12 Budget-Friendly Hotels in Chicago with Upscale Perks

Aug.4.2026

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You’ll spend a solid amount as you take on the city’s top sites, from architecture tours to boutique shopping to rooftop bars. That’s not counting big-ticket items like attending an MLB game at Wrigley Field or going all in on a St. Patrick’s Day adventure.

In short, I recommend saving your travel budget for experiences in Chicago. While the city is home to high-rise rentals and hotels, they aren’t ideal for savings. Instead, you can funnel more money toward the experiences and activities that mean the most to you by booking a room at these budget-friendly hotels in Chicago that won’t break the bank.

At the time of writing, all Chicago hotels listed below have room rates of $200 per night or less. Happy hunting!

12 budget-friendly hotels in Chicago: top 3

Cheapest: Ohio House Motel
Feels most upscale: The Drake or Le Méridien Essex Chicago
Best location: ACME Hotel Chicago, Outset Collection by Hilton

12 budget-friendly hotels in Chicago that feel upscale

The Drake

The setup: The Drake is located in an Italian Renaissance building that’s part of the National Register of Historic Places. Its placed right at the top of Chicago’s Magnificent Mile, giving you a royal-style stay—without the insane price tag.
Top amenities: You’re across the street from the popular Oak Street Beach, complimentary afternoon tea on the weekends, 24-hour fitness center, on-site coffee shop, on-site dining, on-site bar, and rooms with a view.
Most affordable room: Go for their Room – 1 Queen Bed or Room – 1 King Bed.

Hotel Saint Clair- Magnificent Mile

The setup: This is a 16-floor hotel that’s also located on the highly coveted Magnificent Mile. It’s a fresh new concept that blends bold style with historic charm.
Top amenities: On-site Mediterranean dining, fitness center, quality toiletries, and on-site coffee shop.
Most affordable room: Standard Room – 1 King Bed is their most affordable room, but you can find steals across multiple rooms at Hotel Saint Clair.

Freehand Chicago

The setup: A deeply swanky and ultra-trendy boutique hotel that comes with shared hostel-style rooms or private options. Even the on-site bar is a hit for locals who like great eats and top-notch mixology.
Top amenities: Popular on-site bar-restaurant, high design throughout, prime River North location, complimentary game nights, and fitness center.
Most affordable room: The Premium Queen is the most spacious layout, but you can find a setup that works for your budget at Freehand Chicago—you won’t go over the $200/night rate.

Millennium Hotel Knickerbocker Chicago

The setup: Step into a 1927-built Gothic Revival, Beaux-Arts project located near Navy Pier. You’ll feel like you’re stepping onto a Roaring Twenties movie set, especially when you walk through the picturesque, romantic Crystal Ballroom—the setting for some of the city’s fanciest weddings.
Top amenities: Live jazz martini bar with 1920s wood-paneled features, fitness center, on-site dining, and on-site bar-lounge.
Most affordable room: Go for the Standard Room – 1 King Bed or the Superior Room – 1 King Bed. You can also find affordable rooms with double beds.

Ohio House Motel

The setup: Check out Chicago’s newly transformed Ohio House Motel. It’s a unique project in the popular River North area close to the Chicago Riverwalk.
Top amenities: Great location in River North and on-site parking.
Most affordable room: Choose between a single-bed room and a two-bed room, both of which come with affordable rates.

Sentral Michigan Avenue

The setup: This swanky property specializes in apartment-style suites that are ideal for long-term stays. You can enjoy upscale perks, too, like the pool with views of the skyline and Lake Michigan, along with an elevated bistro on the ground floor.
Top amenities: Across the street from Grant Park, on-site dining, indoor infinity pool with a view, and apartment-style suites that come with kitchenettes and desks.
Most affordable room: The Studio – 1 Queen Bed is the most affordable, but the 1-Bedroom Apartment is also available for a slightly higher nightly rate.

Le Méridien Essex Chicago

The setup: This is a fresh, stylish hotel with high-design communal spaces and a bi-level bar setup that’s home to the popular SX Sky Bar. The on-site bistro is also elevated, letting you enjoy French wine pairings.
Top amenities: On-site nightclub, on-site lounge and restaurant, across the street from Grant Park, on-site dining, fitness center, and pets stay for free.
Most affordable room: Choose from over ten room types that are similar but come with different accessibility features—none will put you over budget.

citizenM Chicago Downtown

The setup: CitizenM is a hotel chain that offers micro-hotel-style rooms and dynamic shared spaces, making it similar to a pod hotel. They’re great for those who enjoy socializing and plan to spend most of their time out on the town.
Top amenities: Premium bedding, large windows, close to the Riverwalk, fitness center with a view, on-site bar and restaurant, and curated art throughout.
Most affordable room: Choose from King Bed rooms that are differentiated by floor. If you want a sprawling city view, pay a little more for a high-floor room.

Hilton Chicago

The setup: You’ve got a unique combination of historic features in this building, along with exciting new design features. Think: a large Athletic Club, along with features like a Grand Ballroom inspired by Versailles.
Top amenities: Indoor pool, hot tub, on-site Irish pub with live entertainment and games, on-site dining, and restored historic murals throughout the property.
Most affordable room: Go for the Room – 1 King Bed for affordable rates.

DoubleTree by Hilton Chicago – Magnificent Mile

The setup: With a stylish rooftop pool and a location on the Magnificent Mile, this hotel is a no-brainer. You’ve got all the amenities from the familiar mid-range brand set inside an ultra-cool high-rise.
Top amenities: Rooftop pool, seasonal sun terrace, on-site restaurant and bar, and fitness center.
Most affordable room: TheirContemporary Two Queen Room is the most affordable option, but the Room – 1 King Bed – Corner is available for not much more—and it comes with a great view.

The Godfrey Hotel Chicago

The setup: If you want to enjoy sky-high views in Chicago, this hotel offers an awesome rooftop lounge that you can enjoy any season. It also has a solid location in River North.
Top amenities: On-site dining, rooftop lounge that’s open year-round, on-site spa, fitness center, and high-quality toiletries from Malin + Goetz.
Most affordable room: Their Deluxe King sets you up in style without putting you over your budget.

ACME Hotel Chicago, Outset Collection by Hilton

The setup: You’re in the heart of the sought-after River North neighborhood at ACME. The hotel is also known for its lush design that melds classic features with high-tech additions, like a fully digital keycard system that runs on your phone.
Top amenities: On-site bar, on-site bakery, on-site restaurant, fitness center, and high-tech features. The coolest amenity is the private hot tub party that you can reserve for up to 15 people.
Most affordable room: Go for the Standard Room – 1 King Bed for an effortlessly cool stay.

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