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Old 07-26-2011, 02:53 AM
 
427 posts, read 461,456 times
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Quote:
Originally Posted by millennialmom View Post
Yes, he's been doing this since beginning of April. He leaves around 6:15am and makes it in about 40 minutes on the Kennedy. Little bit longer coming back in the evening. He usually takes 290 back in to the city and averages 1hr/1hr 10.

I'm not sure how long this will last but since we have an opportunity to live in the city, we want to do it for now. It's a welcome change from suburban life, where we raised our family. The uniqueness of this experience justifies the commute, for now. As empty nesters, we're really enjoying downtown.
After a few weeks in winter making this commute, he will be asking for mommy.
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Old 07-26-2011, 05:10 AM
 
Location: Troy, MI
143 posts, read 459,378 times
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Quote:
Originally Posted by sydbarrett View Post
After a few weeks in winter making this commute, he will be asking for mommy.

Agreed. We're thinking this could be the case come winter. I won't be surprised if the uniqueness wears off and the commute is no longer justified. It will be his call. For now, he wants to pursue the downtown option.
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Old 07-26-2011, 05:32 AM
 
Location: Chicago
38,707 posts, read 102,959,730 times
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Quote:
Originally Posted by millennialmom View Post
Yes, he's been doing this since beginning of April. He leaves around 6:15am and makes it in about 40 minutes on the Kennedy. Little bit longer coming back in the evening. He usually takes 290 back in to the city and averages 1hr/1hr 10.

I'm not sure how long this will last but since we have an opportunity to live in the city, we want to do it for now. It's a welcome change from suburban life, where we raised our family. The uniqueness of this experience justifies the commute, for now. As empty nesters, we're really enjoying downtown.
I knew a couple who are in your shoes. When it was all over, they ended up buying a modest house out in the suburbs where they stayed during the weekdays and spent the weekends in their condo downtown.
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Old 07-26-2011, 08:36 AM
 
1,325 posts, read 4,188,494 times
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millennialmom. Be aware that if you rent a condo (or apartment for that matter) the standard lease verbiage almost always gives the owner the right to show (by giving notice) and sell the unit while you are living there. Even though your lease would most likely remain intact until the termination date.

This is a particular problem with condos because many owners are renting with the intent of selling. If they decide to list it with an agent while you live there your life can be very unpleasant (even if the realtor is required to give you 24 hrs notice before every showing). Also, it can mean you may have to move again after the termination of your lease. This is almost never an issue with an apartment, just a condo rental.

Good luck with your move as you consider all these possibilities.
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Old 07-26-2011, 10:25 AM
 
Location: Houston
279 posts, read 758,665 times
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Quote:
Originally Posted by millennialmom View Post
Do you have a recommendation on a source to use to connect with condo owners?
They are often listed in the MLS. You could go to the website of one of the major real estate companies that operates downtown and do a search for rentals in the downtown zip codes. Most should have this option when searching.
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Old 07-26-2011, 11:29 AM
 
1,210 posts, read 3,056,132 times
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Quote:
Originally Posted by sydbarrett View Post
After a few weeks in winter making this commute, he will be asking for mommy.

Honestly I didn't find the traffic in my commute to oakbrook much different, if at all, in the winter. I realize this might not hold true for a different commute but the issue with commutes is congestion. In theory you would think snow would lengthen your commute, but since you're always going 10 miles an hour anyway the snow rarely had any effect. You crawl regardless of rain or snow because there are too many cars to go fast. My 2 cents anyway.
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Old 07-26-2011, 11:41 AM
 
Location: Troy, MI
143 posts, read 459,378 times
Reputation: 29
Quote:
Originally Posted by soulful View Post
millennialmom. Be aware that if you rent a condo (or apartment for that matter) the standard lease verbiage almost always gives the owner the right to show (by giving notice) and sell the unit while you are living there. Even though your lease would most likely remain intact until the termination date.

This is a particular problem with condos because many owners are renting with the intent of selling. If they decide to list it with an agent while you live there your life can be very unpleasant (even if the realtor is required to give you 24 hrs notice before every showing). Also, it can mean you may have to move again after the termination of your lease. This is almost never an issue with an apartment, just a condo rental.

Good luck with your move as you consider all these possibilities.

This is a great point to keep in mind. Many thanks for your insights !!
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Old 07-26-2011, 06:25 PM
 
Location: Cleveland, OH USA / formerly Chicago for 20 years
4,068 posts, read 7,292,745 times
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Quote:
Originally Posted by soulful View Post
millennialmom. Be aware that if you rent a condo (or apartment for that matter) the standard lease verbiage almost always gives the owner the right to show (by giving notice) and sell the unit while you are living there. Even though your lease would most likely remain intact until the termination date.

This is a particular problem with condos because many owners are renting with the intent of selling. If they decide to list it with an agent while you live there your life can be very unpleasant (even if the realtor is required to give you 24 hrs notice before every showing). Also, it can mean you may have to move again after the termination of your lease. This is almost never an issue with an apartment, just a condo rental.

Good luck with your move as you consider all these possibilities.
It's sometimes an issue with an apartment if the building owner decides to convert to condos. That happened in many, many rental buildings (including my own) over the past 10 years or so. Maybe less likely right at the moment since the market is already glutted with condos.
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Old 07-27-2011, 06:44 AM
 
Location: Houston
279 posts, read 758,665 times
Reputation: 157
Quote:
Originally Posted by soulful View Post
millennialmom. Be aware that if you rent a condo (or apartment for that matter) the standard lease verbiage almost always gives the owner the right to show (by giving notice) and sell the unit while you are living there. Even though your lease would most likely remain intact until the termination date.

This is a particular problem with condos because many owners are renting with the intent of selling. If they decide to list it with an agent while you live there your life can be very unpleasant (even if the realtor is required to give you 24 hrs notice before every showing). Also, it can mean you may have to move again after the termination of your lease. This is almost never an issue with an apartment, just a condo rental.

Good luck with your move as you consider all these possibilities.
Yes, this is a good point. However, many of the condos available for rent downtown are also owned by investors who have no intention of selling their condos right now and just want to rent it out for a while and get the cash flow. Point being, this scenario is not necessarily a risk. You just have to make sure you understand what the motives of the owner are. If the same unit is already on the market for sale as well as for rent, that should definitely be a red flag.
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Old 07-27-2011, 08:18 AM
 
968 posts, read 2,658,341 times
Reputation: 431
Some other thoughts on Condo rentals :
- Some unit owners are 'first time' or 'single unit' landlords , and don't understand their obligations under the Chicago Landlord -Tenant Ordinances and such ..not big issues , but this governs security deposits, etc . In many cases, they and you as the renter are covered under this ordinance.
- Make sure you and the landlord understand how requests for repairs, service, etc. are handled in the building. In some cases, the building/association is responsible for repairs, in other cases it's the unit owner. Some building require confirmation w/ the unit owner if a work order is called in .
- it's hard to check, but there's always a slight risk of foreclosure , which puts you in a bit of a bind. I'd ask for some sort of 'exit clause' for this contingency if not already in the lease.
- Make sure you know the rules of the association; the unit owner can be fined for renters violations, and , in extreme cases, the association can initiate eviction actions against a renter. Many associations require a 'follow all the rules' clause in the lease .
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