This may help GMATClubbers: I got this response from a Booth student (very nice, thank you!) when I emailed him/her and asked about where to live and if you needed a car when going to Booth (before I knew I was Denied)
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It was truly a pleasure meeting and chatting with you as well! I'm glad to see that you're already thinking ahead about your potential move downtown. As you know, I live at the Shoreham and it is a great building. I currently have a convertible and it is extremely spacious for one person at 610 square feet (I think this right). The rent includes water, gas, cable Internet, dish television, and access to the gym. In addition to rent, I pay for electricity which comes as a separate monthly bill. It is about a 10 minute walk to the Metra and recently, they opened a pedway that is accessible about a block from the building and takes you directly to the train. This is helpful when it's raining or snowing or extremely cold outside (I'm sure you're aware). I have very few complaints about my building except for one minor detail. It is situated on the same level as Lower Wacker Drive and because of this, I have to take an elevator up to street level whenever I go out. Again, it's a really small detail but it can be a hassle to hail a cab and it adds time to my walk.
The Shoreham is under the same management as the Tides and the new Aqua building. The Tides is the building right next to the Shoreham and has very similar features except it is newer and has its own elevator with direct access to the street level. The Aqua building was quite popular this year since it just opened and it has really nice amenities including indoor basketball courts, indoor pool, gym classes, outdoor track, bbq/lounge area, and other things. It is the nicest building but it is also the most expensive. It is located on street level and has direct access to the pedway. All three of these buildings have in-unit washer and dryers.
Millennium Park Plaza has consistently been popular amongst Booth students since it is located directly across the street from the Metra stop. The apartments have hardwood floors, but are older and most of the units do not have their own washer and dryer. Additionally, the gym is not as nice. However, the location is very convenient.
Other popular apartment complexes downtown include:
Park Millennium - This is actually a condo building and you would have to rent from an owner. Direct pedway to the Metra.
Columbus Plaza - Older building but spacious apartments. This building is typically the cheapest and also has a direct pedway to the Metra. It is also very easy to get to Gleacher, our downtown facility. Does not have in-unit washer/dryer.
MDA - Very trendy and modern. Almost feels like you're walking into the W Hotel. It has an amazing rooftop party room with pool table and outside seating. Probably the farthest walk from the Metra.
Cityfront - Located on the other side of the river and is more of a hike to get to the Metra, but it is about a block away from Gleacher and is closer to restaurants and going out.
I do not have a car and most people who live in the aforementioned buildings do not have cars. I would guess about 5% of the people that live downtown have cars. It is not necessary to have a car since the buildings are located close to the Metra and the El and it is very easy to share cabs since most people live in these buildings or buildings around them. I think it is around $245/month or $295/month for a reserved parking space at the Shoreham. This rate may have changed since last year. It can be helpful to have a car when you want to go grocery shopping or when you want to go somewhere that isn't the most convenient by public transportation. Occasionally, we'll group up and rent Zip Cars to go grocery shopping.