shoemaker lofts (Chicago, Cicero, Marshall: rent, condo, mortgage)

[egotist0717]

What do you think of the building/neighborhood? I'm going to be staying for at least 7-10 years so I'll be there for a while.

I'm thinking about buying a 2 bedroom here (ugh, 20k for a parking spot) and renting out a room to a friend. My plan is to suffer with the mortgage and put the rent money from my friend into a money market to make some money for later on.

How thin would you spread your finances to buy a place. I'm only going to have about 100/wk (not including rent money) for food and going out after rent, taxes, and association fees.

[aragx6]

100 a week: I guess it depends what your comfort level is. It would be hard for me to spend so little a week, but that's just me. You can do it, but you'll rarely leave your condo. Maybe you could put half or 3/4 of your friend's rent away instead of all? But either way, more power to you for being so wise... If only I could be. I think i like sushi, shoes and crate and barrel too much to ever be as thrifty as I ought be.

[egotist0717]

I'm going to miss shoes and sushi too

[Avengerfire]

It is mostly Polish and Hispanic around there. Not the worst or best crime-wise. You will have to go a few miles to get to a large grocery or department store. The area is not that bad. The Belmont,Cicero,and Milwaukee buses run later and longer than most buses in Chicago and the Blue Line is a mile or so east of there.As long as you do not smoke or drink too much, 100 a week should be fine.

[cultural byproduct]

Originally Posted by Avengerfire

Not the worst or best crime-wise. You will have to go a few miles to get to a large grocery or department store...

Avenger is on the right wavelength, however you DO NOT have to go "a few" miles for a large grocery or department store. I have found most amenities within a mile or two of the Belmont/Pulaski intersection.

I have lived at the Belmont Lofts (just west of the Shoemaker Lofts) since Feb 2007.

As far as groceries and shopping are concerned: I go Six Corners for the Jewel (and Blockbuster and Marshall's that are in the same plaza). There is a Sears right there (which I don't really shop at, but hey - its there). The HIP is not too far away and its a fairly decent mall (although crowded on weekends).

Public transportation is very good -- within a mile each way you have 2 blue line stops, 2 different metra lines and an abundance of buses. (as Avenger noted). Its easy to get almost anywhere. An exampl, at off-peak traffic times, it takes me 15 minutes to get to Wicker Park on the Milwaukee bus.

It is easy as hell to be thrify in this area. There are plenty of great restaurants that are very affordable --- because they are not in some trendy part of town. You also have two well-stocked Aldis (cheap!!). Not to mention two CVS', Walgreens, dollar stores, etc. There are also an abundance of decent, over-looked bars that are obviously off the beaten path and cheap as hell (and I'm not talking about the Belford). I think you can do the $100/wk if you are good at managing your money (It would be hard for me). And Irving Park Rd has everything under the sun.

I have come to really appreciate the uniqueness of this area. These are real families, real Chicagoans. Not some yuppies who flock to the trendiest neighborhood just to flaunt their cash. After living in Bucktown for some time, this area is a breath of fresh air. (But of course, with these lofts come the yuppies). I will say I do hate being so far west.

Just watch out for all the cars. Its super congested on Belmont most of the week and the drivers are madmen.

[Avengerfire]

Originally Posted by cultural byproduct

Avenger is on the right wavelength, however you DO NOT have to go "a few" miles for a large grocery or department store. I have found most amenities within a mile or two of the Belmont/Pulaski intersection.

I have lived at the Belmont Lofts (just west of the Shoemaker Lofts) since Feb 2007.

As far as groceries and shopping are concerned: I go Six Corners for the Jewel (and Blockbuster and Marshall's that are in the same plaza). There is a Sears right there (which I don't really shop at, but hey - its there). The HIP is not too far away and its a fairly decent mall (although crowded on weekends).

Public transportation is very good -- within a mile each way you have 2 blue line stops, 2 different metra lines and an abundance of buses. (as Avenger noted). Its easy to get almost anywhere. An exampl, at off-peak traffic times, it takes me 15 minutes to get to Wicker Park on the Milwaukee bus.

It is easy as hell to be thrify in this area. There are plenty of great restaurants that are very affordable --- because they are not in some trendy part of town. You also have two well-stocked Aldis (cheap!!). Not to mention two CVS', Walgreens, dollar stores, etc. There are also an abundance of decent, over-looked bars that are obviously off the beaten path and cheap as hell (and I'm not talking about the Belford). I think you can do the $100/wk if you are good at managing your money (It would be hard for me). And Irving Park Rd has everything under the sun.

I have come to really appreciate the uniqueness of this area. These are real families, real Chicagoans. Not some yuppies who flock to the trendiest neighborhood just to flaunt their cash. After living in Bucktown for some time, this area is a breath of fresh air. (But of course, with these lofts come the yuppies). I will say I do hate being so far west.

Just watch out for all the cars. Its super congested on Belmont most of the week and the drivers are madmen.

I used the wrong term. I should have said a mile or two. Ok.