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It looks like my DH may be taking a job at Loyola Hospital, and we'll be making a move to Chicago within 2 months. We've never visited the area, so I've been reading the posts here (both city and 'burbs) until I'm red-eyed and confused!
Would you please point us in the right direction for now? I will have more specific questions, but I have to start somewhere...
We initially wanted to live near or on the Lake - however, that seems to be cost-prohibitive (however, if after reading our criteria and wish list, comment on that if you have any further info.). So, now, we're focusing on western suburbs. Most likely, we would limit our stay to only 2-3 years, with our eye on retiring shortly afterwards in Texas.
Hubby just retired from 30 years in the military; he is a medical professional, and will be working at Loyola Hospital. I won't be working in my field (medical prof.), but will stay at home, concentrating on honing my avocation of art. We don't need to worry about the school districts, having college-aged children. Having said that, our DD may be living with us to pursue her Masters in education admin and/or teaching.
We're homebodies, desire friends and neighbors of similar educational backgrounds as well as other fields. The ages of potential neighbors don't really matter - could be the gamut from families to seniors/retirees and military. We just don't want extreme partying college kids or post-grads. We would like to spend weekends exploring the museums and Chicago's cultural offerings, as well as fishing and learning how to sail.
Health permitting, I'd like to eventually go out and find groups for art and painting, playing bridge, for cultural excursions, church groups, etc.
So! Here's our wish list and questions - we are extremely flexible with location, depending on our criteria (this could include the city, just outside of the city, or much further afield):
1. Apartment or rental home vs. House purchase - anywhere from 1400 sq.ft to 3000+ sq. ft. (Could put furniture in storage). At least 2 bedrooms, with area for DH's study at a minimum.
2. Rent vs. purchase - budget is extremely flexible. Depending on circumstances, we could manage up to 3K or 3.5K/month (even slightly more), although we prefer to be more budget-minded in the range of 2.5K or lower.
***Please help us with this - we aren't familiar with all of the tax burdens on owning a home there. Could you assist us with info on different RE and other tax implications of different neighborhoods and counties? (Links?)
-Considering a rent or mortgage of up to 2- 3.5K/month, would it be better to invest this 60+K over 2 ( or 3) years into a house purchase vs. paying it into a rental? Tax deductions would be helpful with a mortgage...but I as I said, I don't know all of the RE taxes (and other tax burdens of various areas), nor the "tipping point" of the advantage of a certain-priced house vs. just renting.
3. House- IF we purchased a house, it's imperative that it's in a safe area, with great resale potential. (I always buy with the end goal of resale in mind). ** Not knowing what price range or area is the most "resellable" there, I wouldn't put a limit on it right now. However, we were thinking of the 250K to 550K price range. As such, to widen the pool of potential buyers, the school district would have to come into play, as well as reasonable RE taxes. **If we went the home-purchase route, we would prefer to buy a short sale , foreclosure, or some type of "great deal". The ultimate goal would be to be able to sell the house in 2-3 years and break even, or not suffer more than a 50K loss (net).
4. We would love a "quaint" area, including a small city-like neighborhood or small town feel/community. Local library, coffee shops, mom and pop shops, a community center, park, etc. would all be plusses.
5. Other amenities - if an apartment, we'd hope for an on-site gym, possibly an indoor pool. For a house in a neighborhood (buying or renting), proximity to a gym and indoor pool is a must. (Exercise for counteracting my disability).
5. DH doesn't mind an hour's commute or even slightly more...especially if it was on the train. We have 2 cars - cars are a "must", as I am somewhat physically handicapped with an MS-type affliction; it limits my physical strength and stamina. We also like to do cross-state travel.
6. Good proximity to public transport - for spouse to go to work, DD to go to a university/college, and also to go into the city for weekend activities.
