Comments (46)

  • Incoming Analyst in IB-M&A
Jun 28, 2022 - 6:32pm

If you think this is bad look at nyc lol

Jun 29, 2022 - 11:59am
CRE, what's your opinion? Comment below:

"Affordable" is a meaningless term

Commercial Real Estate Developer

  • 1
  • 1
Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
Jun 30, 2022 - 7:53am
CRE, what's your opinion? Comment below:

In what sense?

In the sense that it is entirely relative. Literally anything "affordable" to one person is "too expensive" to another.

Is $2,500 expensive for a 1 bedroom in Chicago? Is $5 expensive for a dozen eggs? Opinions will inevitably be mixed. 

Commercial Real Estate Developer

Jun 29, 2022 - 1:26pm
Invalid_CREdentials, what's your opinion? Comment below:

I'm guessing OP is referring to COL. 

Don't @ me

  • Assistant in IB-M&A
Jun 30, 2022 - 8:54am

This is such a real estate douchebag answer lol. Cal me bitter or jaded or whatever, but people are so fed up with everything real estate related. Landlords jacking prices to obscene levels, brokers charging stupid af fees for doing nothing, property companies rationing inventory to create demand - I swear they are all as slimey as they come. Everyone I know is paying a considerable amount more in rent as a % of take home pay than they did pre-covid.

Most Helpful
Jun 30, 2022 - 11:30am
CRE, what's your opinion? Comment below:

This is such a real estate douchebag answer lol. Cal me bitter or jaded or whatever, but people are so fed up with everything real estate related. Landlords jacking prices to obscene levels, brokers charging stupid af fees for doing nothing, property companies rationing inventory to create demand - I swear they are all as slimey as they come. Everyone I know is paying a considerable amount more in rent as a % of take home pay than they did pre-covid.

An investment banker taking a moral high horse against real estate, while failing in every way to understand how the rental market works, is pretty fucking comical. 

Commercial Real Estate Developer

  • 5
Jun 30, 2022 - 12:51pm
maineiac42, what's your opinion? Comment below:

Capital A  Affordable generally means 30% of gross income. If the median income is 50k and then median rent is >$1,250 a month then housing is generally not affordable in that market. 

Array
  • Intern in RE - Comm
Jun 29, 2022 - 12:58pm

Damn, that sucks. Almost nothing "decent" is "affordable" anymore. The 4b2ba apartment (student housing) I will be living in next schoolyear is 8,000 a month. Los Angeles.

Funniest
Jun 29, 2022 - 1:10pm
Vænnen, what's your opinion? Comment below:

have you tried looking on the southside of Chicago?

I heard 64th & King Drive or 63rd & St. Lawrence are very diverse and vibrant areas...

Jun 30, 2022 - 3:16am
Kevin25, what's your opinion? Comment below:

I won't be surprised if somebody tries to gentrify some parts of the south side. you can literally buy houses there for $100-200k and drive north for 10 min and the same houses will be selling for $1-2M. great investment opportunity if you somehow can gentrify these neighborhoods.

Jun 29, 2022 - 1:48pm
Bananaslayer, what's your opinion? Comment below:

OP is incorrect. Chicago is widely recognized as still having a great housing market. Housing prices are up 18% nationwide, and 6% in Chicago. Best city in the US to live in right now.

  • Investment Analyst in PE - Other
Jun 29, 2022 - 2:04pm

This is renting nimrod, and go talk to the multi jabronies who are jacking rents 30% city wide

  • VP in RE - Comm
Jun 29, 2022 - 2:14pm

When you annualized rent growth from 2019-2022, the rate is 3-4%. The 30% bump is to get rents back to a precovid level after rent tank 20-25% in 2020. Same goes for the stock market index/everything else - as in the individual annualized rate of growth is consistent with their respective historical trends.

When comparing Chicago cost of living vs metro area median HHI, there is clear evidence that this metro is still one of the best/most affordable top 10 metro in the country. You're not going to even have a shot at living in 1BR in a luxury building in NY/SF/Bos/LA paying less than $3000/mo. In Chicago, you just may...

And yes - I'm the multi landlord for that apartment you can't afford 

Jun 30, 2022 - 12:53pm
maineiac42, what's your opinion? Comment below:

Way too much tax risk to own property there. 

Array
  • Prospect in IB-M&A
Jun 30, 2022 - 3:32pm

That's crazy bro now I know why its real name is Paradise

  • Associate 3 in RE - Comm
Jun 29, 2022 - 3:08pm

I live in a pretty dope 1BR in Lakeview for $1,700. I'll admit my place is a bit of a "steal" (LL didn't raise rents for the last 2 years) but there's definitely affordable places if you look outside of the Loop, Old Town, River North, and Lincoln Park.

Lakeview, Uptown, Roscoe Village, parts of Wicker, Logan, Bucktown are pretty affordable.

Jun 29, 2022 - 4:26pm
Jeezy, what's your opinion? Comment below:

Keep digging around, see if you can find that sleepy condo owner that just wants a nice kid in their apt who will pay on time.  Maybe these folks aren't prevalent anymore.

