Top 10 Economy Hotels in Chicago

Chicago is an unforgettable city. Whether you’re coming for the deep-dish pizza, the skyline, or Lake Michigan, it’s magical. Still, finding the right economy hotel in Chicago can feel overwhelming. That’s why we’ve handpicked ten of the best cheap hotels in Chicago. These options combine affordability with style, comfort, and convenience. Each is close to top nearby attractions, offers unique amenities, and delivers great value for your money. If you’re a solo traveler, a couple, or planning a family getaway, there’s something here for you. Let’s explore the best budget hotels Chicago has to offer.

Freehand Chicago

Freehand Chicago blends retro charm with boutique comfort. Located in River North, this hotel is great for those who love art and nightlife. The rooms are stylish yet simple. The beds are cozy. You’ll love the quirky decor and vintage vibe. It also offers shared and private rooms, perfect for backpackers or groups. The hotel houses the Broken Shaker, a famous cocktail bar. There’s also a café with great coffee and pastries. You’re steps from Michigan Avenue, making this one of the best cheap hotel rooms Chicago has to offer.

• Rating: 3-Star
• Neighborhood: River North
• Price Range: $100–$160 per night
• Best for: Solo travelers, young couples, backpackers
• Nearby Attractions: Magnificent Mile, Museum of Contemporary Art, Navy Pier

The Getaway Hostel

In vibrant Lincoln Park, The Getaway Hostel offers a social vibe without the high price tag. It’s bright, clean, and cheerful. The common areas feel more like a shared loft than a hostel. Enjoy free breakfast and fast Wi-Fi. The kitchen is well-equipped for budget meals. It’s a five-minute walk to the Lincoln Park Zoo and Lakefront Trail. This spot is among the top affordable hotels Chicago travelers pick for its friendly atmosphere and great location.

• Rating: 2-Star
• Neighborhood: Lincoln Park
• Price Range: $50–$110 per night
• Best for: Students, solo travelers, friend groups
• Nearby Attractions: Lincoln Park Zoo, North Avenue Beach, DePaul University

Ohio House Motel

Simple yet charming, Ohio House Motel is in the heart of downtown. Parking is free, a rare find in the city. The rooms are clean and quiet with retro furnishings. A quick walk gets you to the Loop and Riverwalk. This budget hotel in Downtown Chicago is perfect for guests who want everything at their doorstep. Nearby bars and restaurants make evenings lively. It’s a hidden gem for travelers who value location over luxury.

• Rating: 2-Star
• Neighborhood: River North
• Price Range: $80–$130 per night
• Best for: Business travelers, weekenders, solo tourists
• Nearby Attractions: Chicago Riverwalk, Merchandise Mart, Magnificent Mile

Hotel Versey Days Inn by Wyndham

Set in a historic building in Lakeview East, Hotel Versey is far from ordinary. Its art-filled interiors set it apart. Rooms are modern with a splash of local culture. You’ll enjoy the fast Wi-Fi, smart TVs, and sleek bathrooms. With its great location, you’re close to Wrigley Field and great dining. This economy hotel in Chicago is ideal for visitors who want style without the big price.

• Rating: 3-Star
• Neighborhood: Lakeview East
• Price Range: $90–$160 per night
• Best for: Couples, solo travelers, Cubs fans
• Nearby Attractions: Wrigley Field, Belmont Harbor, Lakefront Trail

Chicago South Loop Hotel

If you’re heading to McCormick Place or Chinatown, this hotel is a top pick. Located in the South Loop, it combines affordability with comfort. Rooms are spacious, clean, and come with free Wi-Fi. On-site parking is another plus. It’s a popular discount hotel in Chicago among conference-goers and tourists alike. The calm, quiet vibe is great after a long day exploring the city.

• Rating: 3-Star
• Neighborhood: South Loop
• Price Range: $85–$140 per night
• Best for: Business travelers, families, event attendees
• Nearby Attractions: McCormick Place, Chinatown, Soldier Field

Found Hotel Chicago River North

Found Hotel is charming and affordable, with a boutique flair. Located in River North, it’s close to art galleries and jazz clubs. The hotel blends classic elegance with modern comfort. Rooms are small but well-designed. Amenities include Wi-Fi, housekeeping, and a cozy lounge. It’s among the most stylish cheap hotels in Chicago. You’ll enjoy the blend of community feel and personal space.

• Rating: 3-Star
• Neighborhood: River North
• Price Range: $90–$150 per night
• Best for: Couples, creatives, young professionals
• Nearby Attractions: House of Blues, Chicago Theatre, Michigan Avenue

HI Chicago Hostel

Located in the Loop, HI Chicago Hostel is perfect for travelers on a tight budget. It offers bunk-style dorms and private rooms. Daily free breakfasts are included. The vibe is lively and welcoming. Large common spaces and events foster social connections. It’s a top pick among budget hotels Chicago for its central spot and friendly feel. Walk to Millennium Park or catch a show nearby.

• Rating: 2-Star
• Neighborhood: The Loop
• Price Range: $45–$100 per night
• Best for: Backpackers, students, solo travelers
• Nearby Attractions: Millennium Park, Art Institute of Chicago, The Bean

Carlton Inn Midway

Just minutes from Midway Airport, Carlton Inn offers convenience with charm. Free airport shuttles and breakfast make it ideal for layovers. Rooms are cozy and include mini-fridges and microwaves. The friendly staff go above and beyond. This economy hotel in Chicago is perfect for travelers who prioritize access to the airport and value. You’ll appreciate the peace after a flight.

• Rating: 2-Star
• Neighborhood: Garfield Ridge
• Price Range: $85–$120 per night
• Best for: Business travelers, airport layovers, short stays
• Nearby Attractions: Midway Airport, Marquette Park, Ford City Mall

Amber Inn Chicago

Amber Inn is located on the South Side, close to Bronzeville’s rich history. This no-frills stay offers essential comfort. Rooms are large and clean. Wi-Fi and cable TV are included. The hotel staff are welcoming and helpful. This spot is one of the best cheap hotel rooms Chicago offers in this neighborhood. It’s close to public transit and major city attractions.

• Rating: 2-Star
• Neighborhood: Bronzeville
• Price Range: $75–$110 per night
• Best for: Couples, students, cultural tourists
• Nearby Attractions: Guaranteed Rate Field, DuSable Museum, IIT Campus

Wrigley Hostel

Just steps from Wrigley Field, this colorful hostel is full of energy. It’s great for those who love sports, nightlife, and people. Rooms range from dorms to private suites. Enjoy free breakfast, ping-pong, and BBQ nights. There’s even a rooftop lounge. It’s a favorite among affordable hotels Chicago for young travelers. Plus, it’s easy to hop on the train to explore more.

• Rating: 2-Star
• Neighborhood: Wrigleyville
• Price Range: $50–$115 per night
• Best for: Party-goers, sports fans, solo travelers
• Nearby Attractions: Wrigley Field, Gallagher Way, Boystown

Conclusion

Finding the right place to stay in Chicago doesn’t need to be stressful or expensive. These top 10 economy hotels in Chicago offer the perfect blend of location, value, and charm. Whether you’re looking for cheap hotel rooms Chicago, a trendy hostel, or a stylish budget hotel in Downtown Chicago, this list has you covered. With great amenities, welcoming staff, and access to the best nearby attractions, your Windy City adventure is set for success. Explore these affordable hotels Chicago has waiting for you, and make your trip unforgettable without breaking the bank.