7. If at all possible, I'd like any house or apartment to have a nice view- we currently live in a small apartment on the East coast with a "lagoon-type" view leading out to the ocean. As I'm somewhat house-bound at times, this is very important to me. However, I do realize that this is probably not possible...yet, I'll throw it out there, anyway.
So, in addition to the above, I'd like to know a few more things:
What is the market in the entire region? Buyers vs. sellers market? Which specific neighborhood is best known for good resale value? And for a great standard of living and desirability?
***Note - I did see the 2010 videos on Clarendon Hills that was posted. Nice area, but the "great deal" of the 1.8 million dollar house was waaayyyy over our price point and comfort level!
There may be other variables I'm missing here- please feel free to add any further things we should be considering. Additionally, if you know of any specific apartment complexes anywhere that would work for us, please either post or DM. Ditto for house rentals and purchases (deals, short sales, etc.).
Finally, do you recommend a good buyer's (and rental) agent who knows about all criteria listed above? If so, kindly DM.
Thank you SO MUCH in advance...I appreciate any help with this, as I've become overwhelmed with all of the posts, and am more confused with every thread I read. If anyone can summarize this info, and at least point us in the right direction, I will be extremely grateful!!!
Hi...well, after hours of CD searches on neighborhoods, I'm more confused than ever. One post accurately pointed out that everyone will have an opinion, most likely based on where they live. True, but in the same post, they pointed out there's over 250 little neighborhoods in and around Chicago! How do I pare that down?
Then, I came across Chicago Magazine April 2014 - rating of the "best" neighborhoods; there was some overlap with opinions on CD, but in the end, it wasn't very helpful. My "good" list has now grown to over 15 places.
Let me rephrase my question, then - if you had to move anew to the 'burbs given my criteria in the original post, focusing mostly on a combo of resale value, great school districts, and price, along with a "nice" neighborhood feel, where would your top 3 choices be??? Price of a house under 500K?
Also, what are your thoughts of living on one of the lakes in the far NW 'burbs? Travel time to Loyola Univ. Hospital? Problems with traffic and snow?
Does anyone have any good links to help us in our search? Data for resale, viable, growing neighborhoods? School districts? Any other comprehensive resources?
I'd REALLY appreciate it!!! Looking forward to coming to Chicago!!!
There's no good public transit to Loyola Medical Center, so your husband will most likely be driving. Real estate taxes are extremely high here, so with your short time horizon I'd favor renting. With a one hour commuting radius, you have 100+ neighborhoods/suburbs to choose from. More specific would be helpful to narrow things down.
Perhaps you could name your "good list" and why you think they are good, that may be helpful in terms of helping you narrow things down.
Also, at 3.5k/month you probably can afford a 2 bedroom apartment in the city with a view of the lake and parking, although obviously your money will go further the more west you go.
FWIW, I live in Oak Park, which is about 2 miles from Loyola. Its very urban, perhaps too urban for your tastes, but lots of Loyola workers (including physicians) choose to live here. Good public transit access to Chicago for your daughter, and very artsy and somewhat crunchy granola. Probably not a good idea for you to buy a house here, but if interested in rentals, check out www.oakparkplaceapts.com. Its a <10 yr old 14 story new construction apartment complex with a parking deck, in-unit laundry, and in-building Trader Joes. A high-end health club with pool is across the street. The train station to downtown Chicago is 2 blocks away(25 minutes to Chicago by subway/el and 15 minutes by commuter train).
Also, Loyola Medical Center itself has a very nice health club (you probably get an employee discount as well).
Last edited by oakparkdude; 09-14-2014 at 09:03 AM..
Your timing could not have been better! Hubby and I just had a looonnnngggg discussion, and brought up many of the points that you raised.
For our purposes, we just would feel more comfortable renting now, since we obviously will be limiting our time in Chicago, and don't really have a feel for the area at all.
Due to my health, I also just don't survive well in the cold, either. Renting, therefore, wouldn't tie us to the area like a house purchase would.
