The 12 Best Cheap Hotels in Chicago, Illinois [2024]

Rising from the shores of Lake Michigan, Chicago is famous for its vibrant arts scene, multiple cultural attractions, interesting architecture, excellent shopping, great food, and lively nightlife.

From the wide-open spaces of Millennium Park to the amazing views from Skydeck Chicago at Willis Tower, the Windy City has plenty to offer every visitor, no matter the budget.

Let’s take a look at some of the best affordable spots to stay in the Windy City!

Best Cheap Hotels in Chicago, IL

Acme Hotel Company Chicago

Price per Night: From $87

Just blocks away from the Magnificent Mile, this boutique hotel offers trendy accommodations that provide great value for the money.

Bedrooms are compact but cleverly designed and offer lots of tech-friendly features, including super-fast Wi-Fi, PC-compatible hookups, and wireless audio systems. Guests will also enjoy the novelty of being able to rent an Apple Watch from reception to use during their stay.

The Acme Hotel Company Chicago has some quirky extra touches too, including an alpine-themed hot tub experience called the Bunny Slope, the West Town Bakery & Diner, and the Bodega cocktail bar.

Hot Tip: If you’re looking for things to do in Chicago, check out these great tours: River Architecture Cruise, Gangsters and Ghosts Walking Tour, or a Daytime Helicopter Tour.

The Chicago Hotel Collection River North Mag Mile

Price per Night: From $76

This retro-style hotel is situated in a historic building at the heart of downtown Chicago. Uber-cool bedrooms feature comfortable beds and mid-century-style furnishings and come with clean, modern bathrooms.

The Chicago Hotel Collection River North Mag Mile has been designed with socializing in mind — it offers a warm and welcoming coffee shop and seating area, as well as a lively speakeasy-style bar in the basement.

Located in the trendy River North neighborhood, there are plenty of bars and eateries close by, while Navy Pier, Willis Tower, and Millennium Park are also just a short distance away.

Chicago Lake Shore Hotel

Price per Night: From $109

Situated just 2 miles away from the Museum of Science and Industry, and close to the University of Chicago, this mid-range hotel is well-situated for those looking to explore the city on a budget. Guests can take advantage of the free local shuttle service, and there is also guest parking for those with their own cars.

The Chicago Lake Shore Hotel also has an on-site restaurant that serves up American cuisine and offers live entertainment with views of Lake Michigan. Lots of local shops, bars, and restaurants are close by, and Navy Pier is just a 10-minute drive away.

Found Hotel Chicago River North

Price per Night: From $24

Located in a historic building in the trendy River North neighborhood just a 10-minute walk from the Magnificent Mile, you’ll find tons of great bars, restaurants, and shopping to enjoy just outside your doorstep at the Found Hotel.

Offering private double rooms with ensuite bathroom facilities, as well as dorm-style shared rooms, Found Hotel Chicago River North provides guests with upscale hostel-style accommodation in a great location.

Take advantage of the on-site restaurant, coffee bar, and Asian-inspired karaoke bar that’s popular with locals and visitors alike, or head on out to explore the attractions and eateries available close by.

Freehand Chicago

Price per Night: From $22

This hip and trendy budget hotel offers shared rooms or private queen rooms in the heart of River North.

Bedrooms are stylish, and guests can enjoy a range of amenities, including free Wi-Fi, a shared kitchen, and a cafe that serves up gourmet coffee and homemade treats. Freehand Chicago is also home to The Broken Shaker cocktail bar that’s popular with locals and visitors.

The Freehand is within easy walking distance of the Magnificent Mile and its high-end boutiques, cool bars, and restaurants, as well as Navy Pier, the Centennial Wheel, and other famous Chicago attractions.

The Gateway Inn of Oak Lawn

Price per Night: From $99

This family-owned hotel offers clean, cozy, and affordable accommodations close to Chicago Midway International Airport (MDW) and Advocate Christ Hospital.

Comfortable bedrooms come complete with private bathrooms with a shower and a bathtub, and the owners ensure that all bedrooms have an authentic home-away-from-home feel. Gateway Inn offers its guests free tea and coffee, daily newspapers, and the use of a fax machine and photocopier.

