Zumper
modified
2 Days Ago

Highlights

  • Hardwood floors
  • Modern appliances
  • Spacious living room
  • Large bedrooms
  • Ample closet space
  • Sleek white cabinetry

Location

4240 S Michigan Ave, Chicago, IL 60653, USA|Grand Boulevard
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Contact

Management

Atlas Asset Management

Leasing office

(312) 757-1686

Property Overview

4240-48 Michigan offers a strong mix of value, quality, and convenience, with an expert rating of 8.9 out of 10, a top price score, and high marks for amenities, location, and overall quality. It features hardwood floors, modern appliances, a spacious living room, large bedrooms, ample closet space, and sleek white cabinetry, along with competitive value for the area and nearby everyday and community conveniences.

This summary uses Zumper’s proprietary data. “Zumper Expert Ratings” and “Things you’ll love” are based on our internal analyses of market trends and renter insights.

Zumper Expert Rating

8.9
Very Good
With a solid 8.9 out of 10 overall, 4240-48 Michigan is a great option for renters. While some aspects, like Trustworthiness, might not be as distinguished as other properties nearby, 4240-48 Michigan has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.

Things you’ll love

  • Less expensive
  • More space
  • Middle school nearby

Floor plans

2BR/1.0BA2 bed1 bath650+ sqft$1,495–$1,695 /mo3 units availableStep into this recently updated 2-bedroom, 1-bathroom unit in the heart of Bronzeville. The living room is bathed in natural light. The generously sized bedrooms offer plenty of closet space, and the bathroom showcases wood plank flooring and pristine white cabinets. Plus, you'll love the convenience of being just steps away from transportation, shopping, restaurants, and more. Section 8 welcome. To book a showing, click here: https showmojo com d4fdccc0af l

Let's explore this property.

Policies and fees

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property
Building details

Property details

Units42
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About 4240-48 Michigan

HomeApartments in ChicagoGrand Boulevard 4240-48 Michigan

Step into this recently updated 2-bedroom, 1-bathroom unit in the heart of Bronzeville. The living room is bathed in natural light. The generously sized bedrooms offer plenty of closet space, and the bathroom showcases wood plank flooring and pristine white cabinets. Plus, you'll love the convenience of being just steps away from transportation, shopping, restaurants, and more. Section 8 welcome. To book a showing, click here: https showmojo com d4fdccc0af l


Zumper Expert Rating

Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.9
/10
Very Good
With a solid 8.9 out of 10 overall, 4240-48 Michigan is a great option for renters. While some aspects, like Trustworthiness, might not be as distinguished as other properties nearby, 4240-48 Michigan has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
How we rated 4240-48 Michigan
Price·10A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
4240-48 Michigan offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·8A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
With multiple in-demand amenities, 4240-48 Michigan is committed to enhancing the renting experience. And while it may have fewer total conveniences and features than similar rentals nearby, it remains a top choice for renters wanting an specific standard of living.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
4240-48 Michigan is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·9A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
4240-48 Michigan has a few standout characteristics that set it apart from similar properties nearby. Having both verified status and features that cater to discerning renters, this is a great option for renters looking for a specific and exceptional lifestyle.
Trustworthiness·7A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
4240-48 Michigan provides some information about the features available in the community and its apartments, making it a reliable option for prospective renters. Renters should ask additional questions about amenities and non-negotiable items they are looking for.

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 4240-48 Michigan compares to other nearby properties.

Positives

Less expensive
The 2-bedrooms are cheaper than other similar listings nearby
More space
The 2-bedroom is 300 sqft larger than other listings nearby
Middle school nearby
There is a middle school 1 mile away

Considerations

Greater distance from high schools
The nearest high school is farther than 1 mile away
Lacks images
Fewer than 10 photos available for this location

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Rent trends in Grand Boulevard

2-bedroom apartments at 4240-48 Michigan cost about 12% less than the average rent price for 2-bedroom apartments in Grand Boulevard.

Median rents as of May 30 2026.
Grand Boulevard
Chicago
A table of studio rental data trends in Chicago
MonthMedian Rent
June 2024$1,761
July 2024$1,931
August 2024$1,691
September 2024$1,682
October 2024$1,630
November 2024$1,568
December 2024$1,501
January 2025$1,483
February 2025$1,495
March 2025$1,520
April 2025$1,512
May 2025$1,502
June 2025$1,531
July 2025$1,580
August 2025$1,516
September 2025$1,473
October 2025$1,495
November 2025$1,520
December 2025$1,495
January 2026$1,496
February 2026$1,516
March 2026$1,657
April 2026$1,637
May 2026$1,684
A table of studio rental data trends in Grand Boulevard
MonthMedian Rent
June 2024$925
July 2024$1,025
August 2024$1,012
September 2024$943
October 2024$915
November 2024$850
March 2025$1,037
April 2025$1,312
May 2025$1,004
June 2025$1,108
July 2025$1,011
August 2025$770
September 2025$800
October 2025$727
November 2025$612
December 2025$651
January 2026$650
February 2026$718
March 2026$852
April 2026$767
May 2026$803

Affordability calculator

Can I afford to live at 4240 S Michigan Ave?

Bedrooms

2 bedrooms

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

$59,800/yr

With your selected rent-to-income ratio, you'd ideally want to make $59,800 annually to afford this 2-bedrooms monthly rent price of $1,495.
For more information on rent affordability, visit our rent calculator.

Schools near 4240-48 Michigan

Bronzeville Classical Elementary School

8 w root st

chicago, IL, 60609

K-6Public
A-

Beethoven Elementary School

25 w 47th st

chicago, IL, 60609

PK, K-8Public
C-

Ariel Elementary Community Academy

1119 e 46th st

chicago, IL, 60653

PK, K-8Public
C-

Bridgeport Child Development Center

3053 s normal ave

chicago, IL, 60616

PKPublic

Chicago Commons Paulo Freire Center

1653 west 43rd st

chicago, IL, 60609

PKPublic
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Internet available near 4240-48 Michigan

Getting around Chicago near 4240 S Michigan Ave

Walking

7/10
Grab your reusable bags–many shops and stores are within walking distance.

Driving

9/10
Commuting is easy with multiple accessible routes and plenty of parking.

Transit

8/10
Popular public transit options are just a short walk from this location.

Points of interest for 4240 S Michigan Ave, Chicago

Groceries

7/10
At least one grocery store within a 15-minute walk

Shopping

6/10
Variety of shops within walking distance

Cafes

5/10
Some cafés within walking distance

Restaurants

6/10
Variety of restaurants within walking distance

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 20-minute walk

Parks

7/10
Moderate amount of park space nearby

Nightlife

4/10
Few or no bars within walking distance

Explore the area around 4240 S Michigan Ave

Addictive Eats
4028 S King Dr
200 Cut Rate Liquors & Grocers
204 E 47th St
Sip & Saver
528 E 43rd St
Mariano's
3857 S King Dr
Sugars Plus Inc
525 E 47th St

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