Possibly Moving to Chicago from STL City, MO (Evanston, Oak Park: sale, apartment)

[mrbonesSTL]

I have a fiance & daughter & in the future, I am considering moving to the city or as close to it as possible from St. Louis, MO (Central West End area). It may be a bit before moving, I need to finish school & I plan to go to law school so I don't know what my financial situation will be, but as a lawyer I hope it to be very lucrative. So, that being said, I am interested in the area's that are safer for a family (with a good school district) but also close enough to downtown so we can go to clubs & ect. I am looking to purchase a home (no condo/apartment). So what areas/counties should I avoid (generally, as I need to search for homes) &/or what zip codes? Thanks in advance.

[Drover]

A price range would be helpful.

A note on the "lucrative lawyer" business: unless you've got the chops to make it into a school like Northwestern or University of Chicago, you're very unlikely to have the chops to make a pile of money as a lawyer. A semi-comfortable living? Sure, especially if you have an SO contributing to the household income, which helps take the sting out of the student loan payments. Lots of people go into law school believing they'll be the exception. Very few are. Even UC and NWU law grads are struggling in this current market. Not trying to talk you out of law school, just trying to get you to reflect on your expectations a little.

[chet everett]

You intend to PURCHASE a home AND go to law school? And have a "very lucrative " career while focusing on being " close enough to downtown for clubs etc" and being a parent in "good school district"...

Lots of problems.

Chicago region has higher than average cost of living, with housing being among the most costly in the county. The better law schools ( and even the fair ones...) are among the most competitive and costly in the country. Not likely you will be able to purchase a home and being in law school and be a part and have time for clubs etc...

Zip codes? Hmm 90020, fantasy comes to mind.

I am not just bashing you. I have known more than a few law students that did have a spouse and kids, but man that was ROUGH. Even with money saved up things were very TIGHT, free time was close to non-existent. Even if they had family nearby it was not like school and parenting left piles of time enjoying nightlife. None of these folks even thought about home ownership, rent was hard to come by...

Btw some of these same friends who now are jr partners or sr associates at law firms tell me that unlike the high starting salaries that firms extended to talented young lawyers several years ago the firms have had massive cut backs. Law students that have even very impressive credentials, suggesting many hours beyond the classroom devoted to the law review or clinics are getting only "waiting list" offers. Experienced lawyers are getting cut and remain unemployed unless they have connections and/or settle for a non-career path "utility player" position that pays little more than a paralegal...

You have bigger things to consider.

[Jandur]

Originally Posted by chet everett

I am not just bashing you. I have known more than a few law students that did have a spouse and kids, but man that was ROUGH. Even with money saved up things were very TIGHT, free time was close to non-existent.

To build upon this, one of my best friends is married, has a newborn and is currently attending Northwestern Law. He pays $1500 a month for rent in a 1 bedroom near campus, and doesn't have time for a job, so he's living off student loans for all his living expenses. He'll probably graduate with somewhere around 150k in loans.

Now, I don't know your financial situation, or what kind of grades you get, but if you want to be able to buy a true home in Chicago, and pay for lawschool, and support a family you better have a lot of family money, or be able to take on a ton of debt. If you expect to be making 6 figures when you graduate, you better get into NW or UC.

To be frank, you probably will never be able to afford a single-family home in an area you described. I hope for your sake that I'm wrong, but the cost is typically outrageous.

[Drover]

Originally Posted by chet everett

Experienced lawyers are getting cut and remain unemployed unless they have connections and/or settle for a non-career path "utility player" position that pays little more than a paralegal...

In other words, generally scooping up jobs in desperation that would otherwise go to new graduates, leaving said graduates in a rather frustrating holding pattern.

Not that I speak from experience or anything.

[mrbonesSTL]

Originally Posted by Drover

A price range would be helpful.

A note on the "lucrative lawyer" business: unless you've got the chops to make it into a school like Northwestern or University of Chicago, you're very unlikely to have the chops to make a pile of money as a lawyer. A semi-comfortable living? Sure, especially if you have an SO contributing to the household income, which helps take the sting out of the student loan payments. Lots of people go into law school believing they'll be the exception. Very few are. Even UC and NWU law grads are struggling in this current market. Not trying to talk you out of law school, just trying to get you to reflect on your expectations a little.

