11 Best Cheap Hotels in Chicago on the Magnificent Mile

Are you planning a trip to the Windy City, a.k.a the City of Big Shoulders, a.k.a Chicago? If so, Magnificent Mile is the best place for accommodation! Also known by travelers as the Mag Mile, it’s an upscale neighborhood on Chicago’s Michigan Avenue. It’s conveniently connected to downtown Chicago and is home to luxury department stores, popular restaurants, and boutique bars. Considering everything this area has to offer, of course, there are plenty of hotels there. Thankfully, five-star hotels aren’t the only option available. There are tons of cheap hotels in Chicago on the Magnificent Mile, and many don’t feel like budget hotels at all! To help you decide which cheap hotel in Chicago Magnificent Mile is for you, we’ve selected some of the top options for you to consider. Here are our recommendations!

The Chicago Hotel Collection Magnificent Mile

11

Kicking off this list is The Chicago Hotel Collection Magnificent Mile, one of the most popular cheap hotels in Chicago near Magnificent Mile. Set on a tree-lined street, this beautiful hotel is only a two-minute walk away from the shops along Michigan Avenue and a mile away from places like Water Tower Place, 360 Chicago, and the Arts Club of Chicago. That way, you’ll never run out of things to do in Chicago! What’s more, the amenities offered by this hotel are amazing. There’s daily housekeeping, a business center, a 24-hour front desk, and a fitness center. Better yet, this is one of the best pet-friendly hotels in Chicago!

Regarding the guestrooms, you can rest assured that you’ll have a soundless sleep every night. Featuring original artwork, each well-appointed room is fitted with free Wi-Fi, a flat-screen TV, a safe, and other standard in-room amenities. If you don’t mind spending a bit more to have more space, you can book the suite instead. It comes with an extra pull-out sofa and a seating area.

Hotel Saint Clair – Magnificent Mile

10

Set in a redbrick building, Hotel Saint Clair – Magnificent Mile is another great addition to our list of the best cheap hotels in Chicago, IL, near Magnificent Mile. This budget lodging offers you accommodation options with free Wi-Fi, a flat-screen TV, and a coffee maker. Dominated by white, some of the rooms are also pet-friendly! Meanwhile, upgraded rooms come with an additional mini-fridge and microwave, letting you keep your food in good condition and reheat it when necessary. Best of all, kids can stay at no extra cost, making it one of the best family hotels in Chicago.

Offering beautiful city views, this cheap hotel in Chicago Magnificent Mile also has vending machines, concierge service, and a 24-hour front desk. While there’s no restaurant on-site, you can still get a taste of Chicago favorites as there are many restaurants just a few blocks from the hotel. This hotel is located only moments away from the Arts Club of Chicago, Millennium Station, Michigan Avenue, Northwestern Memorial Hospital, and many more.

The Whitehall Hotel

9

While many cheap hotels in Chicago, IL, near Magnificent Mile, The Whitehall Hotel is easily one of the best. This amazing hotel is only a short walk away from the John Hancock Center, Loyola University Museum of Art, 360 Chicago, Water Tower Chicago, Michigan Avenue, and many other top attractions. Aside from its favorable location, this hotel also has many great amenities. They include a state-of-the-art fitness center, a business center, and a meeting space. There’s also an Italian restaurant and a Chinese eatery on-site for those who are starving.

Like other cheap hotels in Chicago near Magnificent Mile, the hotel’s relaxed and comfy rooms are equipped with free Wi-Fi and a flat-screen TV, so you’ll never be bored. Want to keep your drinks cold? There’s also a mini-fridge in each room. Plus, the marble bathroom is spotless and comes with free toiletries. As one of the best cheap hotels in Chicago on the Magnificent Mile, it also offers spacious suites with a living and dining area.

Courtyard Chicago Downtown/Magnificent Mile

8

Have an unforgettable Chicago trip by staying at Courtyard Chicago Downtown/Magnificent Mile, one of the best cheap hotels in Chicago on the Magnificent Mile! This budget-friendly, high-rise downtown hotel offers mesmerizing views of Michigan Ave and the vibrant Magnificent Mile. The contemporary rooms come with free Wi-Fi, a flat-screen TV, an oversized work desk, a mini-fridge, and a coffee maker for your convenience. Better yet, some rooms feature a pull-out sofa!

Considered one of the top cheap hotels in Chicago, IL, near the Magnificent Mile, this property also boasts a modern fitness center for those who want to keep their bodies in check. After a productive workout session, you can relax with a newspaper by the fireplace in the spacious lobby. Also, don’t forget to get some drinks and snacks from the vending machines. Feel free to dip in the pristine indoor pool if you prefer relaxing in the water. Speaking of which, have you read our list of the best hotels with indoor pools in Chicago?

