I cannot deal with this squeaking noise any longer! I am not sure if it is coming from the connecting rod or link. I had someone turn the wheel and me placing my finger on the connecting rod. I did feel vibration coming from the connecting rod but not too sure if it is coming directly from there (since vibration may travel through various directions). HELP PLEASE!

Creaking from suspension is almost always associated with bad compression rod bushings. It will sound like a rusty old bed spring and mostly noticeable on turns.

Replace with THESE WHITELINE BUSHINGS and you will not only have improved handling feel, but no crappy noise.

I am sorry for sounding ignorant. But, the compression rod bushings are part of the control arm? And, is there a DIY for it?

The compression rod, also referred to as a radius rod, is a separate control arm.

It is not a difficult job - probably is a DIY in here for it. you press the OEM bushings out, and then insert the Whitelines. Its rather self explanatory. However, you will normally need a hydraulic press or else have to take them somewhere to have the stock bushings. I have a hydraulic press. Trust me when I say it is nice to get rid of the noise!