I hate when people with no significant short sale experience give short sale advice.
Can you rent the condo? This may be another choice, but you need to weigh all the risks. If they don't pay your rent or you have to evict, what cushion do you have.
I am from the chicago area and used to live in Plainfield, IL. You have a great opportunity her where you can save your credit and still be able to pursue your career goals but you cannot do anything rash. The first thing I would recommend doing is consider renting your Condo out.
If you contact a local Realtor that has experience in property management you can have them give you estimates on what the average rents are feching in the area and compare it to what you will need to cover you monthly mortgage.
Once you have a trust worthly Realtor managing your property you will be free to move to greener pastures while at the same time you can have you property put up for sale as a cashflow property.
You want to get creative on how you solve these type of problems because simply letting it be foreclosed on will hurt you for several years and most likely force you into bankruptcy which can hender your ability to find better jobs and housing in the future.
The Chris Hutchinson Team
The Michael Group Real Estate