I surmised that Oak Park probably has a great number of hospital personnel living there, which fills the "blocks" for the neighbor and proximity portions of our wish list.
At this point in our lives, we're looking forward to some freedoms that weren't afforded due to the military obligations. So that, along with the dedication needed to keep up a house, would continue to usurp our free time.
We want to enjoy our lives a bit now, and especially with all that Chicago has to offer!
Thank you so much for your point of view, time, and recommendations. I appreciate it so much! We will certainly get more info (eventually) from the department and personnel he will be working with, but I'm a "planner" and tend to research.
So, I wanted to get a jump on this, so I could at least picture or understand where these neighborhoods were, along with any other "gems" we could glean. (Such as, the comment you made about the artsy feel and granola...hahaha!)
I'll check out the link you sent...THANK YOU! If you, or anyone else has good recommendations for more nice apartment complexes in both Oak Park as well as surrounding, safe areas, for comparison, please share those as well.
Finally, DH wants to be able to golf, fish, and continue learning how to sail. Any suggestions on where? Good sailing clubs?
It's time for us adults to have the opportunity to PLAY!!!!!
living in Evanston, North show, and commuting to Oak park???
Hi!
Well, I checked out Oak Park Place - it's a beautiful apartment complex with a great area/walkability to services, shops, eateries, and some fun. However, the prices seemed to be rather high - and perhaps comparable to those with Lake views just north of Chicago!
Now, DH asks if there are any similar apartment complexes (safe areas) on or near the Lake (with views), from where he could commute? (drive or train). How long would this commute be? Traffic issues?
The waterview and proximity to water activities (as well as to the Navy base) may be things we'd like to consider over proximity to Loyola Univ. Hospital. Especially when we saw the prices of Oak Park Place! At this point, we could scale down, and squeeze into a 750 sq.ft apartment, to keep prices a bit under 3K/month. However, parking garage proximity and expense might be a problem.
Is the North Shore too expensive for us as far as apartments go? What about Evanston or slightly south? Near the top of Lake Shore Drive? Near Montrose Beach, Belmont Harbor, Lincoln Park, etc.? Not necessarily waterfront, but a view would be nice.
I think the north shore suburbs would be too far to commute to Loyola, well in excess of 1 hour by car. City neighborhoods like River North, Lincoln Park, and Lakeview are definitely worth looking into, but they will be pricey given that these are very desirable neighborhoods. You could look into the South Loop which has lots of new high-rise buildings, is close to Loyola, and a bit cheaper than the previously mentioned neighborhoods. I don't know the city neighborhoods as well as some others, so I'll let them fill you in on the details.
BTW, Oak Park Place is the newest, nicest apartment complex in Oak Park, so if you like the neighborhood, but want something cheaper, there are many other options. 100 Forest Place (100 Forest Place in Oak Park, IL | Home) is a few blocks from Oak Park Place, and has both high-rise units and townhouse units. Its a little bit older and a bit cheaper. Of course there are tons of pre-WW2 construction apartments, but then you'll have to deal with stairs, no central A/C, and questionable parking options.
Last edited by oakparkdude; 09-14-2014 at 07:07 PM..
Thank you, OakParkDude - yes, Forest Glen seems to be a bit more affordable. Certainly is an option - both apartment complexes are within nice walkable distance to so many stores and services. I was pleasantly surprised! The "walkability" function of these apartment-locator sites is quite helpful in showing the amenities nearby.
In looking around the neighborhoods around Oak Park, are there any that are safe, have similar "downtowns"(as Oak Park, or nicer) with good services that are to the north or north east? We are still thinking of how we can be just a bit closer to the Navy base, as we as to Chicago and to the Lake for weekend excursions.
Many of the neighborhoods discussed in the suburb forum seems to focus on Naperville, Hinsdale, La Grange, and Downers Grove. Any other suggestions?
Anyway, I'm slowly learning, and acquiring a better picture of the suburbs, bit by bit; your advice has proved to be quite helpful!
