Comments (46)

 
  • Analyst 1 in IB - Ind
Aug 15, 2020 - 3:45pm

Trust me on this one. You may think living near night life is cool, but wait until you're in an apartment in Old Town and the only thing your hear from 9 P.M to 3 A.M every night is the uuntzz uuunntzz uunnttzz of all the clubs and bars around you

My Brother. My Captain. My King.
 
  • Associate 2 in IB-M&A
Aug 15, 2020 - 6:38pm

Lincoln Park is a really good place for young professionals, affordable, lots to do and not a bad commute downtown. Old Town is also a good place as long as you don't live on Wells or laSalle, a bit more expensive than LP. West Loop is a great place as it is much close to the financial district, lots of restaurants and bars, but can be costly (living with 2 other people though you can get a really nice place and split costs won't be so bad). Gold Coast and Streeterville similar to west loop in whats available to do and cost. Honestly just hop on Zillow and do some browsing. Personally I would stay away from River North, it's loud and obnoxious.

 
  • Associate 2 in IB-M&A
Aug 16, 2020 - 1:15pm

I actually live in the Loop on the river, ~5 minute walk to my office and I wouldn't trade it for anything. When I was going into the office I would go home for lunch most days which is huge not only from a perspective of being able to eat right but it allowed me to disconnect in the middle of the day, helps to keep you from burning out. If there is one thing I've learned in IB it's that time is more valuable than anything, shortest commute possible is a game changer. $1200/month for a 1bed seems really low even after factoring in free months rent. Also, gotta be careful with those offers, they'll lure you in with that but when it come to renew your lease they jack up the rent significantly.

 
  • Intern in IB - Gen
Aug 15, 2020 - 8:32pm

Hyde Park is a quick Metra ride downtown (how easy it is depends where in Hyde Park you are and where you are downtown -- HP's Metra stops are in East Hyde Park (~2-3 blocks from the lake) and the downtown stops are at Jackson & Michigan and at the north end of Millenium Park), but probably ~30 mins. The uber back should be ~20 mins. It's best for if you're working in the Loop (off the top of my head, Goldman, MS, Credit Suisse, and HL are in the loop).

Sublet from UChicago kids – most of us work in NY or SF in the summers so there are plenty of super nice apartments available (definitely a buyers' market).

source: just graduated from UC

Array
 
  • Intern in IB - Gen
Aug 16, 2020 - 1:23am

Because it’s cold as fuck. When you have grueling Uchicago midterms and finals, it’s literally hell like that ending scene from the shining.

Array
 
  • Intern in IB - Gen
Aug 16, 2020 - 2:11am

Not OP, but uchicago is a target for every BB but barclays, west coast tech groups (GS, MS, Qatalyst) and most EBs (Evercore NY, Laz NY and Chicago, PJT especially targets blue chips kids, PWP SF and NY, etc). We're also a target for every group in Chicago, but – given the NY/SF options – who would take a Chicago office???

 
  • Associate 2 in IB - Ind
Aug 16, 2020 - 10:01am

Any individual that has familial roots in the Midwest, is interested in working fewer hours (relatively), enjoys earning a NY salary in a city with lower cost of living, has experienced a Chicago summer, and considers PE exits in the form of Thoma, GTCR or MDP to be satisfactory.

 
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  • Associate 2 in IB - Ind
Aug 16, 2020 - 10:04am

More seats available in other cities. Chicago winters are cold, yes, but New York's winters aren't pleasant by any stretch of the imagination, Manhattan in August smells like a dump, and prices are much steeper. San Francisco? Human feces coupled with prices that exceed New York's.

 
  • Analyst 1 in IB - Ind
Aug 15, 2020 - 9:07pm

I just moved to Chicago and am about 2 months into my FT role. To be completely honest, I have hated living here because I am so alone. I just work all day and sit alone in my room during the weekends. With the lockdown and WFH, the only human interaction I have is with my team over IM chat, webex, and when I get groceries. I have no friends in the city and don't know where to start looking for people to hang out with. I feel really depressed and just want to play video games, text, run, walk around, do anything with anyone. I'm a 24 year old guy. If you want to run together, hang out, drink some beers, anything, drop me a message.

My Brother. My Captain. My King.
 
Aug 16, 2020 - 12:14pm

I've lived in Chicago for 5 years (lived in River North, Lincoln Park, and Gold Coast) and here is my experience (others may have different opinions and the city is going through some changes right now). The comment about living near nightlife and dealing with noise is spot on, although Covid is probably keeping that down for now as well.

