I work in Schaumburg, wife works downtown.... (Chicago, Elgin: real estate market, apartments)

[zzz69]

Hello everyone.

I just graduated from school last May and took a job in Schaumburg about where I-90 and 53 intersect. When we moved here we did now know where my wife would be working so we looked at apartments along the Metra line which would allow her more flexibility in where she worked and would allow us to continue using one car. Right now we live in Elgin, roughly 1/2 a mile away from the Metra station. She took a job in downtown Chicago near the Lincoln Park area. Since we are locked into a one year lease there is obviously not much we can do right now, but in about a year or so it would be nice to move to an area that would be better for this situation.
Since were just starting off, in one-two years we are looking at buying a home 'only' (we moved from Louisville where 200-275 k will buy you a damn nice house) in the 200-275 k range. We dont have kids right now and I am very open to condo living.
Given all of this information, what are some areas that some more experienced Chicago dwellers would suggest for us to look for a home in a year or two or an apartment in the mean-time?

[jessiegirl_98]

Talk to Drover. I'm pretty sure he and his wife have the same split between Schamburg and downtown

[chet everett]

The Schaumburg area is easy to drive to most anywhere, but it is obviously going to involve SOME traffic. Not easy to rely on public transportation for most of the employers out there...

Downtown Chicago IS not Lincoln Park -- miles separate them. If you mean DOWNTOWN it is EASY to take Metra or CTA into ANY jobs, but if you REALLY mean Lincoln Park options get much more complicated. It would be easiest to make recommendation knowing the cross streets where the job will be...

As a general point I think you can forget about owing a single family house for $275K anywhere close to either Lincoln Park, Schaumburg on any point between the two. Condos might even be a stretch. Of course if the bottom falls out and you have a quarter million dollar pile of cash then you will be able to buy stuff in Lake Forest (that is a joke...)

You can, however move MUCH closer than Elgin and still find decent rent. The other good news is that pretty much ANYWHERE east of Elgin is going to be a improvement in the commute. Also you will have much more options for even simple dining moving east. If you want some real urban living there are others that will be happy to steer you into the most "pioneering" of areas, I prefer quiet. I strongly advise NOT buying anything until you are more settled, regardless of what you can afford, unless you are darned sure that you will not NEED/WANT to move from your condo for 5-7 years then just rent until you figure out what is going to work FOR YOU...

[Avengerfire]

There are plenty of condos under 300k that can house two people in this city on the northside.

[zzz69]

Ive actually been able to find a good amount of decent condos under 300 k.

[Drover]

Originally Posted by jessiegirl_98

Talk to Drover. I'm pretty sure he and his wife have the same split between Schamburg and downtown

Yep, and variations on this same topic keep popping up, and my recommendation keeps staying basically the same: look for places along the Blue Line no further south than the Irving Park stop. A place near the Harlem stop would be most ideal because that's about where the outbound Kennedy congestion thins out and starts moving, yet the trip to downtown via the Blue Line train is still within one hour. Look in Jefferson Park, Oriole Park, Mayfair, Norwood Park, or the very southern edge of Park Ridge. Many of these areas also have Metra stations to get you downtown a little quicker than the Blue Line would.

[Drover]

Ah, just caught the part where the wife actually works in Lincoln Park and not downtown... where in LP will she be working?

[chet everett]

Originally Posted by zzz69

Ive actually been able to find a good amount of decent condos under 300 k.

While the massive over building/conversion of condos leaves no shortage of condos well below $300K, the boundaries of Lincoln Park have not changed and it remains extremely desirable / costly.

Chicago-communities County - Real Estate Market Pulse

[aragx6]

Yes but you said Lincoln Park, Schaumburg or anywhere in between would be tough for 275k... that's just not true.

Even 1/1 condos can be pretty easily had in Lincoln Park. hell, here's a 2/1 in Lincoln Park for 269k.: Condo/Townhouse/Co-Op - 2430 N SOUTHPORT AVE Unit: 1R, CHICAGO, IL, 60614 - Realtor.com (http://www.realtor.com/search/listingdetail.aspx?sby=3&zp=60614&ml=3&mxp=23&bd=3 &bth=2&typ=7&sid=ce20ae4ae4d24025841b03db81d2100d& lid=1090679289&lsn=1&srcnt=3#Detail - broken link)

[jessiegirl_98]

Originally Posted by Drover

Yep, and variations on this same topic keep popping up, and my recommendation keeps staying basically the same: look for places along the Blue Line no further south than the Irving Park stop. A place near the Harlem stop would be most ideal because that's about where the outbound Kennedy congestion thins out and starts moving, yet the trip to downtown via the Blue Line train is still within one hour. Look in Jefferson Park, Oriole Park, Mayfair, Norwood Park, or the very southern edge of Park Ridge. Many of these areas also have Metra stations to get you downtown a little quicker than the Blue Line would.

Yup, and I never remember your answer. Maybe we should start a Frequently asked Drover questions (or we could take the time to search your posts, but what fun is that)