That is a very common problem with the Vortec engines. You must REPLACE the Intake gasket and then change the oil and filter a few times in a roll after letting the engine run a few minutes each time until you get the engine oil to clean up.
You could have a cracked engine block.
YES, They are the same engines. That would be a direct bolt in.
It is supposed to be red (Dexcool), brown means it got burnt when the engine got hot
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That would be the 4L60E
A Chevy Cavalier can use standard, all-purpose antifreeze, so it's unlikely that the wrong kind was put in. However, if it is not diluted properly and the antifreeze is mixed with more than 50 percent water, the engine can overheat under some circumstances.
Most all suburban that year are 4x4
You didn't say what size engine you have. But I would have to say that it is a V-8 engine. The sensor will be bolted into the passenger side of the engine BEHIND the starter. You Will Have To REMOVE the starter.
My first stop would be the dealership. If you do not want to do that you could go to chevy.com to check out the Chevy Suburban. They would have all the info you need to make your decision.
That is condensation due to the exhaust system being cold and the heat from the engine makes the exhaust system / pipes sweat. As the exhaust system heats up then that will stop. Now you said WATER not antifreeze. If you had engine coolant running out of the exhaust then it would be the color of the antifreeze and it would be steaming WHITE and then you would have an engine problem, MAYJOR. You said water. Drive it you have no problems. That is normal.
That would be the 4L80E
Blown head gasket or a cracked head. Do not drive this car. Serious engine damage will occur.