Evanston Basement Garden Unit Conversions(the legal way)

[Account Closed]

Hey y'all. With this stay at home order I had time to compile all of my pictures from my recently finished garden unit. I had to dig down to meet ceiling height (among dozens of other things). Check it out. I was able to get a variance from the city as long as it remains "affordable" (at 80% area median income). Let me know if anyone has questions on this. It took me around a year from start to finish and I was the GC on the project.

https://imgur.com/gallery/UzQo...

[Account Closed]

Total cost was around $71,000 dollars all in with permits, fees, etc. Dig down was $27,800 and included waterproofing/drain tile, new structural, and concrete. Keep in mind I put in a ton of sweat equity on this project. It was an amazing rehab education project with the added bonus of adding a ton of value into the building along with the rent. I purchased the building as a duplex for 225,000 in Nov 2017. With the most recent appraisal we hit $400,000. Took advantage of the low rates and got all of my cash back I used to invest into the basement, and then some! 

@John Clark  The unit needs to remain affordable for 10 years with a city contract. However, 80% area median income for a two bedroom can be rented up to $1600/month based on the current Illinois Housing Development Authority schedule. This unit will be rented for $1200/month, and I have the tenant ready to sign the lease for a May 1st move in date.