I don't recommend living anywhere close to O'Hare, which is adjacent to Elk Grove Village. Planes are loud, the fumes from the jets foul the air, and at night the sky tends to be a sort of dark burnt orange color. Nasty. Avoid Elk Grove itself, Des Plaines, Bensenville and Rosemont. Decent nearby communities would include Rolling Meadows and Schaumburg to the west, Mount Prospect and Arlington Heights to the north, Elmhurst and Lombard to the south, Park Ridge to the east (I wouldn't go any farther east or southeast, or you're getting too close to Chicago and you don't want your kids anywhere near that ****ing sewer). There are lots of smaller suburbs in the area, but I'm not really all that familiar with them, and not having kids I can't vouch for the schools.
Don't know what your salary range is, but prices on EVERYTHING will be a shock to you up here. Some of these places will be more reasonable than others.