<p>^ I have just two minor issues with what MacMike said. One, Hyde Park is fine to walk around at night, although you may not want to be alone (and his assessment of the surrounding neighborhoods is correct, although they are gentrifying rapidly). I would go along with him and tell you not to live there, though, because it's relatively isolated from public transit and other dynamic neighborhoods.</p>
<p>Two, I would warn you against Lincoln Park. I have to admit that I am in the minority in this, even among my friends, but the neighborhood to me--though it is admittedly architecturally beautiful and wonderfully located--has a very yuppy-feeling culture. The main commercial arteries carry shoe boutiques; in my opinion (and this is only my opinion that I'm submitting for you to consider), you better take advantage of what Chicago offers by living in a more diverse neighborhood (Lincoln Park is nearly 90% white).</p>
<p>Neighborhoods I think you should consider, in no particular order:</p>
<p>Rogers Park. Far North Side, but well-served by public transit and right on the lake. Good neighborhood combination of families and young people (Loyola University is right there, and there is a fairly vibrant artists' community). Home to the city's Indian and Pakistani district, which is amazing. Crime is a bit of an issue in parts of the neighborhood, but I wouldn't let that deter you. Probably cheaper than what you'll find anywhere else.</p>
<p>Uptown. My favorite. Combines a nightlife with blues clubs, multiple major ballrooms and other venues with the cultural flavor of the city's most diverse neighborhood. Not to mention it's right on the lake.</p>
<p>Edgewater. Slightly less going on in terms of nightlife and that kind of thing, but still a very interesting neighborhood on the lake, and very diverse. Home to the city's best Ethiopian restaurants.</p>
<p>The South or West Loop. Ex-industrial areas that are now being retrofitted for residential use. Walking distance to downtown. Dense. Cool stuf going on.</p>
<p>Little Italy (sort of a subsection of the West Loop). Oh, it's so pretty, and there are so many wonderful places to eat. You can get two hot dogs with fries for $3.50, then walk a block and get the best Italian ice in the city from Mario's for $1.00. Also, I suspect, pretty cheap. Also walking distance from UIC.</p>
<p>Wicker Park/Bucktown. I think this has been explained.</p>
<p>I would also look into Pilsen. It's quite nice-looking, a very vibrant Mexican neighborhood. Probably a 10-minute ride on the El to the UIC campus. I don't know all that much about it, though.</p>