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I think living "in" Chicago is like living "in" Detroit - the prices are cheap because no one wants to live there.
I have a friend who's lived in LaGrange Park for about...gosh, 12 or so years now. It's a small bungalow they paid $200K for and it's appraised at over $500K now - not cheap (at least to me). Tiny yard and a garage so small they can't fit the big 4 door sedan or Tahoe in it.
Of course, if you're comparing prices to San Diego, they ARE cheap ;)
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