There is really nothing wrong with a Mercier or Windsor from Bikes Direct. They are inexpensive, decent and you don't have to spend a lot of time building them up yourself. Lots of people here in Brooklyn are riding them, including me. I suspect our bike theft problem (major) is as bad as yours. The thing is, they're cheap enough that you don't cry about scratches and dings, too, since you WILL be chaining it up.