There are many great areas and wide variety of multi level homes on the market. I would suggest, Old Town, Lakeview, Wicker Park, Bucktown, Lincoln Park, Andersonville, Roscoe Village. All are close to downtown, restuarants, shopping, public transportation. If you are looking for a close suburb to the city: Oak Park, River Forest, Forest Park, Park Ridge, Evanston. I am currently helping a couple look for a rental income property in the Oak Park area and finding many distressed properties at very low prices. It depends on how much you are willing to spend on sale price and rehab and are you considering the possibility of renting out the units. The Chicago rental market is hot, good rentals are gone in days and often with several applications on them. Please contact me if you would like to discuss this more in detail and I can have you listings sent by the end of the day.