How Much Is The Average Apartment And Or Condo Cost In Downtown Chicago?
Nov.26, 2009 in
chalet
I want to know all costs to live in downtown Chicago, which one on average is cheaper an aparment or condo? And how much on average would be the electrical bills, water, etc. Basically, how much would I need to make a year to live there? Thanks!!
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November 26th, 2009 at 11:54 am
If you’re concerned about your budget and whether you can live downtown and how much you would have to make and how much electricity would cost on average, etc., I’d have to say don’t do it. Not to say that people who live there don’t care about money, but what’s the point of living in a swanky apartment or condo in the middle of downtown Chicago is you have to pinch pennies and turn off lights in your apartment to save money, etc.? I had a friend who got a great apartment in the John Hancock Building. Sweet, but he barely had money left over for bills after paying the rent, etc. It was like being a prisoner in the world’s swankiest jail cell.
Think: you’re going to want to go out on the town too, right? See plays, hit the clubs, take a cab every now and then, check out a new restaurant. Hell, you might even want to buy groceries! If you’re worried about how much electricity will cost, etc., downtown condo living is not for you.
Move to another part of the city, save some bucks on a more reasonable apartment and live a little. There are places that are just as great as the ones downtown for WAY less.
November 26th, 2009 at 12:08 pm
I live in downtown and my total for everything is approximately 2,800 a month; this includes utilities.
November 26th, 2009 at 12:47 pm
You should be looking at around $2,000 a month for a condo downtown with one bedroom…that includes anywhere from the South Loop all the way north to at least the Gold Coast. Gas, electric, and such should be standard whether you’re renting or buying a condo…though I imagine the condo association fees for downtown are going to tack on at least another few hundred a month.
You can get a good idea from craigslist if you search the following areas:
River North - http://chicago.craigslist.org/search/apa…
Streeterville - http://chicago.craigslist.org/search/apa…
Gold Coast - http://chicago.craigslist.org/search/apa…
Loop - http://chicago.craigslist.org/search/apa…
November 26th, 2009 at 1:37 pm
condo’s more expensive, of course. Apartments start at $1000 without utilities. If you rent closer to UIC you can get a good price (Harrison, Racine, Halsted). I would say you’re looking at $24K/yr minimum.