Uneven Floors in Chicago Issue

[Grant Viola]

Hey Chicago Investors, 

I am a new investor in Chicago, looking to buy a multi-family investment. I plan to live in one unit, and rent out the other. 

As I am only 23, my price point is pretty low. I have found some great units under $500k (great for multi-family in Bucktown). With this unit, I feel like it was a diamond in the rough. 

Only issue is they were built in the late 1800’s and most of the floors seem to be uneven. I have looked at over 5 properties in this price point in my favorite West Side locations. My question is, how big of a deal are uneven floors. Most rooms dip in certain areas, as well as angle up a bit before the doorways. I know that I will be able to do some cosmetic changes, paint, drywall, finish the basement, etc. in order to increase overall value of the property (also increasing rent).  Will these uneven floors affect my ability to sell down the road? Are there any newly invented, affordable ways to even out these floors without adding carpet? 

I just simply cannot afford to buy a place to gut, and rebuilt foundation. 

Any advice around this is greatly appreciated! 

[Mark Ainley]

@Grant Viola Look at your door frames and that will tell you if you have a flooring issue or structural issue. If the top part of your door frame is at a 5 degree angle or worse vs being straight you have larger issue then floor install.  if you cant tell by looking at the door frame then you should be good.

Like most of these people said..it depends. Sometimes it is the work of bad flooring install or layer over layer of new flooring for 100 years.  Also, could be damaged sub-floor.  We get this in kitchens and baths that slow leaks have messed up the sub-floor badly.  

We have also had to fix similar issues by jacking up the beams in the basement a couple of inches.  Often in this city you walk in basements and you see the steel beams supporting the structural beams running from front to back and then you might see additional beams fitted in later on.  These sometimes add needed support or lift the structure an inch or two.  It can stop or reverse sagging.  (I apologize that I may not be using all of the correct technical terms)

Then there is just flooring that has a little dip to it because it is 100 years old.