Chicago Rents - Whoa (Berwyn, Oak Park: renters, condo, how much)

[SkylarkPhotoBooth]

Originally Posted by BRU67

Unfortunately, it's probably easier to rent an apartment in the hot East Garfield Park to a hipster than it would be in Berwyn. Berwyn has decent rents and great vintage apartment stock, but it's a different tenant base than the City, as you of course know.

I have a good friend who lost a lot of money after a realtor convinced her to buy a condo in "up and coming" Berwyn right before the 2008 crash. ("Near the city! Very near downtown Oak Park dining options! Fitsgerald's! Cool vintage Chicago-style apartment buildings!" I can kind of see how it made sense to her, though it's a little too far out from downtown for me.) She lived there for many years waiting for the value to rebound before finally giving up and selling for a loss a few years ago. Berwyn still seems like the kind of place that should have increasing property values, but apparently doesn't, at least not since the last bubble burst.

[frimpter928]

Part of my problem moving further out to places like Portage Park or Albany Park is I don't have a car. Nor do I want to buy one. But if I were to move out to those places I feel like I would pretty much need one (less so in Albany Park), which negates the rent costs then. Because add car payments, insurance and gas, I might as well use those $200 (it would be more) to live somewhere more convenient to me and walkable.

If I had a car that was paid off, it would be a different story. I'd be willing to further out north and northwest.

My challenges with places like Pilsen are that while I love them and do visit it, it's not my usual hang out. I mostly hang out in and around Logan Square. My friends and family all live in Logan Square, Bucktown, Avondale, Irving park, Lakeview, and that's where I go out to eat, drink and socialize. If I went down to Pilsen I would be a lot more isolated than I would like.

[SkylarkPhotoBooth]

Originally Posted by frimpter928

If I had a car that was paid off, it would be a different story. I'd be willing to further out north and northwest.

The thing about "paid off cars" is they still aren't free, though. Paid off just means you're slowly losing the equity you put in the car as it depreciates, and repairs and maintenance are getting costlier as it gets older. And you still have to park it somewhere, and get a city sticker and Illinois plate and insurance, and because you live in Chicago you WILL get parking tickets.

Even without a car, why can't you live a little further out along the Blue Line or Red Line?

Originally Posted by frimpter928

My challenges with places like Pilsen are that while I love them and do visit it, it's not my usual hang out. I mostly hang out in and around Logan Square. My friends and family all live in Logan Square, Bucktown, Avondale, Irving park, Lakeview, and that's where I go out to eat, drink and socialize. If I went down to Pilsen I would be a lot more isolated than I would like.

I hear you. In fact, I'll be looking at a similar situation because I'll probably need to eventually leave Pilsen, which is MY hangout. (It is headed down the same path as Logan Square, just a few years back on the curve.) I think that's just part of being a renter in "cool" up-and-coming neighborhoods in a city, though. They gentrify. If you want to stay in one place you either need to pick a really unpopular place that will never gentrify, or buy in a place before it gentrifies, or just be willing and able to pay ever-increasing rents. Otherwise, you just keep moving to the next up-and-coming neighborhood every several years and find a way to make it your new home.

Of course, even if you stay in these types of neighborhoods, they don't stay with you. I would venture to guess that some of your favorite hangouts (and friends, for that matter) from your earlier days in Logan Square are gone, and even more will be in the coming years. So even if you stay in the same neighborhood, is it really the same neighborhood?

I'm not sure what to make of the fact that you list Lakeview along with all of those NW Side neighborhoods. That seems like a totally different part of town to me (geographically somewhat, but especially culturally), while the others are kind of in a cluster. (Not that you can't have friends and hangouts in multiple parts of town, but if you're flexible enough to go between Irving Park and Lakeview I'd think you'd be flexible enough to fit in elsewhere, too.)

Good luck! I'll be interested to hear what you end up doing.

[Vlajos]

I always had roommates and old/dated apartments. Seems like everyone wants luxury and living alone now.

[frimpter928]

Originally Posted by SkylarkPhotoBooth

The thing about "paid off cars" is they still aren't free, though. Paid off just means you're slowly losing the equity you put in the car as it depreciates, and repairs and maintenance are getting costlier as it gets older. And you still have to park it somewhere, and get a city sticker and Illinois plate and insurance, and because you live in Chicago you WILL get parking tickets.

Even without a car, why can't you live a little further out along the Blue Line or Red Line?



I hear you. In fact, I'll be looking at a similar situation because I'll probably need to eventually leave Pilsen, which is MY hangout. (It is headed down the same path as Logan Square, just a few years back on the curve.) I think that's just part of being a renter in "cool" up-and-coming neighborhoods in a city, though. They gentrify. If you want to stay in one place you either need to pick a really unpopular place that will never gentrify, or buy in a place before it gentrifies, or just be willing and able to pay ever-increasing rents. Otherwise, you just keep moving to the next up-and-coming neighborhood every several years and find a way to make it your new home.

