Anonymous User wrote:
K&E is in River North, which is cheaper than Streeterville. Parts of Gold Coast further from the lake (towards K&E) are also cheaper than Streeterville. The only part more expensive is the area around Mag Mile in Gold Coast, but why would you want to live there?
This is entirely incorrect. Streeterville is by far the cheapest of the near north neighborhoods. This should not be surprising either as Streeterville is far less desirable than either River North or Gold Coast.
River North is the most expensive rental neighborhood in all of Chicago, Gold Coast is second.
River North is indeed the most expensive rental neighborhood in Chicago for 1 bedrooms: http://www.domu.com/blog/top-secret-apartment-data
. River North is substantially cheaper for 2BR+. Still, the median rent for a 1BR in River North is $1,800/month. Median rents in Manhattan below 96th street are still far higher: http://www.mns.com/manhattan_rental_market_report
. A 1BR doorman building in Murray Hill or Midtown East, which is walking distance to DPW/STB/etc, is just over $3,500/mo. That's a $1,700/month price difference.
You can save a lot of money stepping down to a studio. $1,450 in River North versus $2,400 in Midtown East or $2,600 in Murray Hill. About a $1,000 difference.
Also, you don't have to live in River North... Streeterville is an easy walk to K&E.
Also, it looks like that chart includes Streeterville in River North. It's just about which side of Michigan.
Other sources show Streeterville as more expensive per square foot: http://www.businesswire.com/news/home/2 ... -RentJuice