Having to sleep in such a place can be tolerable as long as you can still get to the cool parts of Chicago (and if it's that close to the Greyhound station, where I've been, it's VERY cool), you could just spend all day away from home. In a suburb you can't be in the cool parts of Chicago all the time.
You really don't realize how crime-ridden these projects were and the constant fear that tenants lived in.
Btw I grew up in the Chicago suburbs and I could indeed be in the city every day, all the time if I wanted to and had the time. We have trains here.