House for rent

22 Hours Ago

740 S Federal St #506
740 S Federal St #506, Chicago, IL 60605, USA

Monthly rent	$2,100
Beds	1
Baths	1
Sqft	900

Monthly rent	$2,100
Beds	1
Baths	1
Sqft	900

22 Hours Ago

Location

740 S Federal St #506, Chicago, IL 60605, USA|Loop

Tour 740 S Federal St #506

Contact

Benyamin Lalez

Compass Real Estate

(773) 466-7150

Property Overview

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

Less expensive
High school nearby
Central heat

Great for

Social life
Work-from-home
Pet owners

Amenities for 740 S Federal St #506, Loop

Apartment Amenities

Central Air

Natural Gas

Building

Onsite Laundry

Twelve Floors

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

Contact for more information on pet policy.

About 740 S Federal St #506

Home

Houses in Chicago

740 S Federal St #506, Chicago, IL 60605, USA

Sweet deal!

This listing is 18% below the median price for 1 bedroom apartments in Loop.

Property Status: Active 740 S Federal St Unit 506 - a spacious 1 bed, 1 bath rental perfectly located in the heart of Chicago's South Loop, just steps from LaSalle Dr. This bright unit features an open-concept living area, a comfortable bedroom with ample closet space, and a full bath. The kitchen flows easily into the living room, making the space ideal for both relaxing and entertaining. Residents enjoy a secure, professionally managed building with on-site laundry and easy access to everything the neighborhood has to offer. You'll be moments from public transportation, Grant Park, restaurants, shopping, and Chicago's cultural landmarks. Perfect for anyone looking to enjoy a vibrant city lifestyle with unbeatable convenience. Office Phone: (773) 466-7150 Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Property highlights

How 740 S Federal St, Chicago, IL 60605, USA compares to other nearby properties.

Positives

Less expensive: Some rentals at this address are cheaper than similar listings nearby
High school nearby: There is a high school 0.1 mile away
Central heat: This address offers a climate controlled environment
Elevator: Improved accessibility features
Extra Storage: Upgraded in-unit features
Images available: There are at least 10 photos of this address
Walk-in closet: Rentals here may include more closet space than average

Considerations

Greater distance from middle schools: The nearest middle school is farther than 1 mile away
Greater distance from grade schools: The nearest elementary school is farther than 0.4 mile away
No covered parking: Garage or covered parking isn't listed as an amenity here

Address details

Neighborhood	Loop
Zip code	60605
Type	House for rent

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Rent trends in Loop

1-bedroom apartments at 740 S Federal St #506 cost about 18% less than the average rent price for 1-bedroom apartments in Chicago.

Median rents as of Sep 20 2025.

Loop

Chicago

A table of 1-bedroom apartment rental data trends in Chicago
Month	Median Rent
October 2023	$2,023
November 2023	$2,050
December 2023	$2,116
January 2024	$2,165
February 2024	$2,174
March 2024	$2,319
April 2024	$2,180
May 2024	$2,248
June 2024	$2,337
July 2024	$2,354
August 2024	$2,210
September 2024	$2,235
October 2024	$2,200
November 2024	$2,118
December 2024	$1,961
January 2025	$1,932
February 2025	$1,991
March 2025	$2,036
April 2025	$2,050
May 2025	$2,040
June 2025	$2,012
July 2025	$2,172
August 2025	$2,064
September 2025	$1,982

A table of 1-bedroom apartment rental data trends in Loop
Month	Median Rent
October 2023	$2,407
November 2023	$2,348
December 2023	$2,395
January 2024	$2,403
February 2024	$2,357
March 2024	$3,216
April 2024	$2,638
May 2024	$2,453
June 2024	$2,538
July 2024	$3,364
August 2024	$2,618
September 2024	$2,591
October 2024	$2,545
November 2024	$2,483
December 2024	$2,355
January 2025	$2,381
February 2025	$2,427
March 2025	$2,485
April 2025	$2,549
May 2025	$2,602
June 2025	$2,640
July 2025	$2,725
August 2025	$2,630
September 2025	$2,582

Affordability calculator

Can I afford to live at 740 S Federal St #506?

Bedrooms

1 bedroom

Rent-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

$84,000/yr

With your selected rent-to-income ratio, you'd ideally want to make $84,000 annually to afford this 1-bedroom monthly rent price of $2,100.

For more information on rent affordability, visit our rent calculator.

