5+ Days Ago
Highlights
Pet Friendly
- Pantry closets, linen closet
- Entertainment club room
- Modern kitchen, stainless steel appliances
Location
1240 S Michigan Ave, Chicago, IL 60605, USA|South Loop
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Property Overview
Modern kitchen finishes with stainless steel appliances, pantry closets, and a linen closet support organized everyday living. An entertainment club room and contemporary amenities make it appealing for those who enjoy hosting, relaxing on-site, or working from attractive shared spaces. The combination of practical storage and social-focused common areas creates a balanced, convenient urban home base.
This summary uses Zumper’s proprietary data. “Things you’ll love” and “Great for” are based on our internal analyses of market trends and renter insights.
Things you’ll love
Elementary school nearby- Middle school nearby
- Images available
Great for
Wellness
Social life
Eco living
Amenities for 1240 S Michigan Ave, South Loop
Apartment Amenities
| Balcony | Dryer |
| Forced Air |
Appliances
| Dishwasher | In-Unit Laundry |
| Microwave | Range/Oven |
| Refrigerator |
Building
| Cats OK | Dogs OK |
| Fitness Center | Residents Lounge |
Grounds
| Garage Parking | Swimming Pool |
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.
Policies and fees
Applicants
Applicants
One-time.
Contact Property
REQUIRED FEES
Security Deposit
One-time. Refundable.
Contact Property
Dog Policy
Allowed
Cat Policy
Allowed
Contact for more information on pet policy.
Questions about this property’s policies and fees?
Building details
Property details
| Lease terms | 12+ months |
|---|
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About 1240 S Michigan Ave
Property Id: 2480453 Gorgeous modern apartment located in downtown Chicago. Amenities: Fitness Center Dog Park Entertainment Club Room Pool Garage Sky Lounge Living Space: Expansive windows for natural lighting Pantry Closets Linen closet Modern Kitchen Stainless Steel appliances Transportation: Parking Garage Near the CTA Train Station Near Metra Station
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How 1240 S Michigan Ave, Chicago, IL 60605, USA compares to other nearby properties.
Positives
- Elementary school nearby
- There is an elementary school 0.2 mile away
- Middle school nearby
- There is a middle school 1 mile away
- Images available
- There are at least 10 photos of this address
Address details
| Neighborhood | South Loop |
|---|---|
| Zip code | 60605 |
| Type | Apartment for rent |
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Rent trends in South Loop
2-bedroom apartments at 1240 S Michigan Ave cost about 19% more than the average rent price for 2-bedroom apartments in Chicago.
Median rents as of Apr 18 2026.
South Loop
Chicago
| Month | Median Rent |
|---|---|
| May 2024 | $2,648 |
| June 2024 | $2,764 |
| July 2024 | $2,862 |
| August 2024 | $2,702 |
| September 2024 | $2,706 |
| October 2024 | $2,704 |
| November 2024 | $2,621 |
| December 2024 | $2,508 |
| January 2025 | $2,470 |
| February 2025 | $2,498 |
| March 2025 | $2,508 |
| April 2025 | $2,495 |
| May 2025 | $2,498 |
| June 2025 | $2,498 |
| July 2025 | $2,550 |
| August 2025 | $2,491 |
| September 2025 | $2,419 |
| October 2025 | $2,402 |
| November 2025 | $2,428 |
| December 2025 | $2,348 |
| January 2026 | $2,436 |
| February 2026 | $2,425 |
| March 2026 | $2,537 |
| April 2026 | $2,505 |
| Month | Median Rent |
|---|---|
| May 2024 | $2,995 |
| June 2024 | $2,978 |
| July 2024 | $3,020 |
| August 2024 | $2,932 |
| September 2024 | $2,978 |
| October 2024 | $2,949 |
| November 2024 | $2,961 |
| December 2024 | $2,849 |
| January 2025 | $2,865 |
| February 2025 | $2,947 |
| March 2025 | $3,002 |
| April 2025 | $3,023 |
| May 2025 | $3,154 |
| June 2025 | $3,237 |
| July 2025 | $3,286 |
| August 2025 | $3,168 |
| September 2025 | $3,174 |
| October 2025 | $3,099 |
| November 2025 | $2,982 |
| December 2025 | $2,983 |
| January 2026 | $3,019 |
| February 2026 | $3,075 |
| March 2026 | $3,156 |
| April 2026 | $3,146 |
Affordability calculator
Can I afford to live at 1240 S Michigan Ave?
Bedrooms
2 bedroomsRent-to-income ratio
30%
Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income
$150,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $150,000 annually to afford this 2-bedrooms monthly rent price of $3,750.
For more information on rent affordability, visit our rent calculator.
