Is Chicago Right for me? (Cicero, Addison: real estate, apartments, rental)

[andyj13]

I am considering a move to Chicago when my current lease ends in December. I would make the move in late November or eary December. I currently work as a healthcare finance consultant. I travel quite a bit but also work from home a few weeks out of the month as well. I currently live in Farmington Hills, Michigan which is 20 min from downtown Detroit. I have been here since last Dec. I was born and raised in Ohio. I am looking to move because I have always wanted to live in a big city.


A few reasons why I am interested in Chicago, is because of the the entertainment seem for a someone like myself (Mid 20s. young professional) and the opportunity for someone with an MBA in Healthcare Administration. I do not like the travel my job involves and would look for a job in the area.


My questions are what areas should I look into for apartments?

What are the average costs for a 1-2 bedroom apartments in a safe walkable area?

Any tips on looking for healthcare administration jobs?

My salary is in the upper $50s- low $60s range.

Any other tips would be great.

[Vlajos]

Sounds like you will like it here.

Lake View
Lincoln Park
Old Town
Ukrainian Village
Wicker Park
Bucktown

would all be good neighborhoods to start looking at. Rent can be all over the place, from $1K on up probably.

I don't know much about the health care industry, but Huron Consulting just announced they are adding many jobs in healthcare consulting in Chicago.

Also, BCBS has a huge presence here.

[ClassicStyle]

I would recommend any of these hospitals in terms of quality of care.

Rush University Hospital
University of Illinois Hospital
John Stroger County Hospital
All in the same area called the Medical District centralized at Harrison Street and Ashland

University of Chicago Hospital
Cancer Centers of America
Both In Hyde Park of 52nd Street (I think it's 52nd)

Loyola University Hospital and Burn Center
In Maywood of 290 Expressway

Northwestern University Hospital
Huge Presence downtown east of Michigan Avenue South of Water Tower
(This is where all the big wigs go.)

St Joseph's Hospital/A Resurrection
Lake Shore Drive at Diversity

Resurrection Hospital (Big Res)
Out by Golf Road north of the city

Our Lady of the Resurrection Hospital (Little Res)
5400 Addison at about Cicero

There are quite a few more but not as big, not as well known.
(My opinion, not as nice.)
I love the University Hospitals Myself! (As a patient!)

Then in terms of Insurance Companies you have:

Blue Cross Blue Shield
Aetna
CNA INSURANCE (Do they do health?)
They have got to have many more here.

Chicago Benefits Office-
Off Roosevelt Road by the Fire Administration Bldg and Downtown too.
They have a management company that does Reviews

This city is a health care administrators dream!! A Mecca !!

Then you have Walgreens Headquarted in the North Suburbs

I know Concentra also has a big Work Comp Presence in the city.

Good Luck. I hope you enjoy Chicago.


T

[Davis Street]

Chicago has a very poor economy, especially for MBAs. The unemployment rate is significantly worse in Illinois than in Michigan.

If you want to move to a big city, why not choose one with a good economy? NYC, DC, Houston, Dallas, Boston, and many others are both big cities with good economies for MBAs. Many of these cities, such as NYC, Houston and Boston, have a bigger and more prestigous medical presence than in Chicago.

But if you want to move to Chicago, get a job before you move. I can't stress this enough!

[Vlajos]

Metro Chicago is gaining jobs and has an unemployment rate of 8.6%

Metro Detroit is losing jobs and has an unemployment rate of 9.8%

[DoneWithDallas]

I work for a health insurance TPA and Blue Cross practically owns Chicago when it comes to the industry. I'd try there for sure. There are also many other large insurance TPA's, Re-insurance carriers, consultants, brokers, and such located in Chicago as well.

[andyj13]

Originally Posted by Davis Street

Chicago has a very poor economy, especially for MBAs. The unemployment rate is significantly worse in Illinois than in Michigan.

If you want to move to a big city, why not choose one with a good economy? NYC, DC, Houston, Dallas, Boston, and many others are both big cities with good economies for MBAs. Many of these cities, such as NYC, Houston and Boston, have a bigger and more prestigous medical presence than in Chicago.

But if you want to move to Chicago, get a job before you move. I can't stress this enough!

I understand what you are saying, but you do realize I would be coming with a job. I work as a healthcare finance consultant. I travel so I can live anywhere.

[Plzeň]

Originally Posted by andyj13

I understand what you are saying, but you do realize I would be coming with a job. I work as a healthcare finance consultant. I travel so I can live anywhere.

Davis Street makes it a point to be as anti-Chicago as possible in every post, so take him with a grain of salt. You know your industry better than he does, and it sounds like you have a plan to make it work.

[edsg25]

Originally Posted by Davis Street

Chicago has a very poor economy, especially for MBAs. The unemployment rate is significantly worse in Illinois than in Michigan.

If you want to move to a big city, why not choose one with a good economy? NYC, DC, Houston, Dallas, Boston, and many others are both big cities with good economies for MBAs. Many of these cities, such as NYC, Houston and Boston, have a bigger and more prestigous medical presence than in Chicago.

But if you want to move to Chicago, get a job before you move. I can't stress this enough!

of course Davis Street is correct. Everybody is out of work in Chicago. except for the guy who runs the soup kitchen; but even he isn't paid and has to do it for free. besides, one must take everything Davis Street says seriously because, after all, he is Davis Street, and he is an expert on.......welll........EVERYTHING!

[thinklongterm]

@andyj13 I'm in a similar biotech-facing consulting career. At least for the biotech companies I've been at since 2008, we've been growing at least 10% year over year. The Chicago economy is treating this field just fine.

I don't quite understand—will you be continuing your current job, finding a new job at a local hospital, or joining one of the healthcare specific consultancies here in downtown Chicago? Your income is fine to rent or buy in a good area of town, although I would imagine you can attain another $10-30k if you jump ship.

Re: neighborhoods. The suggested Lake View, Lincoln Park, Old Town, Ukrainian Village, Wicker Park, and Bucktown are all very nice, but if you're working for a consultancy skip the commute and packed trains. Just live downtown. I chose to live in Lakeview originally because I could have a fantastic pad for $400 to $1,000 per month less, but I'm now buying in a neighborhood walkable to downtown because it's easier to cab on the weekends to wherever than sit twice daily for 40 minutes on a bus squeezed between Big Gulp and OMG iPhone Gossip.

If downtown appeals and you want fancy bars and art within a short stumble, River North/Gold Coast is a good (but slightly expensive) area. I am buying in Printer's Row, which 15 minutes walking from any of the consultancies downtown, because of its centrality, older more spacious architecture, and more reasonable prices. Rent of course depends upon size. I'd expect more than $1,600/mo for a small one bed in River North and the same for something larger in Printer's Row.

Tips: You may have an advantage in terms of rental prices by coming in the dead of winter, which is a tough season for landlords. While it's tempting if you're testing the waters, I wouldn't get a six month lease because it's such a good cycle to be on. Craigslist is stuffed with ads from slimey rental agents that don't respect your time. Rent direct from owner if you can, you save 10% (the fee agents charge to annoy all parties). Domu and Urbanlux are slightly easier to navigate than Craigslist, but a real estate agent that specializes in the area or the laundry message boards tend to be better to deal with in my experience.