AC Hotel Chicago Downtown

7

You can’t go wrong by staying at AC Hotel Chicago Downtown, one of the top cheap hotels in Chicago on the Magnificent Mile. This hotel won’t disappoint you with European sophistication and boutique style! Featuring free Wi-Fi, each luxuriously furnished guestroom has a flat-screen TV, a mini-fridge, a coffee maker, and other standard in-room amenities you could ask for. Meanwhile, upgraded rooms and suites have an additional seating area and a private balcony!

As one of the most popular cheap hotels in Chicago, IL, near Magnificent Mile, this property also has a modern cocktail bar for those who want to have a drink and meet new people. Are you looking for a spot to relax? Feel free to take a relaxing dip in the indoor pool or work up a sweat in the modern gym. Aside from that, there’s also a convenience store on-site! We also love the hearty breakfast, though it’s only available for a surcharge.

Chicago Marriott Downtown Magnificent Mile

6

Surrounded by shops and restaurants along the crowded Magnificent Mile, the Chicago Marriott Downtown Magnificent Mile is another great option we’d love to recommend. As one of the top cheap hotels in Chicago on the Magnificent Mile, this 46-floor hotel is only a short walk away from some of the most popular hotspots in Chicago. They include the Chicago Tribune Tower, Bridgehouse and Chicago River Museum, Water Tower Chicago, Millennium Park, and many more. Want to walk along the river? The Chicago Riverwalk is also within easy reach!

All sleek and stylish rooms at one of Chicago’s best hotels have a flat-screen TV, free Wi-Fi, an oversized work desk, a coffee maker, and plush bedding. Some rooms even come with skyline views! If you upgrade your room, you’ll have access to a lounge with complimentary breakfast and snacks. Sounds fun, right? Apart from that, this cheap hotel in Chicago Magnificent Mile also features an expansive fitness center, a hip lobby bar, and a rooftop garden.

Hotel Julian Chicago

5

Up next on this list is Hotel Julian Chicago, a budget-friendly hotel that brings together the sophistication of the Magnificent Mile, the artistic vibe of the Cultural Mile, and the vibrant atmosphere of the Loop neighborhood. Though not the fanciest, it offers you all the essential facilities you need. There’s a 24-hour front desk, concierge service, multilingual staff members, and a fitness center. Even better, unlike some cheap hotels in Chicago on the Magnificent Mile, this hotel offers you free Wi-Fi that can be accessed in all areas.

Each stylish, spacious room on the property is fitted with Italian linens and designer toiletries. The flat-screen TV will keep you entertained when you’re bored, and a coffee maker and mini-fridge will make you feel at home. That’s not all, as some rooms also have floor-to-ceiling windows that boast panoramic city views. Imagine waking up to the view of the Magnificent Mile! Additionally, room service is also available. No wonder it’s called one of the best cheap hotels in Chicago near Magnificent Mile!

Warwick Allerton Chicago

4

Who says the cheap hotels in Chicago on the Magnificent Mile can’t let you have a nice holiday? The Warwick Allerton Chicago is proof that luxury hotels in Chicago aren’t the only option for you! This imposing 1920s-era hotel is only a stone’s throw away from some of the best attractions in the area. The Michigan Avenue, Water Tower Chicago, Chicago Museum of Contemporary Art, Time Life Building, and Shops at Northbridge can all be reached without breaking a sweat. Need some food to fill your stomach? Perfect, as countless restaurants and cafes are sprinkled around this cheap hotel in Chicago Magnificent Mile.

Like other best cheap hotels in Chicago, IL, near Magnificent Mile, this property also offers many great amenities. For instance, a huge American restaurant serves breakfast and lunch. Meanwhile, those who want to chillax can take a seat in the stylish lounge. Or, you can also burn some calories in the 24-hour fitness center with city views. Moreover, each homey room features a marble bathroom, a flat-screen TV, paid Wi-Fi, and an iPod docking station. Some of them even boast beautiful views of downtown Chicago!

Millennium Knickerbocker Chicago

3

Only a block away from upscale shopping and popular eateries along the Magnificent Mile, the Millennium Knickerbocker Chicago is a budget-friendly hotel that lets you have a memorable trip in Chicago. Housed in a 1927 building, this cheap hotel in Chicago Magnificent Mile is only a few minutes from the Museum of Contemporary Art Chicago on foot. Apart from that, 360 Chicago, Water Tower Place, Oak Streat Beach, Navy Pier, and more are also within easy reach. The amenities that the hotel offers are also as impressive. There’s a 24-hour business center as well as a fitness center. For dining, you can feast at the Midwestern-themed restaurant or have a drink at the martini bar.

