HVAC payoff on old vintage buildings

[Zack Reder]

Hey All,

I have very few comps because of how different my local market is from the rest of Oak Park so I'm not able to easily look at comparable units w/ and w/o HVAC in my area. I know that I'll cut down on my payments for utilities with an HVAC system - but I wanted to hear from everyone at BP. What cashflow successes have you seen with installing HVAC? Cutting costs or increasing rents? I'd love to hear some stories.

I'm currently evaluating making this improvement as I could get a fairly large grant to do so (covering 75% of the cost).

Thanks,

Zack

[Zack Reder]

Hey Ron, that sounds high unless those are very long floors. I've heard $40 per foot of duct and you can get an inefficient furnace from a good company for around 2.5-3k per unit. 

This is a community block development grant with 2 year affordability clause at 80% AMI to cover 75% of the cost.