Rent history
The increase or decrease in monthly rent compared to the previous listing price.| Bath | |||||
|---|---|---|---|---|---|
| 5 months ago | $3,995 | 3 bed | 3 bath | ||
| 9 months ago | $4,150 | 3 bed | 3 bath | ||
| 2 years ago | $2,544 | 2 bed | 2 bath | ||
| 9 years ago | $2,234 | 2 bed | 2 bath |
Schools near 1240 S Michigan Ave
South Loop Elementary School
1212 s plymouth ct
chicago, IL, 60605
PK, K-8Public
B+
Bridgeport Child Development Center
3053 s normal ave
chicago, IL, 60616
PKPublic
Chicago Commons Guadalupano Family Center
1814 s paulina ave
chicago, IL, 60608
PKPublic
Ruben Salazar Bilingual Center
160 w wendell st
chicago, IL, 60610
PK, K-8Public
C+
Rudolph Elementary Learning Center
1628 w washington blvd
chicago, IL, 60612
PK, K-7Public
C+
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Internet available near 1240 S Michigan Ave
Neighborhood
South Loop | Chicago, IL
Getting around Chicago near 1240 S Michigan Ave
Walking
10/10
No car? No problem. Everything you need is within a few blocks.
Driving
4/10
This area is accessible to thoroughfares and has ample parking options.
Cycling
9/10
Helmets on–you can get anywhere in this cyclist-friendly, well-connected area.
Transit
10/10
Getting around is a breeze; rapid transit and bus lines are a few blocks away.
Points of interest for 1240 S Michigan Ave, Chicago
Groceries
9/10
At least one supermarket within a 5-minute walk
Shopping
9/10
Exceptional variety of shops within a few minutes’ walk
Cafes
9/10
Exceptional variety of cafés within a few minutes’ walk
Restaurants
9/10
Exceptional variety of restaurants within a few minutes’ walk
Primary schools
8/10
At least one elementary school within a 10-minute walk
High schools
7/10
At least one high school within a 15-minute walk
Parks
10/10
Exceptionally large amount of park space within a few minutes’ walk
Nightlife
9/10
Wide variety of bars within a few minutes' walk
Explore the area around 1240 S Michigan Ave
Sky Grocer
1259 S Michigan Ave
Alfa Foods
1300 S Wabash Ave
Jewel-Osco
1224 S Wabash Ave
Trader Joe's
1147 S Wabash Ave
Lakeview Market Inc
1118 S Michigan Ave
A'neie's Accents & Accessories
1237 S Michigan Ave
Advance Uniform Inc
33 E 13th St
The Dapper Club
1132 S Wabash Ave
H&M
150 W Roosevelt Rd
Target
1154 S Clark St
Dunkin'
1231 S Wabash Ave
Overflow Coffee Bar
1312 S Wabash Ave
Dunkin'
22 E Roosevelt Rd
Stan's Donuts
26 E Roosevelt Rd
Overflow Coffee
1449 S Michigan Ave
AO Hawaiian Hideout
1315 S Wabash Ave
Square One
1400 S Michigan Ave
Victory Tap
1416 S Michigan Ave
Weather Mark Tavern
1503 S Michigan Ave
M Lounge
1520 S Wabash Ave
Sweet Bean
1152 S Wabash Ave
Molly's Cupcake
1150 S Wabash Ave
Murray's Cheese
1615 S Clark St
Tea Pot Brew Bakery
1802 S Wabash Ave
Mr Poppa Gourmet Popcorn
800 S Wells St
Daniel Webster Park
Mary Richardson Jones Park
Coliseum Park
Cotton Tail Park
Dearborn Park
Jimmy John's
1250 S Michigan Ave
Nepal House
1301 S Michigan Ave
My Place Chinese Cuisine
1307 S Wabash Ave
Subway
1212 S Michigan Ave
AO Hawaiian Hideout
1315 S Wabash Ave
Michigan / 13th Street
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Green Line, Orange Line, Orange Line, Green Line
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Red Line, Red Line
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Red Line, Red Line
Lasalle
Blue Line, Blue Line
Harold Washington Library
Purple Line, Brown Line, Orange Line, Pink Line
Other units at this address
1240 S Michigan Ave, Chicago, IL
1240 S Michigan Ave Chicago, IL
Occupied
2154
2 Beds
2 Baths
$2,234
Dishwasher • In-Unit Laundry • Hardwood Floor • Air Conditioning • High Ceilings
Occupied
3 Beds, 3 Baths
3 Beds
3 Baths
$4,025
Dishwasher • Fitness Center • In-Unit Laundry • Hardwood Floor • Microwave • Air Conditioning
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