There is also a pretty garden area for enjoying when the weather is warmer. Situated in the town of Oak Lawn close to SeatGeek Stadium, the attractions of downtown Chicago are around a 20-minute drive away.

Hot Tip: Renting a car at Midway or O’Hare for your Chicago trip? Check out our guide on how to book cheap car rentals in Chicago, including price comparisons!

HI Chicago Hostel

Price per Night: From $35

This upscale hostel is housed in a historic building in an excellent South Loop location. Private rooms with ensuite bathrooms are modern and clean, and there are shared dorm-style rooms available for those looking to bunk down for less.

HI Chicago Hostel offers trendy interiors, an on-site cafe, internet access, a common room, a games room, and a TV room.

Within walking distance of some of the best bars, shops, attractions, and nightlife the city has to offer, this is a great place to stay in the heart of the city.

Rodeway Inn Chicago

Price per Night: From $77 or 8,000 Choice Privileges points

Offering fuss-free motel-style accommodations, this hotel is located in Skokie on the North Shore, which is home to a wide range of world-class arts and cultural entertainment, as well as a wide range of bars, restaurants, and great shopping venues.

Bedrooms are basic but clean with dark wood furniture and private bathrooms, while the hotel also offers free parking and Wi-Fi.

Guests at the Rodeway Inn Chicago will be well-positioned to explore the delights of Skokie or take the 15-minute drive into downtown Chicago to explore the wide range of famous attractions, awesome shopping, and lively nightlife on offer.

Sleep Inn Midway Airport

Price per Night: From $80 or 12,000 Choice Privileges points

This cheerful hotel is located close to Midway in the residential area of Bedford Park. Perfect for those who need to travel onwards, the hotel offers free transportation to the airport and the CTA Orange Line Midway station.

Bedrooms here are clean and modern with oversized showers in the private bathrooms, and the hotel also has a dining room that offers a daily breakfast buffet.

Guests staying at the Sleep Inn Midway Airport can also take advantage of the 24-hour fitness center and the copy, fax, and scanning services if work needs to get done.

The St. Clair Hotel – Magnificent Mile

Price per Night: From $91

Situated just off the Magnificent Mile, this historic, European-style high-rise hotel offers great views across Chicago.

Bedrooms are bright and spacious and come complete with premium cable TV and modern bathrooms. Guests can enjoy complimentary Wi-Fi and laundry facilities, but it’s the downtown location that sets this hotel apart.

The St. Clair Hotel is not only close to a wide array of cool bars, trendy restaurants, and great shopping facilities, but it’s also just a short walk from Navy Pier, Water Tower Place, Chicago Riverwalk, the John Hancock Center, and much more.

Travelodge by Wyndham Downtown Chicago

Price per Night: From $85 or 15,000 Wyndham Rewards points

This chain hotel is located just 1 block away from Millennium Park, in the South Loop neighborhood of the city. Bedrooms are clean and spacious and come with air conditioning and cable TV. The hotel also offers a range of amenities including a business center, on-site parking, a regional restaurant, and a sushi bar.

This hotel is just a 10-minute drive from some of the city’s most famous attractions, including Navy Pier and the Magnificent Mile, and offers easy access to Chicago O’Hare International Airport (ORD) and I-94.

The Willows Hotel

Price per Night: From $89

If you want to stay in an upmarket neighborhood without paying upscale hotel prices, this hotel could be the place for you. Situated in a tree-lined street in the prestigious Lakeview area of the city, rooms here are clean and cozy, and the hotel also offers a fitness center and laundry facilities.

Guests at The Willows Hotel will love being just a short distance from Wrigley Field and the Lincoln Park Zoo, and the scenic Lake Michigan coastline is just minutes away. For those who enjoy the great outdoors, there are lots of walking and hiking trails close by.

Final Thoughts

As is often the case in big metropolitan cities, finding budget accommodation can be a challenge. In Chicago, though, there are lots of hostels and budget hotels, both close to the heart of the city and further out in the suburbs.

Wherever you choose to stay, Chicago has a great transport network that will get you to where you want to be, and there are lots of great neighborhoods to explore away from the main tourist routes and famous attractions.