3-flat deconversion 450k rehab

[David Matsunaga]

Currently have a 3-flat in Roscoe Village under contract that we’re looking to convert to a single-family home. Architect said average for this kind of job would be around 450k. We’ve budgeted a safe amount for the project but even so, 450k seems like a lot. Digging out a basement, knocking down walls, new roof, luxury finishes, new hvac, etc. We’ve typically used our own crew for most of our projects but everyone is tied up right now, which will definitely alter things. What is everyone’s experience with a project like this? 3200sqft for anyone wondering. 

[Jonathan Klemm]

@David Matsunaga - Congrats on your property and good luck with your closing!  Roscoe Village is a great area so you won't be disappointed investing there.

$450k may be a little high but if you are digging out the basement, replacing all mechanicals, and using higher-end finishes you may not be that far off, to be honest.  Would really need to see some plans and the current property to provide some more details on the expected cost.

Happy to connect and see how we could help!