Of course, even if you stay in these types of neighborhoods, they don't stay with you. I would venture to guess that some of your favorite hangouts (and friends, for that matter) from your earlier days in Logan Square are gone, and even more will be in the coming years. So even if you stay in the same neighborhood, is it really the same neighborhood?

I'm not sure what to make of the fact that you list Lakeview along with all of those NW Side neighborhoods. That seems like a totally different part of town to me (geographically somewhat, but especially culturally), while the others are kind of in a cluster. (Not that you can't have friends and hangouts in multiple parts of town, but if you're flexible enough to go between Irving Park and Lakeview I'd think you'd be flexible enough to fit in elsewhere, too.)

Good luck! I'll be interested to hear what you end up doing.

I hear you on the car part. It's just I don't really need a car, so for me it's would be adding a major additional expense to save money on rent, which I think in the end would be counterproductive.

[frimpter928]

Originally Posted by Vlajos

I always had roommates and old/dated apartments. Seems like everyone wants luxury and living alone now.

I don't need luxury living, I just thought I would find more updated apartments in that price range.

But yes, I want to live alone. I am 32 and pretty much all my friends are married, so I don't have many people to choose from to live with, and I have ZERO interest living with a stranger.

[SkylarkPhotoBooth]

Originally Posted by Vlajos

I always had roommates and old/dated apartments. Seems like everyone wants luxury and living alone now.

I've never had "luxury living" by any definition (of the first world, anyway), and I tend to find it rather silly (as do you I imagine) when people insist on things like granite or marble countertops and stainless steel-appearing appliances (which haven't been in style that long and are likely to be out of style soon in favor of something else) as some sort of hallmark of modern luxury living.

The living alone thing, though? As a grown man with multiple degrees, a good career, and the kind of salary that until fairly recently was expected to support a family of 4 in America, I don't feel like I'm being unreasonable by choosing to live alone. Roommates are fine in college, grad/professional school, and even early career, but at a certain point it's nice to have your own space and shouldn't really be viewed as a "luxury" thing in a developed nation.

I don't know how old you are, Vlajos, but your profile says you have an MBA and are married with three kids, so I'm guessing at least 30's if not 40's or above. Would you really live with a roommate (no, your spouse and children don't count) at this point? Do you consider yourself to be living in some sort of unthinkable luxury by not doing so?

[SkylarkPhotoBooth]

Originally Posted by frimpter928

I hear you on the car part. It's just I don't really need a car, so for me it's would be adding a major additional expense to save money on rent, which I think in the end would be counterproductive.

I agree. I guess what I was trying to do is to make sure you are considering ALL the costs of owning a car (which go far beyond just the payment on a car you are still in the process of purchasing) when considering how much you are willing to pay in order to avoid owning one. If anything, what I was saying is that even with a paid off car there is something to be said for living near an el stop, even if it's not in your familiar hangout zone.

I owned a car from age 16 until age 40, and have found not owning one for the past couple of years to be quite liberating, to say the least. Doing the math I've realized I can actually take taxis and Ubers (especially Ubers!) fairly often for less than the price of owning and maintaining a car when you include insurance, parking, tickets. etc. And of course, if I use CTA I can save even more. It's definitely worth factoring those savings into what you are willing to pay for an apartment.

Oh, and if you're a drinker, I forgot to mention the whole DUI thing. That alone is enough to avoid driving when you can, IMO.

[dtcbnd03]

Originally Posted by frimpter928

I hear you on the car part. It's just I don't really need a car, so for me it's would be adding a major additional expense to save money on rent, which I think in the end would be counterproductive.

You are 100% correct. People often say you're throwing away money on rent (which I disagree with) but you are certainly throwing money away on a car. I only own a car so I can visit my rental properties so it's more of a business necessity...otherwise it sits there. I would get rid of it tomorrow if I could. Spend more money on a walkable area...get a divvy membership for $100...and you're set!

[usamathman]

Originally Posted by frimpter928

I have been in my current apartment for quite some time now. I pay $800 for a studio in Logan Square. I am well aware it's pennies, hence why I was there for such a long time. While I make a very healthy salary of $95k, I have been living in that studio mostly due to save to buy a house.

I have to move in June, so I am looking to lease an apartment starting in June (not quite ready to buy). Needless to say, I am surprised how much rent has gone up!

I am looking for one-bedrooms pretty much everywhere on the northside, from Avondale, to Lincoln Square to Roger's Park to Lakeview. I am shocked that you cannot find a one-bedroom for under $1300 per month. Then the very few that you do (and they are rare) are pieces of crap for $1200. I remember a few years ago you could still get a pretty decent one-bedroom in a nice neighborhood for $1,000-$1,100. Even these units are the $1,300 are meh.

Anyway, for me it's me fine, because I can afford the $1400 rent. But I didn't realize how much rents have gone up! It made me think, if you make something like $50k, Chicago is starting to become more challenging to live in, you may have to live with roommates or really have very limited options.

What website are you looking on? I see a ton on places ~$1000 on craigslist. BJB properties has apartments in the $900 range in Rogers park and a few other areas closer to the city.

Chicago is hands down a great bargain compared to other major cities.