4 Unit Gut Rehab Chicago

[Harry Durden]

FIRST TIME BUYER/INVESTOR:

I am currently looking for 4-Unit buildings in Chicago. I came across a 4 unit with 3bed 1bath per unit. It has building code violations and looks like it will need a full gut rehab. I want to convert one of the smaller closets into a second bathroom and inexpensively add an island in the kitchen.

I also have thoughts on trying to redesign the space because the dining room is so large and seems obsolete. I simply have thoughts on ballpark for pricing. Here is a link of the property below.

https://www.trulia.com/p/il/chicago/address-not-disclosed-chicago-il-60637--2104387084

[Jaysen Medhurst]

@Harry Durden, no way we can give you anything close to accurate. Could be $40k could be $200k. You need to walk the property with a GC (preferably a couple) and develop a scope of work, get some estimates. Most importantly, what are the violations? They could be nothing or they could be huge.

What's the ARV of the place? What would rents be?