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Updated: January 8, 2020
The 11 Best Budget Hotels in Chicago
1. Holiday Jones – Budget
Funky, budget hostel with a restaurant, lounge with foosball table, shared kitchen, laundry facilities, coffee bar, and free lockers. Female-only and male-only dorm rooms are available in addition to private rooms, some with ensuite bathrooms. The hostel is a 3-minute walk (0.1 mile) to Division Station, short walk to a variety of restaurants and bars, and 16-minute train ride to the center of Downtown Chicago.
2. Found Hotel Chicago River North – Budget
Historic affordable boutique hotel, located a 14-minute walk (0.6 mile) from the shops of the Magnificent Mile and within blocks of numerous restaurants. In addition to on-site dining options including a coffee shop, restaurant, and bar, the hotel features amenities like a communal kitchen, coin-op laundry, and bicycle rentals. Accommodations range from private rooms to shared bunk rooms.
3. HI Chicago Hostel – Budget
Centrally located, just one block from Grant Park and an 8-minute walk (0.4 mile) from the Art Institute of Chicago, this modern, affordable hostel offers free continental breakfast, free social activities and tours, a communal kitchen, and a coin-op laundry room. Rooms range from mixed and female-only dorms to private rooms with shared bathrooms as well as private rooms with ensuite bathrooms.
4. Freehand Chicago – Budget
Situated in the middle of the Magnificent Mile, Streeterville, and River North neighborhoods, this stylish hostel is known for its popular Broken Shaker bar and has a fitness center, coffee bar, frequent social events and activities, communal kitchen, and garage parking nearby (fee applies). There’s a wide range of rooms and prices; both private rooms with ensuite bathrooms and shared dorms are available, all of which feature a funky decor and hip vibe. The property is steps from Grand/State Station (460 feet, 2-minute walk).
5. Travelodge by Wyndham Downtown Chicago – Budget
Budget hotel with two restaurants, valet and self parking (fee applies), a business center, and a 24-hour front desk. Some rooms have refrigerators and microwaves, and the hotel is situated 1 block from Grant Park (2-minute walk), a 9-minute walk (0.4 mile) from the Art Institute of Chicago, and a 19-minute walk (0.9 mile) from the Field Museum.
6. Moxy Chicago Downtown – Moderate
In the heart of River North, this modern hotel is surrounded by restaurants and bars, and sits a 15-minute walk (0.7 mile) from the Chicago Theatre. Guest rooms are outfitted with a smart TV, floor-to-ceiling windows, and a variety of bed configurations – including bunk beds in some rooms. The hotel has a 24/7 taco restaurant, bar, podcast recording studio, and fitness center.
7. Warwick Allerton Chicago – Moderate
Landmark hotel in the Magnificent Mile with a restaurant and bar, fitness center, business center, valet parking (fee applies), free morning coffee in the lobby, and historic furnishings. Rooms feature desks, minibars, and marble bathrooms. Located 5 minutes on foot (0.2 mile) from Water Tower Place, 6 minutes (0.3 mile) from the Museum Of Contemporary Art Chicago, and within blocks of many shops and restaurants.
8. The Palmer House Hilton – Moderate
Located a 3-minute walk (0.1 mile) from the Art Institute of Chicago and a 7-minute walk (0.3 mile) from the Cloud Gate sculpture, this iconic Chicago hotel features two restaurants, a bar, fitness center, full-service spa, and business center. Every room has a desk and ironing facilities, and some rooms include two bathrooms, separate sitting areas, and executive lounge access.
9. The Silversmith Hotel – Moderate
Elegant boutique hotel with a restaurant, fitness center, valet parking for a fee, and room service, located a 7-minute walk (0.3 mile) from the iconic Cloud Gate sculpture at Millennium Park. Guest rooms feature Keurig coffee makers, designer toiletries, high ceilings, and refrigerators. Numerous restaurants, shops, and attractions are on the surrounding blocks.
10. Best Western Grant Park Hotel – Moderate
Modern hotel centrally located hotel across the street from Grant Park, an 11-minute walk (0.5 mile) from the Field Museum, and a 14-minute walk (0.7 mile) from Soldier Field, featuring an outdoor terrace, restaurant, fitness center, business center, and valet parking for a fee. In addition to standard rooms, deluxe rooms and suites are available with refrigerators, microwaves, desks, and lake views.
11. Congress Plaza Hotel Chicago – Moderate
Historic hotel near Grant Park and a 7-minute walk (0.3 mile) from the Art Institute of Chicago, with two restaurants, bar, fitness center, barbershop, and business center. All rooms have desks or sitting areas, coffee makers, and marble bathrooms, and some rooms offer views of Lake Superior.