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Old 06-09-2008, 02:50 PM
 
2 posts, read 4,904 times
Reputation: 10

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As my username explains, I will be a newbie to the area. In august i will begin my 6 month work assignment. the company I work for is located on Madison, very close to the presidential towers.

- I would like to spend around $1500 or less if possible on 1 bdrm or studio (will spend more if its worth it)

- Convenience is very important. I will not have a car, and I would rather not walk or commute via public trans. more then 15min to work. I will probably work late, so after a long day of work, convenience will be key =)

Having done a bit of research on the forums, I understand that the pres. towers are very "hotel" like and the area is "dead" in the weekends (not good b/c I am in my early 20s and do like to enjoy the weekend nightlife). however in terms of convenience, it is close to unbeatable.

Also, b/c I will be there less then 10 months, there is a $500 premium on the rent so an $1100 studio will be $1600 for me.

As of now, these are my options:
a. pay 1600 / mo for a studio at PT
b. take a 10 month lease for a studio at PT and hope that I can find someone to sublease it for the last 4 months - starting February (in this case I will only need someone to sublet for 1 or 2 months at a minimum to break even, but I run the risk of not getting anyone at all. )
c. sacrifice convenience and live __________ .

Can any one please provide comments on my situation and / or help me fill in the blank for option 'c'??

tThanks in advance...btw I'm very excited about moving to Chicago, even though I will be leaving the NYC area behind. It will be a nice change.
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Old 06-09-2008, 03:14 PM
 
28,453 posts, read 85,392,786 times
Reputation: 18729
There are plenty of options for month-to-month rentals that should be less than $1600 -- Presidental Towers can get rent like that out of corporations that pay through the nose, but there is no reason for a regular Joe to cough up that kind of dough. You could probably rent some hip place for HALF that in one of the popular areas to the northwest and have an easy commute downtown -- Madison is DEAD CENTER in the Loop and walkable for either commuter rail, CTA trains or buses.
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Old 06-09-2008, 03:50 PM
 
2 posts, read 4,904 times
Reputation: 10
interesting...transportation doesn't seem too bad.

would you know the names of any apartment complexes in surrounding areas that i could look into? (i chose apartment complexes because i like the idea of having an in-house gym as well as other amenities..)
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Old 06-10-2008, 11:49 PM
 
37 posts, read 69,444 times
Reputation: 11
There are so many new apartments for rent in that area. PT is way overrated. You don't have to worry about it being super close 'cause you can take taxi's. They're not as expensive as NY

Check out forrent.com and craigslist
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Old 06-11-2008, 11:59 AM
 
28,453 posts, read 85,392,786 times
Reputation: 18729
Taxi shmaxi -- if firm is "on Madison close to PT" he ought to be able to take a train to Union OR Ogilivie Metra / Chicago - Ogilvie Transportation Center Information from anywhere just about anywhere, or the CTA.
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Old 06-11-2008, 11:42 PM
 
107 posts, read 142,555 times
Reputation: 19
medical district has apartments that rent on monthly basis, its next to UIC, 5 minute drive to loop.
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Old 06-12-2008, 12:39 PM
 
9 posts, read 31,867 times
Reputation: 15
Careful in Medical District though. I just graduated from UIC and there are tons of muggings and sexual assaults in the areas between Halsted and Western/Harrison and Roosevelt. The Maxwell Street corridor or further south in Pilsen might be better.
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