OT: Chicago Advice Needed: Stepson moving to an apt in Lincoln Park Area

[CochiseCowbell]

20 year old welder is tired of the South and Suburbia and wants to live big city life. He chose Chicago. It seems he's done his research & saved his money pretty well. He already has job offers. However, from what he told us last night the realtor was telling him spots are filling up fast. This seems like a sales pitch to me, and I told him there's no need to rush. Pay the small application fee and proceed cautiously.

Moving to a place I've never been and signing a lease sight unseen throws up red flags in my head. However, his mother has done it as they were a military family.

Any feedback is welcome as I've never even visited the Windy City nor have I ever needed a realtor for an apartment.

Oh and $1400+ rent for 500 s/f.

 

[mstateglfr]

He chose an affluent, safe, and active neighborhood so I could see the cost being high for sure.
One of my wife's cousins is from Florida and moved up to Chicago a few years ago- he is also a welder. He had many job offers in the city and has had multiple since taking his job- the claim that welders are in short supply seems to be true in Chicago at least.

If the building he wants to live in has a website and you can virtually tour the various plans, that would at least help reduce my concerns. In that area for residential there is new construction and old buildings that have been renovated. The old renovated buildings I have been in(probably a dozen over the years) are all 90% great and the 10% left over is quirky stuff that they had to work around due to the building being old. In the end the space is perfectly fine, its just not identical to new construction as it is retrofitted instead. Just something to be aware of.

 

[aTotal360]

One thing I learned from moving from MS to a metropolitan area is that you CANNOT outprice riff raff. Don't assume $1400 for a small apt is going to put your in paradise. When I left Starkville, I paid 3x per month of what my mortgage was in MS for an apartment. The living space was ok, but I can tell you that I didn't feel totally safe.

You need to get a feel for the complex. Don't assume anything. Someone needs to walk it to get a true sense.

Honestly, $1400/month sounds cheap for Chicago. Especially considering many condos/apts have a $300-500/month HOA that the owner has to pay.

https://www.roadsnacks.net/these-are-the-10-worst-chicago-neighborhoods/

https://www.apartments.com/chicago-il/min-1-bedrooms/

 

[ronpolk]

20 year old welder is tired of the South and Suburbia and wants to live big city life. He chose Chicago. It seems he's done his research & saved his money pretty well. He already has job offers. However, from what he told us last night the realtor was telling him spots are filling up fast. This seems like a sales pitch to me, and I told him there's no need to rush. Pay the small application fee and proceed cautiously.

Moving to a place I've never been and signing a lease sight unseen throws up red flags in my head. However, his mother has done it as they were a military family.

Any feedback is welcome as I've never even visited the Windy City nor have I ever needed a realtor for an apartment.

Oh and $1400+ rent for 500 s/f.

Lincoln Park is a great area. He will like it. I understand you feeling that way I regards to signing a lease before seeing the property. However, I could actually see it being difficult to get a good rental in that area. It’s a desirable place. But with that said, it’s not the only desirable place in the city. Despite the horrible crime in the south part of Chicago. The north part of the city is my favorite city in the country. It’s really amazing. So, I don’t think you’ll run a risk of not finding a good spot in a good neighborhood. But if he’s dead set on Lincoln park, then maybe jump on it.

 

[dog12]

from what he told us last night the realtor was telling him spots are filling up fast. This seems like a sales pitch to me, and I told him there's no need to rush. Pay the small application fee and proceed cautiously.

If your stepson has already signed with the realtor, then the realtor is going to get his/her commission whenever your stepson signs the lease.

In my opinion, the realtor is trying to pressure your stepson to sign a lease quickly, so that he/she can get the commission without having to show any apartments (or otherwise do too much work or spend too much time).

The less work/time the realtor spends on getting this commission, the more the commission is worth.

In 2020, I hired a realtor to help me find a tenant for one of my rental properties. The commission was 50% of the monthly rent and was split evenly between my realtor and the tenant's realtor.

My realtor tried to talk me into leasing my property to the very first person that looked at it and filled out a lease application. That person had some financial issues, and I've already learned my lessons on that.

I told my realtor no 17'ing way . . . let's keep showing the property. A few days later, a single doctor making almost $400k/year looked at the property and signed the lease.

The realtors always just want to get their commission easily and quickly. Once the realtor gets paid, he/she is GONE and doesn't have to deal with any of the consequences.

 

[aTotal360]

A realtor isn't making enough off rentals to matter. It's not worth the money. I'll go out on a limb and say any realtor that takes on rental business is a bottom of the barrel agent. Sometimes its only a couple hundred dollars. At the most, it will be equal to 1 month of rent.