Check availability

Rent history

Check out the past listing prices for monthly rent at 740 S Federal St, Chicago, IL.
			Bath
Last month	$1,575	Studio	1 bath
8 months ago	$2,900	2 bed	2 bath
1 year ago	$1,525	Studio	1 bath
1 year ago	$2,100	1 bed	1 bath
1 year ago	$2,100	1 bed	1 bath
1 year ago	$1,700	1 bed	1 bath
2 years ago	$1,800	1 bed	1 bath
2 years ago	$1,500	Studio	1 bath
2 years ago	$2,000	1 bed	1 bath
2 years ago	$2,000	1 bed	1 bath

Schools near 740 S Federal St #506

Internet available near 740 S Federal St #506

Neighborhood

Loop | Chicago, IL

NEIGHBORHOOD VIBE

Lively and energetic

You’ll be in the heart of the action in this bustling and vibrant area with plenty of shopping, nightlife, and culture.

Getting around Chicago near 740 S Federal St #506

Walking

9/10

No car? No problem. Everything you need is within a few blocks.

Driving

5/10

This area is accessible to thoroughfares and has ample parking options.

Cycling

8/10

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 740 S Federal St #506, Chicago

Groceries

10/10

Several grocery stores nearby

Shopping

10/10

Wide variety of shops within a few minutes' walk

Cafes

10/10

Variety of cafés right on the street

Restaurants

9/10

Variety of restaurants within a few minutes' walk

Primary schools

10/10

At least one elementary school within a 5-minute walk

High schools

9/10

At least one high school within a 10-minute walk

Parks

9/10

Large amount of park space nearby

Nightlife

10/10

Variety of bars right on the street

Explore the area around 740 S Federal St #506

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Other units at this address

740 S Federal St, Chicago, IL

740 S Federal St Chicago, IL

Occupied

504

1 Bed

1 Bath

973 sqft

$2,000

Assigned Parking

Listed by Chih-Hao Yang

Days on market: 763

Welcome to 740 S Federal St Apt 504. This spacious corner 1 bed 1 bath 973 sq ft unit is ready for its new residents starting September 1st, 2023. The monthly rent includes water, trash/recycling, Xfinity 1 Gig internet, fitness center, and storage locker 504 (on the same floor). Tenant only pays for electric additionally. Nestled in an elevator building, this condo has undergone a complete transformation from floor to ceiling. Its prime location places you in the heart of Printers Row, providing seamless access to the multiple schools in the South Loop, the Loop business district, CTA/metra/Amtrak, and 90/94. Within walking distance, you'll find Jewel-Osco, Target, Walgreens, CVS, and countless restaurants. Divvy dock located just south on Polk St. The fitness center is located on the second floor, unit 208 in the 740 S Federal Building. Each building has a laundry room located on the first floor of each building in the rear lobby via freight elevator. The unit, positioned to face the West and North, creates a warm and inviting atmosphere. Inside, you'll discover a spacious living and dining area, providing ample room for relaxation and entertainment. Quartz countertops, SS appliances ( dishwasher, stove and vent) and modern white cabinets in the kitchen. Laminate floor throughout the entire unit. The modern bathroom features a bathtub, perfect for unwinding after a long day. Brand new furnace/compressor/air handler inside the unit for cost efficiency. Bicycle storage racks are located in the garage below Printers Square. Registration is on a first come, first serve basis. Annual fee is $25.00. All dogs must be registered with the Management Office. $150/year. 100Lb max. No Pit Bull per building rules. Parking is available for $290 unreserved/ $370 reserved. Application requirements: 700+ minimum credit score. Household monthly income at least 3x monthly rent, so pay stubs need to show $2000x3=$6000/ month before taxes. $75 per person to apply for credit and background check. 1 month security deposit to owner. Building fees: move fee $300 non-refundable + one time new lease fee $200. Refundable $200 move deposit to building. All fees must be paid by checks or money orders and made out to Printers Square Condominium Association. Move Fees, new lease fee and move deposits need to be paid either with separate checks or money orders made payable to Printers Square Condominium Association. As long as there is no damage while moving to any common area or element, the move deposit of $200 is refundable. The freight elevator must be reserved with a minimum of seven (7) days prior to your move. Moving is only permitted Monday through Friday 9:00 AM to 5:00 PM and Saturday 9:00 AM to 3:00 PM. Move-Ins are only scheduled with a maximum Move-In time of three (3) hours. If the Move-In goes over the allowed three (3) hours the following fees apply: 0 to 15 minutes – no charge | 15 to 30 minutes - $50.00 | 30 to 45 minutes - $100.00 | 45 to 60 minutes - $125.00. No previous eviction records and bankruptcy. No smoking unit. Renter insurance is required. Tenant occupied until August 31st, 2023. 48 hours notice is required. Unit is available for September 1, 2023 move in. 1+ year lease only.