I understand. I'm not for sure saying I'm going to law school in Chicago. I may just stay in STL and go to Washu Law and move to Chicago. Now I'll of course have a business mgmt degree to fall back on if I can't find a decent firm to work for. I'm assuming a home close the the city is gonna be $200k+.

[soulful]

You might want to do a search of single family home on realtor.com. Use their "advanced" search feature and only look at single family homes. Search 60614 (Lincoln Park neighborhood in Chicago) as lots of top notch attorneys at big firms live in that zip. This will give you a feel as to what single family prices are in the good areas (and Lincoln Park does remind me of Central West in St Louis, lots of shops, restaurants, people walking around, etc etc.).

However, even in good neighborhoods within the city, you may want to consider private schools for the kids.

[Attrill]

Originally Posted by mrbonesSTL

I'm assuming a home close the the city is gonna be $200k+.

If you're looking to be close to nightlife of any sort you'll need to be in the city (or possibly Evanston or Oak Park). Most of the nightlife is not downtown, but is out in neighborhoods like Wicker Park and Lincoln Park. There are also neighborhoods that have a decent selection of nightlife, like Andersonville, Logan Square,and Lincoln Square, that could work as well. You will not find a livable SFH for $200k in any of these neighborhoods (or Oak Park and Evanston either). A move in ready house will start at $300,000 and even fixer uppers start around $250K. Logan Square is the cheapest of the bunch, and the lowest sale price I've seen there for a solid 2 bed 2 bath is $325k. I have seen a few places sell for $190-210k, but they have all been tear downs. Below $250k most homeowners are better off renting out the property.

And yeah, schools are another issue entirely. It is possible to get your child into a good public school, but it takes a lot of research and some luck. You should be prepared to pay for private school if GEAP tests and Magnet lotteries don't work out for you.

[mrbonesSTL]

Originally Posted by soulful

You might want to do a search of single family home on realtor.com. Use their "advanced" search feature and only look at single family homes. Search 60614 (Lincoln Park neighborhood in Chicago) as lots of top notch attorneys at big firms live in that zip. This will give you a feel as to what single family prices are in the good areas (and Lincoln Park does remind me of Central West in St Louis, lots of shops, restaurants, people walking around, etc etc.).

However, even in good neighborhoods within the city, you may want to consider private schools for the kids.

I live in the west end now in st. louis and i have a 3bdr, 2k sq ft apt for $800/mo. I know I won't get that in Chi. I will def look at the area/zip you and others have given me. I really just need to be out of stl and in an actual active city.

[mrbonesSTL]

Originally Posted by chet everett

You intend to PURCHASE a home AND go to law school? And have a "very lucrative " career while focusing on being " close enough to downtown for clubs etc" and being a parent in "good school district"...

Lots of problems.

Chicago region has higher than average cost of living, with housing being among the most costly in the county. The better law schools ( and even the fair ones...) are among the most competitive and costly in the country. Not likely you will be able to purchase a home and being in law school and be a part and have time for clubs etc...

Zip codes? Hmm 90020, fantasy comes to mind.

I am not just bashing you. I have known more than a few law students that did have a spouse and kids, but man that was ROUGH. Even with money saved up things were very TIGHT, free time was close to non-existent. Even if they had family nearby it was not like school and parenting left piles of time enjoying nightlife. None of these folks even thought about home ownership, rent was hard to come by...

Btw some of these same friends who now are jr partners or sr associates at law firms tell me that unlike the high starting salaries that firms extended to talented young lawyers several years ago the firms have had massive cut backs. Law students that have even very impressive credentials, suggesting many hours beyond the classroom devoted to the law review or clinics are getting only "waiting list" offers. Experienced lawyers are getting cut and remain unemployed unless they have connections and/or settle for a non-career path "utility player" position that pays little more than a paralegal...

You have bigger things to consider.

Please, everyone, I did not post on here to get shot down saying I'm not going to do this & that and it's hard to get this job & that job and ect & ect. I just want to know the decent areas to reside in & what areas to steer clear of please. That is all. I need a home b/c I have 2 dogs & a cat (1 is a husky). I understand the job market.