A question regarding Rent : Chicago

[Joy Pathak]

Hey guys, So I found this amazing Studio apartment in Chicago.

It's $710.

IT's in the Near North side / Gold Coast area , two blocks from the John Hancock center and 3 blocks from the lake side beach.

The price includes internet and all utilities. It's unfurnished.

What do you guys think? I think it's a great deal for the price and location.

Just want your opinions.

 

[bigbadwolf]

Hey guys, So I found this amazing Studio apartment in Chicago.

It's $710.

IT's in the Near North side / Gold Coast area , two blocks from the John Hancock center and 3 blocks from the lake side beach.

The price includes internet and all utilities. It's unfurnished.

What do you guys think? I think it's a great deal for the price and location.

Just want your opinions.

Find out what the catch is. In my case, if I'm offered a good deal, I bluntly ask the other party why he's offering such a bargain. I've learnt to do this from experience. It usually turns out the bargain is no bargain at all.

 

[Joy Pathak]

It's a small studio apartment I guess. 13 by 9 and on the third floor?. Other than that, no catch. I saw some good ratings online on reviews of the building. The landlord seemed really nice. The location is just unreal for the price. A 14*17 studio apartment in one of the low end high rises in downtown is 855$ to start.

I just put a hold on the apartment.

 

[bigbadwolf]

It's a small studio apartment I guess. 13 by 9 and on the third floor?.... A 14*17 studio apartment in one of the low end high rises in downtown is 855$ to start.

Okay, tiny studio -- it's half the size of apartments going for $855. But 13x9 is really tiny -- you are of course talking feet and not meters, right? But then these dimensions can't include a bathroon, a kitcheonette. In meters, it's too big for a studio.

 

[Joy Pathak]

yeah. it's a tiny studio. I am talking in feet. Yeah, the 855 are 14 by 17, but there is no option of anything less than 850 anywhere downtown. Except this place.

It does not include the washroom and kitchen and closets etc. Just the main area is 13 by 9. The Gold Coast area where it is located is suppose to be one of the best neighborhoods of Chicago I think. It is also 3 blocks from the beach.

It's also in the general downtown area.

I think it's a good deal?

 

[bigbadwolf]

I think it's a good deal?

It's in the eye of the beholder. But if you dished out a bit more, you'd get something twice the size. 13x9 means a bed-cum-settee, a chair and small table, and some leg room. You'll probably start feeling claustrophobic after a while.

 

[Joy Pathak]

Yeah, I cannot afford any more. Even 700 was pushing it. I wanted to be close/in downtown and have my own place and not be expensive. lol This seemed ideal.

I have lived in rooms that small before, if not smaller and spent 98% of my time in the room. Worse comes to worse, if I feel claustrophobic I will go on the rooftop deck and enjoy the downtown and lake view for a bit until winter hits.

I just put a hold on it. At least one big hassle about housing is done. Now to actually get the MFE degree.

 

[GoIllini]

yeah. it's a tiny studio. I am talking in feet. Yeah, the 855 are 14 by 17, but there is no option of anything less than 850 anywhere downtown. Except this place.

It does not include the washroom and kitchen and closets etc. Just the main area is 13 by 9. The Gold Coast area where it is located is suppose to be one of the best neighborhoods of Chicago I think. It is also 3 blocks from the beach.

It's also in the general downtown area.

I think it's a good deal?

So, uh, where is the washroom? Do you share one? Do you have to use a chamber pot? Bear in mind that you're within a mile or two of Cabrini Green which has been trying to move residents elsewhere; just make sure that the place seems above board. You may want to consider making your first lease less than a year. I'm pretty sure everything will be fine, but even if it is, six months of work can change your finances and attitudes about housing more than you'd think.

Shortly after moving into my first apartment, I realized that I lived across the street from a project. There wasn't any violence (though there were a few drug busts), but that was one of the factors (along with a crazy landlord-roommate who demanded rent in the form of blueberries on occasion) that made me consider leaving after six months

 

[Joy Pathak]

What the hell...

No, there is a full washroom. It's just not part of the 13 by 9 feet size. It's an attached washroom and shower/bathtub and all that fun stuff.

The place is by North Dearborn and Oak street if anyone knows the area. It's literally 3 blocks to Oak Street beach.

Cabrini green was demolished though? Also, Gold coast is basically only uptill Clark Street on the west from what I have read. Also, from what I have read, the area is compared to Manhattans "upper east side" . Well at least in the 1990's it was....

Edit:

I am signing a 12 month lease. Going to end MAy 31st 2011 right when I start my internship so its perfect timing. I am not working though. I will be doing my MFE degree so I am on limited budget and safety is also a key thing for me. The moment I start working , hopefully in Chicago, I am moving to Grand PLaza or Bernardin in downtown... LOL Atleast, dreaming too.

 

[GoIllini]

What the hell...

No, there is a full washroom. It's just not part of the 13 by 9 feet size. It's an attached washroom and shower/bathtub and all that fun stuff.