When it’s time to rest your tired body, head back to your guestroom! As one of the best cheap hotels in Chicago on the Magnificent Mile, you can rest assured that each room is fitted with standard amenities. All stylish rooms come with a coffee maker, Italian bedding, a flat-screen TV, and bathrobes. Some of them also offer a private dressing area and rainfall showerhead. Need to finish your work? You might want to stay in the suite, as it has a seating area and a huge workspace. Better yet, in-room spa services are also available for a surcharge. Unfortunately, the Wi-Fi isn’t available for free.

Selina Chicago

2

Selina Chicago is a great option for those looking for cheap hotels in Chicago, IL, near Magnificent Mile. Set on a tree-lined street, this trendy, affordable hotel is within reach of many popular attractions. For instance, Oak Street Beach is only a nine-minute walk away. Aside from that, Millennium Park is only a mile away, and Lincoln Park Zoo is just two miles away. Aside from its hard-to-beat location, this cheap hotel in Chicago Magnificent Mile also has plenty of awesome amenities. There’s a hip cafe that most guests love, a modern fitness center, a screening room, and a communal kitchen. Best of all, yoga classes and rental bikes are available, too.

Meanwhile, the relaxed rooms on this property have everything you need and more. Free Wi-Fi? Check. A cloud-like bed for a good night’s sleep? Check. A spotless bathroom? Check. If you’re on a budget, you can also stay in one of the dormitory rooms. They feature bunk beds with linens, and spending your nights there allows you to make new friends! There’s also a suite with a private kitchen and a piano. Considering everything it brings to the table, it’s not surprising that it’s named one of the best cheap hotels in Chicago on the Magnificent Mile.

The Drake Hotel

1

Are you still searching for cheap hotels in Chicago on the Magnificent Mile? Then look no further than The Drake Hotel! Opened in 1920, this four-star hotel is surprisingly affordable. This beautiful hotel is only a block away from the Lakefront Trail and only a short walk away from the 360 Chicago observation deck. Walk a little bit further, and you’ll reach the El train station, making getting around a piece of cake. Other nearby top attractions include Oak Street Beach, Water Tower Chicago, Michigan Avenue, and many more.

Furthermore, all traditionally decorated guestrooms are well-appointed. Many of them offer lake views and elegant furnishings. You can expect standard in-room amenities in each room, including a flat-screen TV, plush bedding, complimentary toiletries, and free Wi-Fi. If you want more space, you can book the suite with an additional seating area and access to the lounge with complimentary breakfast and snacks. Speaking of which, there are four in-house restaurants, giving you plenty of options. Other notable amenities at this cheap hotel in Chicago Magnificent Mile include a business center, a modern gym, and a meeting space.

Top Affordable Bars in Chicago on the Magnificent Mile

• Streeter’s Tavern – Offering daily drink specials and games like ping-pong, this is one of the few places on the Magnificent Mile that offers cheap drinks. The staff is also friendly!
• Z Bar – Offering creative cocktails and global tapas, this bar is another recommended place for those searching for cheap drinks. Aside from the cocktails, it’s also known for its terrace that provides scenic city views.
• Pippin’s Tavern – This is a decades-old neighborhood pub that offers free Wi-Fi and cheap drinks! The staff is great, and there’s a hot dog place next door.

Top Affordable Restaurants in Chicago on the Magnificent Mile

• Billy Goat Tavern – A well-known hamburger restaurant specializing in cheeseburgers, this restaurant is one of our favorites. The hot dogs are also great, and most of the menus are cheap.
• Panda Express – Those who want to have Chinese food should visit Panda Express. This fast-food chain offers many cheap menus, including some health-conscious options.
• Cafecito – Serving pressed Cuban sandwiches, this coffeehouse is a must-visit. It also offers salads, platters, and more.

Free Things To Do in Chicago on the Magnificent Mile

• Museum of Contemporary Art – When you’re on the Magnificent Mile, you’ll want to visit the lakefront Museum of Contemporary Art! Admissions are free on Tuesdays, and it houses post-World War II paintings, sculptures, photos, and more.
• Navy Pier – Though not exactly on the Mag Mile, it’s only a short walk away. This iconic attraction houses the Smith Museum of Stained Glass Windows. You can also stroll the 50-acre playground and take in the views.
• Chicago Children’s Museum – Also a short walk away from the Magnificent Mile, Chicago Children’s Museum is free on Thursdays from 5 to 8 PM! Kids aged 15 and under can visit the museum for free on the first Sunday of every month.