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Chicago fishes - have a 2 bed 2 bath available for rent immediately in Lakeview (near Montrose beach). Full amenity building with spectacular views of lake from all rooms, and easy access to public transit. Please DM if interested. Thank you!
https://www.zillow.com/homedetails/4250-N-Marine-Dr-APT-822-Chicago-IL-60613/3703720_zpid/
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Over the past 3 months we have done ample research to shortlist we would like to be in wicker / buck town / or any where between armitage to Irving park, east of 90/Elston rd.
We have visited multiple times and Airbnb-ed to get more feel of the city and have really landed on the decision that we are ready for the move. I understand that I pay not get paid as much in Chicago but what to assess what’s ‘reasonable’ pay cut.
It’s very tough to calculate imo because it depends on your savings rate. I would say you could take a 30% haircut and not notice
Id only add that at your income/rent ratio, you need to take it with a grain of salt. You probably won’t spend less than $2k on rent in those neighborhoods and you might well spend closer to $3k. However the place will definitely be bigger than Hoboken lol.
I moved from NY to Chicago several years ago / was dating a PhD in a similar campus situation as you (opposite though - primarily Evanston and secondarily downtown) / maneuvered a job change as part of the move. Feel free to DM me.
Don’t underestimate the commuting demands for both of you would be my only suggestion (Northwestern has free buses between their campuses and pickups on certain routes for instance, which could reduce need for multiple cars/ generally make dealing with lakeshore traffic more bearable). If you’re out West closer to the highway you’ll both be dependent on either driving potentially or complicated transferring between buses / blue line, which is not nearly as reliable as you’re likely used to in Hoboken / NY.
Pay cut also likely depends on what industry you’re in (eg finance related might be a tougher salary to maintain vs management consulting or big law etc. just given the makeup of firms in Chicago vs NY).
Do research of job postings you’d be competitive for and cross check pay estimates on Glassdoor etc. then check post tax income from a site like smartmoney. From NYC to Chicago the tax drop was significant (a months rent roughly).
Generally speaking - I tell people it costs about 60% to live in Chicago vs Manhattan (so maybe 75-80% vs Hoboken), as that’s generally been my experience (can get a lot more space / newer homes or apartments for your money, food etc. cheaper for the most part, childcare eventually, parking if you choose to drive).
Depends on lifestyle. Which neighbor you live in will make a big difference on cost (rent, availability of cheap groceries, cost of restaurants, parking, number of Ubers). You’ve picked some of the priciest areas of the city. Unfortunately Chicago salaries are based on COL of the suburbs & cheaper areas. Also keep in mind Feinburg isn’t a great area for public transportation. I lived in Lincoln Park/Lakeview during grad school and drastically underestimated how much I would spend on taxis to get to campus late/early and during the winter. Red line isn’t great at the moment so I would do your diligence based on when they will be traveling.
I’ve been taking the EL between LP/Lakeview and downtown for 20 years. In my 20s we would take the red line at night to the bars. Red has never been the greatest of the lines but has progressively become worse post CoVid. Midday this summer I’ve personally witnessed on the train individuals going the bathroom, individuals with their pants down, feces on the train, physical fights, open drug use, and aggressive harassment of other passengers. Last straw for me was downtown this summer when I witnessed a guy grab a gun from his waistband while fighting with another woman. I still take the El but walk farther to brown line. If someone is going to depend on the redline they should ride it at their expected times to make sure they feel comfortable. A quick google of “stabbing” or “shooting” and redline will give an overview of recent activity.
I’m ex big tech with what was a comparable salary. Chicago is doable on one income at $250K +. That said, the job market here is horrible, and the cost of living is even higher than it was since a slew of taxes were imposed on July 1. Don’t commit to moving here without something lined up first, and aim for the same salary. Good luck!
PM1, we hereby revoke your gender card and declare you an AH.
All you said was BS. You clearly don't live here.
If they’re a PhD student, you should probably prioritize living closer to the institution as they will be spending 80-100 hours on site and will be commuting back and forth often. I lived in Chicago and commuted to Evanston for grad school and it sucked. I had a car too so it wasn’t even public transportation.
I’m not familiar with commuting from bucktown to feinberg campus but I’d look into potentially one of the east side neighborhoods with better bus access than relying on the red line/L. You could probably go anywhere from Lakeview east up to edgewater and be a little closer if you do have to go to Evanston!
What do you do / industry?
I used to live in jersey city paying over 2k for a 1 bedroom.. I now live in wicker in a walk up that’s a 2 floor 3bed 3bath and rent is $3425 so aka you should be fine as long as you aren’t looking to move to west loop, Gold Coast, or LP wicker/west town/bucktown/logan square all young and fun neighborhoods you’re gonna be saving regardless