Thanks again for your assistance!
I assume you are talking about the Great Lakes Naval Base in North Chicago? If so, that would be a very long and frustrating drive to Loyola Hospital. And you definitely do not want to live in North Chicago - as you would not want to live in Maywood either. If you are not aware, North Chicago where the Naval Base is located is not the same as the north side of the city of Chicago. Night and day, and about 30 miles apart.
Are you looking for some place midway between North Chicago and Maywood? Something like Arlington Heights perhaps? Honestly, I think you are going to need to prioritize your requirements because I can't think of anywhere in the Chicago area that hits even most of what you are looking for.
If you want to be closer to Great Lakes, you could look at suburbs along I294, but your commute to Maywood gets significantly longer. Park Ridge has a nice downtown, much smaller than Oak Park, but it does have a movie theater, Trader Joes, and commuter rail service to Chicago. I know there is some midrise new construction confiding downtown Park Ridge, don't know about rentals.
Arlington Heights has a very nice downtown with lots of amenities and train service to Chicago. Don't know about commute times to Loyola though.
Elmhurst is close to Loyola and a straight shot up I294 to Great Lakes. On weekends it should be fast and uncongested.
LaGrange is very close to Loyola, much less urban than Oak Park (this can be considered a good or a bad thing), small but quaint downtown.
I live in Wheaton, which is a 25-30 min drive due west of Loyola Medical Center. About a year ago, I went through the same paring-down process you are currently undertaking -- and while we have obvious demographic differences, my core checklist was much the same as yours is now. As long as Great Lakes Naval Base access is not a must-have, Wheaton might be a good fit.
I found Wheaton to have one of the most charming, walkable downtown districts in the Western burbs. Walkable amenities include:
Wheaton is also one of the best golf suburbs in Chicagoland, with the #1-ranked private course and #2-ranked public course in the state according to Golf Digest. There are numerous forest preserves and parks that offer everything from fishing to cross country skiing. There is an equestrian center with stables and all things equine. There are formal gardens and museums, and Wheaton even has its own little zoo.
Wheaton College is just outside of the downtown district and is ranked #75 among all colleges and universities in the US by Forbes. The Evangelical liberal arts college has also been ranked #56 in the country by US News and World Report.
Numerous large employers have global or regional headquarters within a couple miles of Wheaton's border, which adds to the overall stability of the community. Companies include BP, Navistar, Alcatel-Lucent, Exelon, RR Donnelly, Patterson Medical, Catamaran, Calamos Investments, BMO Harris, Texas Instruments, ConAgra, Unilever and many more.
The biggest benefit Wheaton offers is the price difference versus other desirable Western suburbs -- you and your DH would get a lot of bang for your buck. If your interested in renting, check out the brand-new Wheaton 121. You should be able to get up to a 3-bedroom live/work townhome with $3500/mo, and there is an in-house gym and swimming pool. If you're interested in buying, there are numerous in-town single families, townhomes and condos within your price range.
Other suburbs to consider: Glen Ellyn, Naperville, La Grange, Hinsdale, Clarendon Hills, Elmhurst, Oak Park, River Forest, Western Springs, Downers Grove, Brookfield, Riverside, Arlington Heights and Park Ridge. Given your criteria and work location, I would seriously question any towns outside of the fifteen mentioned. The only one that gets you closer to Great Lakes is Park Ridge. However, I don't believe close proximity to the lake will mean you will be there more often. I have friends and coworkers all along the North Shore, some just a few blocks from the water -- and I have been to the lake as many times as they have this summer. If you have a sailboat, you'll have it docked somewhere either on Michigan or the Chain o Lakes and you'll drive to it and go sailing as often as you can... whether you live in Naperville or Winnetka.
I appreciate all the info you provided and I hope you continue to give updates on your search!
Last edited by holl1ngsworth; 09-15-2014 at 08:35 AM..
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Anyone have any advice or links?
