Retiring to Chicago (lease, insurance, upkeep) - Illinois (IL) - Page 2 - City-Data Forum

SubconsciousMe · 03-04-2015, 07:41 AM

At my job, I see a good amount of retirees that actually move to Chicago due to many of the reasons the OP posted.

You have a lot of great suggestions, the only thing I would add is that if you want to be within walking distance of a CTA train know that not all trains have elevators/escalators. I don't know your health, and I'm not presuming anything, but in the dead of winter sometimes that stairs can be challenging for me.

MassVt · 03-04-2015, 10:57 AM

As long as you find a reasonably-priced apartment, within walking to an L line, retirement in Chicago could be very nice, and quite a bit of fun. Just no end of things to do, and certainly less of a load on one's wallet than San Francisco..

tjasse · 03-04-2015, 11:28 AM

Chicago seems like an ok place to retire, but if you're already set up in Oakland...
That area seems better to me simply because of weather and closeness to SF and a lot of cool nature stuff.
Outside of housing, Bay Area isn't really more expensive than anywhere else. I found SF to have the best cheap to mid priced food in the whole country. Chicago actually is more expensive for food and shopping and has a lot of extra taxes and fees. Maybe you're just sick of it out there and want to try something new, though. That is valid but if you can I'd try to hang on to your spot and then see if Chicago fits. Keep an option to go back. I left SF for the midwest a couple years ago and it was a bad move. I might not ever be able to afford to move back.

MassVt · 03-04-2015, 03:36 PM

Quote:

Originally Posted by tjasse

Chicago seems like an ok place to retire, but if you're already set up in Oakland...
That area seems better to me simply because of weather and closeness to SF and a lot of cool nature stuff.
Outside of housing, Bay Area isn't really more expensive than anywhere else. I found SF to have the best cheap to mid priced food in the whole country. Chicago actually is more expensive for food and shopping and has a lot of extra taxes and fees. Maybe you're just sick of it out there and want to try something new, though. That is valid but if you can I'd try to hang on to your spot and then see if Chicago fits. Keep an option to go back. I left SF for the midwest a couple years ago and it was a bad move. I might not ever be able to afford to move back.

Groceries, taxes, shopping, etc are a mere drop in the bucket. Housing is, by far, the most important factor in any relocation decision.

tjasse · 03-04-2015, 04:12 PM

I agree, but I guess what I meant was, if he's been there for awhile, he's probably already got a place he can afford. Oakland has rent control.

My apartment in SF was only $1450 a month because I had lived there for 10 years. I don't think I could find the same type of place in Chicago in as nice of a neighborhood for less than $1800. Now that I moved out, that same place is renting for over 3 grand. That is what I meant by not being able to afford to move back. If he moves to Chicago, he may or may not save any money. I moved to Minneapolis and my apartment is only $25 less than my place in SF. Chicago rents are higher than they are here, especially in nice areas.

It's shady, but I know some people who moved out of SF (to NYC) and sublet their apartment on the sly because they are not sure if they are going to stay. That is mostly what I was alluding to when I said "keep an option to move back." I wish I had done that, but my landlord lived in the building so I'm pretty sure he would have caught on.

eureka1 · 03-05-2015, 11:44 AM

Quote:

Originally Posted by SubconsciousMe

At my job, I see a good amount of retirees that actually move to Chicago due to many of the reasons the OP posted.

You have a lot of great suggestions, the only thing I would add is that if you want to be within walking distance of a CTA train know that not all trains have elevators/escalators. I don't know your health, and I'm not presuming anything, but in the dead of winter sometimes that stairs can be challenging for me.

This is really important!!!

dmbsmokey · 03-05-2015, 03:36 PM

Quote:

Originally Posted by eureka1

This is really important!!!

Thanks for your comment. I am in excellent physical health, but if climbing stairs to an L station becomes tough during cold weather, I'll just take them nice and slow. Thanks!

joe1024 · 03-06-2015, 05:54 AM

Everybody seems to talk about 'L' as if it was the only way how to go around the City. But it isn't. Around the Lakeview area (and I am pretty sure there's maybe hundred similar areas in this regard), you will have bus stops every 50 meters in each direction. There is zero technical difficulty in boarding the bus compared to climbing the 'L' stairs up (and especially down, as a fall from that height will definitely kill you). Honestly, for those few times you'd actually need 'L', you'll be fine walking 15 minutes to the nearest stop. But most probably, some other combination of buses will get you to your destination as fast (assuming you won't try to travel at the peak times), considering the walk to 'L' and back.
Right now, the CTA pass is $104 a month and you can travel as much as you want (not sure when the senior discount kicks in). I'd budget that right away, as the convenience is just fantastic.

When I moved to Lakeview I had a hard time finding 2-bedroom under 1,800. Once I lived there and walked around, I saw lots and lots of local ads on the apt buildings for under $1,500 and eventually found even one for $1,350. Give it a year to figure out the priorities and you can slowly start finding another apartment at a more convenient location for a better price after first 6 months. I'm pretty sure that's true about any location. Higher-priced apartments occupy the paid listings, and the cheaper ones are left to those who are willing to do a bit of manual research on the spot. For which, you should have a plenty of free time, I reckon.

sfcambridge · 03-06-2015, 02:11 PM

I have lived in the Bay Area and Chicago for many years, and moved back to Chicago as my parents got older to help them out more. They were just a little older than you when they developed serious health problems.

Great things about Chicago as a place to retire.... overall, still more affordable than the Bay Area. Great city offerings for reasonable prices, including amazing cultural/food/museums/concerts and many for free or affordable prices. Great free summer festivals. Pretty good public transportation. Nice Universities nearby that also have cultural offerings for the community.

But I gotta be honest.... your retirement income is modest. You will need to be careful/frugal. I suspect that the terrible financial situation of the State of Illinois will soon lead to increased taxes for retirees, so be prepared for that.

Also realize that you never know what is going to happen with your health. I am going to assume that you are retired at this young age because you have excellent health insurance and you are not paying several hundred dollars a month in premiums that is will eat into your income. If you don't, I would think very carefully about moving to Chicago, as it still may be too high a cost of living for you. It is shocking how quickly your out of pocket costs can increase if you have serious medical issues and are on Medicare. Just be prepared.

My parents were healthy at your age, and then within a couple years my Mom was diagnosed with cancer and my father was critically injured in a car accident. It was brutal for them to be living in Chicago winters when they became disabled. Just realize that Chicago may not work for you long term - especially if you don't have close family or friends to be there if/when you need support. The doctor/hospital options are decent, which are important variables when you are older. But if you break a hip, develop back pain, get cancer, have a heart attack etc.... it may not be realistic to think you can live the easy car-free life in Chicago winters, on your income. I am being honest.

Let's just say I would move my father to your old apartment in the Bay Area in a heartbeat if he would agree.

MassVt · 03-06-2015, 08:20 PM

Let's not exaggerate the "Chicago winter" factor when discussing retirement options. THere are also many cab options, and taking an occasional cab in Chicago is not going to break the bank (especially when compared with the upkeep of a car, i.e. gas, insurance, maintenance, payments, etc).