Graco Ipo...
seen here. We bought this stroller for our son to use when he was with my parents and the needed a stroller. We used it on our trip back in 2008 when DS was 14 months old and it was awesome! He still uses it now (and he's 3)...especially when we are in crowded places (mall, theme park, zoo, etc) as he gets nervous walking amongest lots of tall people (aka grown ups, lol) and is more comfortable riding in his stroller (plus, it saves us from having to carry him all over the place).
At Babies R Us, it'll run you around $90-$100 (well worth it though if you are planning on using it with the 7 month old). And, looking at
Target.com, it is on sale right now for $80. PLUS, I've also seen it IN store at Target. So you might want to look there as well.
It's a fabulous stroller...a cup holder for the parent, a basket underneath for a few things, as well as a storage pocket for small items (we used to put diapers/wipes in it for DS before he was potty trained rather than dragging the daiper bag in for a quick stop at the mall or wherever). Height-wise it's fantastic as well. DH is about 6 foot tall and doesn't have to stoop to push it (as with cheaper umbrella strollers) and I am about 5'5" and can push it comfortably as well. It folds just like an umbrella stroller as well, so it's got the sturdiness of a full sized stroller but the compactedness of an umbrella stroller.
One other place you might look for it cheaper is Burlington Coat Factory (we needed a compact full sized stroller when DS was an infant. Graco had come out with the Mosaic (nearly identical to the Ipo, the only difference was the lap bar so that we could attach his carseat, and we ended up finding it (and the infant seat) at Burlington for about $50 less than it would have been to buy elsewhere).
Hope this helps! Good luck!