The dorms at Loyola are pretty nice. I lived in Mertz as a freshman and really liked it. There were communal bathrooms but they kept them super clean and it actually helped me get to know people because it forced me out of my room. Sophomore housing is great because it's all apartment style. All the dorms have their own kitchen and it saves you a ton of money on food. There is one dorm downtown that is pretty awesome. The view is spectacular and it's located right off Michigan Ave. There isn't a whole lot of upperclassman housing, most of us get apartments in the city. Also cheaper than student housing.
There are quite a few dorms, and some are being renovated/built right now. I got to live in Regis my freshman year. It was called the "hotel," because it was the nicest dorm. You lived with one other person in a studio sized room and had your own bathroom! The other dorms had more people to a room and communal bathrooms. Sophomore year, I lived in Holy Cross Hall, and I got lucky again, because my roommate and I had two rooms this time - a living room and a bedroom. And our own bathroom. It was still tiny, but it was two rooms nonetheless. Both dorms had Resident Advisers who were there to help with any problems and who planned activities and events for us to get to know each other better. Neither dorm had a cafeteria inside - only two dorms do: Simpson and Mertz. So, we walked to those cafeterias, but everything is so close at Loyola that it doesn't matter.
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