The place is by North Dearborn and Oak street if anyone knows the area. It's literally 3 blocks to Oak Street beach.

Cabrini green was demolished though? Also, Gold coast is basically only uptill Clark Street on the west from what I have read. Also, from what I have read, the area is compared to Manhattans "upper east side" . Well at least in the 1990's it was....

Edit:

I am signing a 12 month lease. Going to end MAy 31st 2011 right when I start my internship so its perfect timing. I am not working though. I will be doing my MFE degree so I am on limited budget and safety is also a key thing for me. The moment I start working , hopefully in Chicago, I am moving to Grand PLaza or Bernardin in downtown... LOL Atleast, dreaming too.

Sorry, I misread that. I was concerned that you were basically going to be staying in a hostel or something of the sort. Given that you have a kitchen and washroom, this sounds like a pretty good situation. I wouldn't quite call the north side Manhattan, but it has a bit of an Upper West Side feel with a lot more space. If I were moving to Chicago, that's where I would probably live (either that or near Grant Park). I believe Cabrini is significantly further north and west of where you are, and it's being downsized, but my understanding is that it's still there and many of the former residents have been moved nearby.

My only other concern is the commute to school. If I may ask, where are you going? I haven't lived in Chicago since the early '90s and I was too young to drive, but I remember really long commutes from Grant Park to the Museum of Science and Industry (Hyde Park, where U. Chicago is). Maybe things have gotten better- and I believe there's a train station at the north end of Grant Park that can take you to Hyde Park- but it's still a pretty long trek either way. Do you have a car?

Chicago is great for commuting in the summer and it arguably has one of the best mass transit systems outside of the Northeast, but when it snows- watch out!

 

[Joy Pathak]

I am actually going to be going to Illinois Tech. I have to commute to Sears towers from john hancock center basically. The business school is by union station. There is bus/red line within 1 block that takes me right where I need to go. It's around 10-15 min bus ride.
Unfortunately in the autmun and winter quarter i will be doing research with a professor at University of Chicago also. U Chicago is almost a 40 min commute, but w/e, it's only for 2 quarters, I think I can juggle. Also a 40 min commute for once a week is doable. The prof is one of the biggest names in Finance, prolly the biggest maybe, so I cannot say no to it. I would do 2 hr commute everyday to have his name on my resume for a research paper. So yeah. I have a car but I don't want to bring it to Chicago. I am just going to get it for move in day and then take it back to my parents and leave it there till I start working. The cost of parking is brutal in Chicago.


Yeah, it's a decent spot for what all I get plus location.
I don't want to stay in the southside. I have heard too many scary stories. I wanted to stay in the UIC / little italy area but so hard to find a place there because everyone wants you to come in and see in person.

This place just seems so unreal from what I have read about the area.

 

[GoIllini]

I don't want to stay in the southside. I have heard too many scary stories. I wanted to stay in the UIC / little italy area but so hard to find a place there because everyone wants you to come in and see in person.

Many of the scary stories were from the early '90s or before. When I left, Roosevelt Road was the dividing line between safe neighborhoods and miles and miles of Gangland. Hyde Park was a relatively safe island. Today, I know there's a lot of safe places at least a mile or two south of there.

I still like the idea of staying in the dorms or near campus. Also, make sure you make the deposit in person after seeing the room- or at least pay via escrow or credit card.

Edit: Missed Sears Tower. IIT is normally by Comiskey Park. Didn't know their B-school was at Union Station.

 

[Joy Pathak]

I put the hold on the place via credit card. All the payments for rent are made through rentpayment.com

They sent lots of pictures of the room and the apartment building(inside and outside). It's small studio apartment. Everything else is legit. They sent pictures of the same unit I will be renting.

If I upgrade then they will cancel my lease. There are options of upgrading within the apartment building or within one of there 3 apartment buildings on Dearborn street.

I live 5 hrs away and am doing refresher courses right now so can't go and visit until my semester is done. I might take a ride down one of these days on a weekend. I am going to fill out the application for lease and send it tomorrow.

I read lots of reviews on the apartment building online and saw nothing but good things and very consistent reviews. There was the odd one out but that is expected.

The location, I have heard nothing but good news.

I think it is a good deal overall. I have been searching for 1.5 months now and have found nothing good and affordable. I sent out more than 100 emails for shared apartments and barely got any responses. Everyone wants to meet you in person first.

Regarding on campus housing, I would 100% be down for that but unfortunately there is none at their downtown campus. I would have to live at their main campus in the South Side between downtown and U Chicago. The cost would be almost similar also.

 

[Joy Pathak]

So I checked it out the other day. It's a shoebox ... It's nice for a student. It's 120 sq feet. Amazing view and what not from roof.. but the living space not including kitchen washroom and closet its 120 sqft. A 500 sqft is 1150$ minimum in the same area and 120sqft is 700$ ... lol and nothing in between to choose from.

Should be a good time for a year. 2 blocks from the beach and more than 50 restaurants in a 5 min walk. 15 min train from the uni and financial center.

The price of going to school in the big city...