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.