers studio, one-bedroom, two-bedroom, and three-bedroom apartments, with two-bedroom units starting at just over $2,000 per month.

This price grants access to high-end features throughout each floor plan, including granite countertops, stainless steel appliances, walk-in closets, walk-out patios, hardwood flooring, instant hot water, high-speed internet, and expansive windows. If a unit’s view isn’t sufficient, the shared sundeck provides panoramic vistas. The building also boasts a fitness center, picnic area, dog park, pool, conference rooms, corporate suites, pet play area, bicycle storage, EV charging stations, and laundry facilities. Beyond infrastructure, residents benefit from a dedicated concierge, door staff, housekeeping services, on-site maintenance technician, and on-site management.

Cityfront Place

• Address: 400 N McClurg Ct
• Average Rent: $1,500 – $2,500/month

Cityfront Place is a strong contender for affordable living in the heart of Streeterville. With a mix of studio, one-bedroom, and two-bedroom apartments, it caters to a variety of budgets.

What’s Included? Expect modern designs, in-unit washers and dryers, and fitness amenities. Residents particularly love the prime location that offers easy access to Michigan Avenue.

Why It’s Affordable: Rent prices are competitive for the neighborhood without skimping on must-have amenities.

Moment Chicago

Don’t overlook McClurg Court in your search for an affordable Streeterville apartment. This pet-friendly building is among several excellent, budget-friendly options that many renters miss. The Moment apartment building, built in 2016 near E Grand Avenue, is a 45-story high-rise with 490 residences ranging from studios to three-bedroom units, all at least 500 square feet. A variety of floor plans offer different sizes and prices, with rentals starting around $2,100 per month and larger units available for a few thousand more. Designed to LEED Silver standards, each home is energy-efficient and environmentally conscious. Interiors feature luxurious touches like pearl quartz countertops in kitchens and baths, grey-tone plank flooring, marble mosaic backsplashes, floor-to-ceiling windows with custom shades, and stainless steel KitchenAid appliances.

At 545 N. McClurg, you’ll find amenities that are rare even in luxury condos, let alone cost-effective buildings. Enjoy downtime in the Mind + Body Wellness spa, practice yoga in the Meditate studio, or swim in the Elevate rooftop pool. The building offers four unique lounges—Lake, Avenue, City, and Garden—each providing a distinct atmosphere for relaxation and socializing. Additional on-site amenities include a fitness center, bike storage, a media theater, an entertainment gallery, a pet spa, a garden, and a lounge.

The Lofts at River East

• Address: 401 E Illinois St
• Average Rent: $1,800 – $3,200/month

For those who love a mix of modern luxury and historic charm, The Lofts at River East delivers. It’s slightly pricier than other options, but the unique loft aesthetic and exposed brick justify the cost.

Why It’s Affordable: Flexible lease terms allow individuals to save compared to pricier long-term stays. Studios and co-living options offer surprisingly affordable rates for Streeterville.