River North - Easy walk to most offices (15-25 minutes depending on where you live/work). Noise is a real concern, and generally western River North is quieter as it's more distanced from the nightlife (still a quick walk) and fewer busy streets. If you live here, live on a higher floor to mitigate noise at least a little (it won't get rid of it though). Fairly pricey but some of the older highrises will be very affordable as an analyst.

*While I love the area, there is a good deal of unrest in Chicago right now and beyond the loop, River North is probably the most heavily affected out of the North Side neighborhoods. Eastern River North near Mich Ave was a hotspot for the looting that just took place.

**I currently live in River North and while I enjoy it, I think West Loop offers a similar commute and is more insulated from things like looting if the unrest continues. And if it matters to you, West Loop is much more trendy.

Gold Coast - Nice area but certain parts of Division can be really questionable. Easy train ride but walking is a bit long (30 minutes bare minimum). Wide range of options, would recommend not living right off Division, especially near LaSalle or Clark as those areas can get unsafe at night at times.

Old Town - Really fun and a nice area but you need to put some thought into where in the area you live. Wells and laSalle can be really loud and parts of Old Town aren't as safe as they could be but it's not outright dangerous or anything. Depending on where you live commuting can be a quick train ride

Lincoln Park/Lakeview - Personally my favorite neighborhoods ignoring things like distance. If you live close to the train the commute is pretty straightforward and I know people who prefer the buses as well. Both neighborhoods have similar feels but expect lots of noise if you live near Wrigley. Some busy intersections can be loud or if you're near the popular bars but easy to find quiet pockets if you look. Wide range of options ranging from pricey to very affordable on a banking salary.

West Loop - Trendy area. Probably the most expensive (followed by River North). Since you'll be having roommates to help split costs, you should have plenty of good options (not to mention buildings are offering lots of promotions right now). If you don't want to deal with lots of noise at night, I would avoid Fulton Market but it is a very fun area. Plenty of places in the area will be a quick walk there but not nearly as loud.

South Loop - Never spent much time there but the summer analysts at my firm all stayed there and liked it. It's pretty well developed but still have some questionable areas from what I heard, but all my information is second-hand.

Chicago is a great city, especially to be a banker. My buddy from business school is in NY and it's amazing how much further your dollar goes here while still being more than enough to keep you entertained. I have an 850 sq ft one bed with a solid balcony and pay less than he does for his portion of a 2-bed. Feel free to message me if you want more specific information/suggestions, I just finished finding a new place about a month ago.

TL/DR You have lots of options and the best fit depends on your priorities. I personally think Lincoln Park is an excellent choice if you don't mind taking the train/bus into work.

Array
 
Aug 17, 2020 - 12:24am

this is a good summary. it's unfortunate there is unrest around central loop and n michigan avenue. heard some rumors hotels in Lake Shore East are housing homeless and been some street stabbings. i do have friends living in LSE, Central Loop and fortunately they are all safe, just gotta practice common sense and avoid crowd and stuff

 
  • Analyst 1 in IB - Ind
Aug 18, 2020 - 10:32am

I just lateraled to a firm in Chicago. They aren’t moving to the office until (at earliest) late fall. Do you think I should move to the city right now? Just wanted opinions.

Array

 
Aug 18, 2020 - 10:40am

My personal opinion is to sit tight for now unless something about your current housing makes working remotely more difficult. Units will probably be a bit cheaper in the fall and right now, most buildings are not close to full occupancy.

I was in one of the nicer rental buildings in Gold Coast and heard a rumor that the building was only at ~50% occupancy, and management offices are bending over backwards to try to attract tenants right now. Wouldn't be surprised if that is still the case in the fall.

Array
 
  • Analyst 1 in Other
Aug 16, 2020 - 5:37pm

What are people’s thoughts on lincoln park vs wrigleyville for someone who’s right out of college and likes going out on the weekends

 
Aug 18, 2020 - 1:41pm

I used to live in South Loop. Decent neighborhood, bit of a trek if walking to River North or offices on the other side of the river. Felt safe in my apt & surrounding area. When i was there the term "up & coming" got thrown around a lot, but it was nice. Had a couple bars you can rotate around and enough to do that it wasn't boring per se. Also had a Whole Food and movie theater within 5-15 min walking. If i give anymore info you can probably pin point my exact address. Full disclaimer: info is slightly dated by about an year or so. probably better now as there was still a decent amount of development in the area.

 
Aug 18, 2020 - 4:22pm

Most interns in Chicago live in a few college dorm apartments for their summer. The Buckingham (“The Buck”), Dwight Lofts, and University Center are all popular for summers. Obviously they aren’t in the hottest areas, but living in a building full of your intern peers for the summer is a good time. Some get apartments in River North/Old Town/Lincoln Park for the summer as well, but tougher to find 10 week sublets compared to the above.

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