Agreed, and the owner of this gorgeous Bucktown 4-bedroom home is basically living in poverty.
http://www.zillow.com/homedetails/2162-N-Claremont-Ave-Chicago-IL-60647/3732297_zpid/
As expensive as it is to live in Chicago, and it is, the article is obviously ridiculous and shouldn't be taken seriously. In fact, it is an insult to those who are actually making decent salaries and scraping by because of cost of living. $400,000 salaries don't fit that buck.
I'm sure that Chicago is pretty cheap compared to the bay area.