Re: Booth (Chicago): Calling all applicants - Class of 2016
[#permalink]
02 Feb 2014, 09:10
Excited to meet R1 Admits this weekend at admit weekend!
Some tips for the weekend:
If you are planning on moving into Millennium Park Plaza (this is the building where approximately 30% of the class lives), be sure to get on the wait list while you are here this weekend, if possible. To get on the wait list, you will need to know if you want to move in August 1st or September 1st (you can only move in on the first of the month) and whether you want a 1, 2, or 3 bedroom unit. The wait list is important because:
1) the higher up you are on the list, the more selection you have to choose from. Some units have granite, stainless steel, dark cherry wood, higher floor, etc and to get those options (if available) you generally have to be at the top of the wait list. In addition, some 1 bedrooms are much larger in sq ft than others, so again, top of the wait list is key.
2) if you are late to the wait list, you could end up with an undesirable move-in date (they push people to july 1 or oct 1) or you could end up without a unit at all
The events in part 2 didn't start happening I believe until after R2 admit weekend last year, so don't worry so much about that quite yet. But, if you want the nicer features/higher floor and all that stuff in number 1, then I would get on the wait list ASAP.
Millennium Park Plaza offers a $500 referral fee and they are VERY strict about how it is used. It is customary for incoming students and current first years to split this referral fee 50/50. You generally cannot share a referral fee with a current second-year because they will most likely be moved out by the time you move in, and so they cannot collect the referral fee.
Here is the statement from the leasing office, be sure to follow it closely:
"To earn the $500 referral rebate, the tenant must indicate they were referred by you on their initial contact with the leasing office, a one year lease must be signed, and the applicant must move-in. On the initial office visit or by email, the prospective tenants will also fill out a leasing guest card that must indicate that you were the specific referring individual to be eligible for the referral rebate. Referring tenant names may not be changed or added after the initial contact. In order to collect a referral rebate, tenants must be a current resident. Also, only one referral rebate is eligible to be paid out per entire apartment that is rented, regardless of the size of the unit or number of occupants. For example, if you refer 3 potential tenants for a 3 bedroom apartment, a $500 referral rebate would be eligible only. Referral rebates will be verified and deducted from your rent after the referred tenant has moved in. Referral rebates will not be paid out via cash or check. Each tenant is allowed a maximum of 3 tenant referrals per year."
If you want to be set up with a current first year at MPP, PM me. I also have contacts at 1130 S Michigan, MDA, the Coast, the Shoreham, the Tides, and Aqua if you want to split referral fees there. If you are interested in any other building let me know and I'll find someone for you. Keep in mind, most buildings only allow 1 to 3 referral fees to be paid to any given current resident, so be sure to include in your message how likely you are to sign a lease at that particular building and be sure to keep your referrer up-to-date if you are no longer interested in their building so he or she can refer other people.
Now, I will give you some more general neighborhood advice. These are just my observations.
South Loop - The building with the most Boothies down there is 1130 S Michigan, there are also people at 1212 S Michigan and from there people are more spread out. I find that most of the people that live there are either couples and/or people with dogs. It is desirable because it is a little quieter than the loop, is close to green space and a dog park, and is close to the Metra and express bus stops. It's a little closer to campus (5 minutes closer or so), so people like that. Also, the rents tend to be about the same as MPP which people like.
Loop - The biggest building in the Loop is Millennium Park Plaza (MPP). MPP is much cheaper than other buildings in the Loop and the metra stop that takes you to school is less than a block away. The pros are: living with your boothie friends, 10-minute walk to Gleacher, lots of parties, closer to river north for TNDC, decent fitness center, pool, roof deck. Internet and Cable are included, people complain about the internet all the time but I have literally never had a problem - I think that some people may not have set up their internet right or something. I don't know. The cons are: construction going on at the base of the building, no washer & dryer in unit (except 38th floor), a little more run-down than some of the other buildings. People definitely like to complain about MPP, the management is questionable and elevator waits can be really long when it's time for everyone to catch the metra to school, but since I did the price comparison of living somewhere else, I don't mind so much. From my experience, I could either live in the South Loop for about the same price as MPP, or live somewhere else in the the Loop like MDA or Lakeshore East for $500+ more a month (I didn't want to live in SLoop). Do your own research on this, but I concluded that saving $500 a month and dealing with a few inconveniences was worth it for me and I am happy with my decision.
Some people also live at MDA City Apartments which is less than a block away from MPP. MDA is a nicer and more expensive than MPP and has washer/dryer in-unit. The units tend to be quite a bit smaller or if you want a unit comparable to MPP size, it's a lot more expensive.
Park Millennium is a condo building that rents some units and there are a handful of Boothies that live there. It is nicer than MPP. The downside is that it's harder to plan ahead for this building, the condos don't come on the market until a month or two before they are available.
Lakeshore East: This is a much nicer area just east of the Loop. It does add a 5 to 10 minute walk to the metra depending on where you live. Lakeshore East is much nicer than MPP and MDA, but much more expensive than MPP. When I was looking for a 1-bedroom unit, The Shoreham/Tides were an additional $600/month for a comparable size unit, and the Coast and Aqua were about an additional $1000 a month. You can get smaller units that aren't as big of a price difference, so I would do your own research on price differences. Also note that when I was looking in February, the price difference wasn't as big but the Shoreham/Tides really jacked up their prices when it was time to sign a lease in July. Your experience may vary. I find that a lot of couples live in Lakeshore East as well as a lot of international students. It's a great place to live if you want to spend the money!
River North/Streeterville/Gold Coast: These areas are a little less accessible to school by public transit. It usually requires a long bus ride, or a bus to the metra. The people that live in these areas usually have a reason - ex, their spouse is in med school at Northwestern in Streeterville, or they lived in this location before business school. River North is where all of the excitement is in Chicago: bars, restaurants shopping. Gold Coast is just north of River north and is a little quieter. Streeterville is just east of River North and is VERY close to Gleacher Center. River North is much more expensive than the Loop, not sure about the Streeterville or Gold Coast.
The Northern Neighborhoods like Lakeview, Lincoln Park, Wicker Park, etc have a handful of Boothies as well. These tend to be students who already lived in Chicago before Booth. These areas are slightly cheaper, but since they are so far from school it is really valuable to have a car to get to school - public transit can take a really long time.
Hyde Park - This is where school is located and I think only 7% of the class lives in Hyde Park, and I believe most of the people that live there are families.
For most students, the Loop and MPP will be the place to live. Couples should seriously consider South Loop or Lakeshore East in addition to the Loop. Couples still live in MPP, too. Families tend to live further out since the cost of living is so high in the areas surrounding the Loop, families tend to either live in Hyde Park or one of the northern neighborhoods.
Per my discussion at the top, if you are at all considering living at MPP I would definitely get on the wait list asap. You can still look around at other buildings in the mean time, but it's well worth the $40 or so you pay to get on the wait list to have your choice of the best/biggest units. Again, PM me if you want to split referral fees with someone, I will facilitate.
Hope this helps - feel free to ask more questions!
close
