How Much Does It Cost to Live in River North?

River North is one of Chicago’s most popular neighborhoods for renters and it is easy to understand why. The neighborhood combines some of the city’s best restaurants, nightlife, shopping, and luxury apartment buildings, all within walking distance of downtown offices and the Chicago Riverwalk. It offers the convenience of city living without requiring a car and easily could be considered the most walkable neighborhood in Chicago.

The overall cost of living can vary depending on your building, your commute, and your day to day lifestyle. Parking, groceries, fitness memberships, transportation, and dining out all contribute to your monthly budget, and understanding those expenses ahead of time can make it much easier to compare neighborhoods.

Here is what renters can generally expect when living in River North along with how the neighborhood compares to other similar areas like the West Loop, Gold Coast, and Streeterville.

Rent in River North

River North has one of the largest concentrations of luxury apartment buildings in Chicago, ranging from boutique communities to full service high rises with extensive amenities. New construction continues to reshape the neighborhood, giving renters more choices than ever before. Most luxury studio apartments begin around the low $2,000s, one bedroom apartments generally start between $2,700 and $3,500 depending on the building, floor plan, and current leasing specials, and larger one bedroom layouts, corner units, and apartments with premium views often lease for considerably more. Two bedroom apartments commonly begin around $3,800 and can exceed $6,500 in newer buildings. If you’re living with roommates, 3 bedroom apartments in River North can be one of the best values. They often cost substantially less per bedroom than a one bedroom apartment would (i.e. $2000 per person in a $6000 3 bed vs. $2800 for a comparable one bed).

Communities such as 111 Point, One Chicago, The Leo, and Hubbard221 are a good representation of the types of luxury rentals you find in River North, offering modern finishes, coworking spaces, rooftop amenities, pet amenities, and club grade fitness centers that have become standard expectations for many downtown renters.

Parking

Although River North is one of Chicago’s most walkable neighborhoods, many residents still choose to keep a vehicle. Most luxury apartment buildings offer attached garage parking, although it comes at an additional monthly cost.

Expect reserved garage parking to range between approximately $275 and $400 per month, with premium spaces and electric vehicle charging sometimes costing more. For renters who work downtown or rely on public transportation, giving up a car can significantly reduce monthly living expenses.

Groceries and Everyday Life

Running everyday errands is simple in River North. Grocery stores, pharmacies, coffee shops, and convenience stores are all within walking distance for most residents, making it easy to complete daily tasks without driving across the city.

Whole Foods, Trader Joe’s, Jewel Osco, Target, and Bockwinkel’s are among the neighborhood’s most popular grocery options. Depending on shopping habits and household size, many residents spend somewhere between $400 and $800 each month on groceries.

Because so much of the neighborhood is walkable, many renters also find themselves spending less on transportation than they expected after moving downtown.

Fitness and Wellness

One of the advantages of living in a luxury apartment building is that a separate gym membership is often unnecessary. Many newer communities include expansive fitness centers with dedicated strength equipment, cardio machines, yoga studios, recovery spaces, and private fitness rooms.

For those who prefer a larger athletic club, River North is also home to several of Chicago’s most popular fitness destinations, including Lifetime Fitness, Barry’s, Orangetheory, F45, and Studio Three. Just across the river, East Bank Club remains one of the city’s most sought after health clubs. Fitness memberships in River North for high end health clubs and boutique fitness studios tend to be roughly $200-400/month on average.

Public Transportation

River North is one of the easiest neighborhoods in Chicago to navigate without owning a car.

Residents have quick access to multiple CTA train lines, including the Red, Brown, Purple, and Blue Lines, along with numerous bus routes that connect downtown and surrounding neighborhoods. A thirty day CTA pass currently costs $100, and many residents are able to walk to work in the Loop, Streeterville, Fulton Market, or the West Loop instead of commuting.

How Does River North Compare to Other Downtown Neighborhoods?

Every downtown neighborhood offers a different lifestyle, and understanding those differences can help you decide where your budget will go the furthest.

The West Loop has become one of Chicago’s fastest growing neighborhoods thanks to its concentration of technology companies, modern apartment buildings, and nationally recognized restaurants along Randolph Street and Fulton Market. Luxury one bedroom apartments typically begin around $2,600, with many newer buildings reaching well above $3,200. Residents enjoy convenient access to Mariano’s, Whole Foods, Skinner Park, Mary Bartelme, and some of Chicago’s most celebrated restaurants, including Monteverde, Girl & The Goat, Rose Mary, and Au Cheval.

The Gold Coast offers a different pace. Historic architecture, tree lined streets, and close proximity to Oak Street Beach give the neighborhood a more residential character while keeping downtown just minutes away. Luxury one bedroom apartments generally begin around $2,500, with newer high rises reaching into the mid $3,000s. Residents enjoy easy access to Gibson’s Bar and Steakhouse, Maple & Ash, Le Colonial, Adalina, and the boutiques along Oak Street.

Streeterville combines luxury high rise living with some of the city’s most recognizable destinations. Northwestern Memorial Hospital, Navy Pier, Ohio Street Beach, and the Lakefront Trail are all within walking distance, making the neighborhood especially popular among medical professionals and anyone who values easy access to the lakefront. One bedroom apartments typically begin around $2,600, while newer buildings with premium amenities often lease for more. Restaurants such as Miru, Volare, Robert’s Pizza, and Avli on The Park are neighborhood favorites.

Finding the Right Fit

At Downtown Apartment Collective, we help renters compare luxury apartment buildings across River North, Streeterville, Gold Coast, the West Loop, and every major downtown neighborhood. Whether you are relocating to Chicago or simply deciding whether your next move makes sense, we can help you compare current pricing, available concessions, and new construction communities to find the apartment that offers the best overall value!