Lastly, it's not the realtor's job to manage the property. That's what a property manager is for. They CAN be the same person, but typically are not.

Sounds like you put your trust in a ****** realtor. Takes 2 to tango.

 

[WrapItDog]

Oh and $1400+ rent for 500 s/f.

Does than include parking for his F250

 

[Pars]

I’ve found that the first place you move to in an area you aren’t familiar with is just that. The first place. Probably needs to find something affordable and in a decent area and figure out where he really wants to be on the next one.

 

[Go Budaw]

One thing I learned from moving from MS to a metropolitan area is that you CANNOT outprice riff raff. Don't assume $1400 for a small apt is going to put your in paradise. When I left Starkville, I paid 3x per month of what my mortgage was in MS for an apartment. The living space was ok, but I can tell you that I didn't feel totally safe.

You need to get a feel for the complex. Don't assume anything. Someone needs to walk it to get a true sense.

Honestly, $1400/month sounds cheap for Chicago. Especially considering many condos/apts have a $300-500/month HOA that the owner has to pay.

https://www.roadsnacks.net/these-are-the-10-worst-chicago-neighborhoods/

https://www.apartments.com/chicago-il/min-1-bedrooms/

I was gonna say the same thing. You’d be looking at $2000-$2500 / month for a complete ******** with that same square footage in NYC, San Fran, etc.

 

[57stratdawg]

It’s a great area. It’ll be pricey compared to Mississippi, but it’s safe to walk around even late in the evening, there are a ton of bars and shopping. He can head up to Wrigley area or down into the Gold Coast. I’d learn to use to the train.

Chicago is a dude’s town - sports, pot, steaks, beer, cheese and whiskey.

 

[WilCoDawg]

I’m curious how it’s “filling up fast” when everyone up there is moving to Nashville.

 

[BigDawg0074]

A realtor isn't making enough off rentals to matter. It's not worth the money. I'll go out on a limb and say any realtor that takes on rental business is a bottom of the barrel agent. Sometimes its only a couple hundred dollars. At the most, it will be equal to 1 month of rent.

Lastly, it's not the realtor's job to manage the property. That's what a property manager is for. They CAN be the same person, but typically are not.

Sounds like you put your trust in a ****** realtor. Takes 2 to tango.

That’s no ******** right there. I had one just like that, tried to talk me out of asking for minor renovations. Seller agreed with my request no problem.

 

[HotMop]

My only advice:


I woke up in a dream today
To the cold of the static and put my cold feet on the floor
Forgot all about yesterday
Remembering I'm pretending to be where I'm not anymore
A little taste of hypocrisy
And I'm left in the wake of the mistake, slow to react
Even though you're so close to me
You're still so distant and I can't bring you back

 

[AFDawg]

Well, the south side of Chicago is the baddest part of town. And if you go down there, you better just beware of a man name of Leroy Brown.

 

[dog12]

it's not the realtor's job to manage the property. That's what a property manager is for.

Yes, I'm aware of that.

I own two rental properties, and I manage both of them myself.

I only use a realtor to list the property when it is vacant, and I'm looking for a tenant. Over the years, I've discovered that is part of the game that I must play in order to find better potential tenants.

My point in my original post: realtors are always highly concerned about getting paid their commission easily and quickly, so they don't care a great deal about the quality of the tenant that ultimately signs the lease.

 

[Dawgtini]

Best advice: get the 17 out of Chicago. Go to MS coast and get a primo job and enjoy life. 17 those Yankees.

 

[Dawgtini]

Yes, I'm aware of that.

I own two rental properties, and I manage both of them myself.

I only use a realtor to list the property when it is vacant, and I'm looking for a tenant. Over the years, I've discovered that is part of the game that I must play in order to find better potential tenants.

My point in my original post: realtors are always highly concerned about getting paid their commission easily and quickly, so they don't care a great deal about the quality of the tenant that ultimately signs the lease.

I have five Rental properties and I have never used a realtor, unless they're family.

 

[dog12]

I have five Rental properties and I have never used a realtor, unless they're family.

Where are your rental properties?

Mine are in the Washington DC metro area.

Also, do you manage those properties yourself, or do you have a property management company do that for you?

 

[Dawgtini]

Where are your rental properties?

Mine are in the Washington DC metro area.

Also, do you manage those properties yourself, or do you have a property management company do that for you?

Around various locations in Mississippi. I do it myself.