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Cash Cab Chicago didn't last long. Know anyone who was on it?
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I loved the NY version but didn't get into the Chicago one. And apparently the Vancouver host hit and killed a pedestrian.
Top Comment: Wtf
Consistent backups on the Chicago-to-Indiana toll cash only lanes
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I've now made 3 trips in the last week in from Chicago back to Northwest Indiana using the Skyway. Each time there are huge backups but only in the cash lanes. I fly right through the EZPass lanes no problem. The backups are so large though that it's bottlenecking all the way back to where it's 2 lanes so it has a negative impact on me as well. Once I can move over to the left-side EZPass-only lanes though it's smooth sailing by hundreds and hundreds of cars queued up in the cash-only lanes.
This seems like a new development to me and I was wondering if something changed in the system that's caused a whole bunch of people to no longer have a working EZpass?
Last year I'd actually go through the cash lanes often because the EZPass people think you have to go through the EZPass lanes (it's a risky strategy, unless I see an empty cash lane).
I know we can moan about not having open-road tolling (I do moan about it as well) but this is not that problem. This is a whole bunch of people going through the cash lane.
Top Comment: Are you sure this is at the Skyway toll plaza in Illinois? Based on my experience this is occurring at the Indiana Toll Road portage plaza mile post 23?
How was/is your experience with purchasing a home in the city?
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Curious to hear how buying a house or a condo in the city went for other people, as I've been on the hunt for a few months now and I continue to be shocked by the trends I see.
To start off, I understand it's a bad time to be a buyer: interest rates are high compared to the past few years, supply is low (because of the previously low rates), rents are rising.
My search has been focused around 2+ bed condos in the north side of town, along the Red/Brown/Blue lines due to proximity to family and need to commute into the Loop. I'm looking at listings in the range of $275k-$325k to allow for leeway for bidding higher. My vision is to live in the place for 4-5 years to build equity and then either roll that equity into another property or rent out.
I have submitted a number of what I considered to be competitive offers: 5-10% over asking price, with 20-33% and all have been declined. Since I started the process, I've kept track of places I liked and bid on to see how much they closed for and how long it took (to suss out cash offers).
Here are a few of the "highlights":
- 1bd+den condo listed for $299k in Ravenswood Gardens just closed for $370k (23.7% over asking!)
- Andersonville 1bd loft listed for $350k closed for $405k (15.7% over asking!)
- 2bd condo in Logan Square going under contract within 6hrs of the listing going live
- So many all-cash offers over asking price
Is 15%+ over asking price the new normal? Are people even going to see the place in person before offering to buy it?
All of this makes me super weary about my plan. Even though I fully expect the monthly mortgage payment (+HOA/taxes) to be higher than my current rent, all of this bidding makes it almost prohibitively so. Even if a refinance was feasible down the line, the higher base price would still be keeping the monthly payment above what the going price for rentals would be.
I wanted to hear from others who are currently looking or who recently closed on a place (lucky you!) to gain a sense of what you've seen and what worked for you. I was expecting this to be an uphill battle but I clearly need to recalibrate and adjust what I do going forward.
So if you're also going through this, how are you feeling? How long have you been in the market? What's your plan?
Does anyone else want to move to Milwaukee and ball out on a budget? /s
Top Comment: Looking for a home as well. We just bid 32k over asking on a bungalow for 550k. We didn’t get it. Home went for 70k over asking. I wish you luck and send some my way while it’s going around...
Chicago school board elections see big 'school choice' cash donations, including from billionaires
Main Post: Chicago school board elections see big 'school choice' cash donations, including from billionaires
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Current board probably should not have energized opposition by trying to gut selective enrollment schools. Let's see how it works out for them.