  • Intern in IB - Gen
Jun 29, 2022 - 8:40pm

Lived in Chicago for 2 years now and my first 2br was $1200 in Lincoln Park, no shit. Owner was exactly how you described it, really great experience but I moved to be closer to my school and office

Jun 29, 2022 - 7:52pm
CRESF, what's your opinion? Comment below:

It's a lifestyle choice, but look in the neighborhoods (especially west side). Roommates obviously help. 

  • Associate 2 in PE - Growth
Jun 29, 2022 - 10:07pm

You are so obviously looking at the wrong places. It is easy to find a very nice single bed for sub 2200 in great neighborhoods. If you are even moderately ok at critical thinking, you should be able to find sub 2k studios or converts in the loop, river north, Gold Coast, or old town, areas, let alone picking places farther from the loop.

If you live with someone, you should easily be able to find something from 1700-1850, and if crafty a place from 1500-1700. 
 

Have you tried googling?

  • Associate 1 in PE - LBOs
Jun 29, 2022 - 10:53pm

I agree OP is an idiot but still funny to see the Chicago simps get mad

  • Investment Analyst in PE - Other
Jun 30, 2022 - 12:30pm
  1. Sub 2k for a studio is appalling for a market that is supposed to afford a good CoL, anything >1700 for a studio is stupid especially in the new high rises where a studio is  
  2. Any studio that's renovated, not a shit box, and close to amenities like a gym or grocery store in those neighborhoods will run you 1800 to 2200+ this summer
  1. I'm adult I'm not living with roommates
  1. I'm not going to live in bumfuck nowhere wicker park or wrigley like a college clod fresh out of school

All these points are too demonstrate this is no longer an attractive CoL city due to the current rent increases happening this summer.

  • Analyst 1 in IB - Cov
Jun 30, 2022 - 3:39pm

There are still some good deals to be found. There is a general shortage of 1/1 and studio space across the USA so this kind of space will be expensive. Looking at 2/2's or 3/3's as long as you arent looking at the sexiest and sleekest building, the market is cheap.

Jun 30, 2022 - 3:41pm
Sham Wow, what's your opinion? Comment below:

You can live in a related building for 2k - Go find a related building in any other major metro for a similar price, maybe Washington DC and even there it is slightly more expensive

Go to new york/LA with similar budget on prime location studios and you will be in a shithole

Jun 30, 2022 - 4:57pm
Sham Wow, what's your opinion? Comment below:

Dolorem animi amet nihil numquam esse. Aliquam et sit et et distinctio sit sed.

Consequatur nesciunt rem autem blanditiis enim sapiente et. Nostrum facere labore tenetur neque aut odit natus. Nostrum harum ut quas impedit. Praesentium voluptatem corporis consequatur. Quis voluptatem excepturi est quas molestias rerum.

Suscipit commodi facilis qui. Voluptas voluptatem illum qui voluptatem officiis cupiditate. Dolor nostrum recusandae dolore. Enim voluptates repudiandae ex corrupti libero iure sit eos.

  • Analyst 1 in IB - Gen
Jun 30, 2022 - 5:16pm

Praesentium saepe tempora nam soluta dolorem. Ab veniam quia veritatis voluptatem. Facilis eos omnis et ullam consequatur. In reiciendis eos dolor corrupti. Animi et officiis quia autem reiciendis.

Sed dolores accusamus earum deserunt sit. A magnam mollitia aut dolorum. Quas cum qui consequuntur ea est rerum. Consequatur sint vel ab recusandae magnam maxime et. Et rem illum asperiores eius beatae quidem rerum voluptas. Aut eligendi sed vel distinctio.

Optio itaque animi nihil non ut est. Non et est voluptates eos qui. Cum doloremque est id. Hic nihil dolor voluptas molestiae optio quis.

Deleniti veritatis sint ea placeat. Et consequatur officiis itaque dicta. Maiores voluptas hic perferendis qui est. Vel consequatur reiciendis iusto veritatis ea et iure inventore. Quia officia eius reprehenderit voluptas et tempora. Odit nemo animi aut voluptates pariatur porro.

Start Discussion

Career Advancement Opportunities

August 2022 Investment Banking

  • Jefferies & Company (▲05) 99.6%
  • Lincoln International (= =) 99.2%
  • RBC Capital Markets (▲09) 98.8%
  • Bank of America Merrill Lynch (▲03) 98.4%
  • Macquarie Group Limited ABN (+ +) 98.0%

Overall Employee Satisfaction

August 2022 Investment Banking

  • Lincoln International (▲06) 99.6%
  • Jefferies & Company (▲11) 99.2%
  • Greenhill (▲07) 98.8%
  • PJT Partners (▽03) 98.4%
  • Macquarie Group Limited ABN (▲22) 98.0%

Professional Growth Opportunities

August 2022 Investment Banking

  • Jefferies & Company (▲06) 99.6%
  • Lincoln International (▲03) 99.2%
  • RBC Capital Markets (▲12) 98.8%
  • Bank of America Merrill Lynch (▲05) 98.4%
  • William Blair (▽01) 98.0%

Total Avg Compensation

August 2022 Investment Banking

  • Director/MD (10) $613
  • Vice President (37) $394
  • Associates (204) $256
  • 2nd Year Analyst (124) $163
  • 3rd+ Year Analyst (17) $156
  • 1st Year Analyst (402) $151
  • Intern/Summer Associate (79) $147
  • Intern/Summer Analyst (304) $92