Older Chicago area homes

[Chris Bernardo]

Hello everyone,

I'm considering properties in Chicago that are pretty old, one was built in the 1890s.  I'm concerned that buying something this old would be asking for trouble over the long-term (30 years), as the areas I'm looking in command a premium.  Specifically of concern is the flooring/structural integrity.  In one building, the floors were pretty uneven which led me to think about how I would remedy that if it became a tenant objection.  My thinking being that if I were to attempt to level them, I might find more issues in the process.  It's probably evident by this point in the paragraph, I have little experience in rehabbing, aside from reading J Scott's book on flipping some years ago.  So, for those who have purchased older homes, am I asking for trouble?  I have been looking for cracks in the foundations or brick, but are there any other tricks to spotting structural issues?  Thank you in advance.