Around how much do you think it'd cost to live in Chicago for a year?

[Go_Blue88]

I'm not sure what forum to post this in, but this one seems as good as any.

I graduate in a month and plan on moving to Chicago. Basically, I'm trying to set a plan in my mind of how much money to have saved up so that I can travel around for a while without any concern.

I know this depends on where I live and such...but I don't even know what the average apartment costs. If I make sure that I have 25,000 saved up would this be sufficent? Or should I travel less and save more than that?

I have a job at the Chicago Board of Trade as of right now...but I won't be able to make any money from it for around 6 months; worst case scenario I won't even make anything. So obviously it's important that I have a good plan.

Any thoughts appreciated. Thanks.

Edit-- Also I'd appreciate recommendations on fun/affordable areas to live.

[cbloom]

25k with no income would be tight. But in a pinch you can always get some kind of job. Go for it.

ps. I don't know Chicago that well but you need to live somewhere fun and don't worry too much about affordable. Definitely DO NOT live in the f**king styx of Chicago like so many people do, it's ridiculously lame out there.

[tsearcher]

I assume you actually mean the city of Chicago. Unfortunately, fun and affordable don't usually go together. But it all depends on how brave you are. You can live on the edge of the hip neighborhoods and have a blast. You just need to be a little open minded.

You can check Craig's List and the Reader for an idea of rents. Do not get a car. You don't need one. It's expensive and a pain in the ass. Public transportation is pretty good. I would avoid the Red line or the Brown line for the time being though. 25K is definitely doable. There are a lot of free and low cost things to do through out the year.

Make friends and go to parties. Then you won't have to spend so much at the bars. When you do go out to the clubs, do most of your drinking at home first. Then you can save money and just have a couple of drinks when you go out.

You can probably get a decent place in the Old Irving neighborhood. It has access to the Blue Line and the Metra train. It's a nice neighborhood with relatively cheap rent. It's not the hippest place, but you'll be either a quick train ride or bus ride to any place you want to go. I'll think of some more things tommorrow.

[ChipStorm]

Been a long time since I lived in Chicago, but I assume Lincoln Park / Near North is still the desirable close-in neighborhood? Don't know how expensive it is now, though.

[Big TR]

When going to Depaul in the late 90's I survived on a $15k part-time job and ~$5k annually in student loan money. I lived in Lincoln Park and Lakeview during this time to be reasonably close to the god-awful liberal arts classes I had to take. The city has changed since then, and there are more livable neighborhoods than there were at that time.

$25k is cutting it close if you plan to travel. If you get a part time job once in a while, you will be fine.

[MrMon]

When my brother lived in Chicago 10 years ago, Wicker Park was the answer. It's still a pretty nice area with lots of young people, although it's undoubtedly gotten more expensive, though you can rent some pretty nice places for less than trendier locations in Chicago.

[guids]

My cousin lives in lincoln park right near grand central, really nice area, his rent for a nice loft-type place is 1k/mo for a 2 bedroom, so its not that bad. personally, I dont think chicago is that much more expensive than most towns

[retep]

Depends on how close to the Loop you want to live. Lincoln Park is way to overpriced now. A studio can run anywhere from 650-1100 depending on the area. The more south or the more west you are willing to go, prices will get cheaper.

Here is what you should do:

1.here
or any other zipcode listing website.
2. Go to apartments.com and play around with the various zipcodes and get yourself a pricing guide.

Food for thought if you are planning on bringing a car with you, be prepared to pay anywhere from 200-400/month for parking alone.

[KSPD]

If you want to live in a safe area of Chicago you likely won't find anything under $1k a month. Drop under that and you're starting to settle into sketchy neighborhoods.

$25k is doable if you don't do anything. Don't get cable. Don't rent movies. Etc. If you want perks like soda and internet you'll want more money or some income.

[kleinstadt1]

CBOT does not allow anyone with a conscience or a soul to work there (even the runners must sell their souls). Be sure to sell your soul through a broker on the commodities exchange (part of CME) instead of making this rookie mistake:



Should net you about $8K. Use extra savings and live in Lakeview.

Seriously, if you plan on taking public transportation to the loop everyday, stay off the blue line. It's horribly dilapidated and slow, and can take an hour or more. It even got an article in the New York Times. Buses are fine.

Have fun at the Merc!