All Forum Posts by: Alex L.

And GC fee typically runs about $100K(flat fee + markups from subs) from what I have heard. so the true cost of building that $1.3 million framed house is like $500K.

Thanks @Jennie Berger. there is no way that it costs builders $200/sqft to build framed houses. Most of them are going to lose money or with a tiny profit from I can see.

eg. lot aqiuisition at $250k, 4000 sqft of house will be $800k to build. With a sellout of $1.3million, deducting the closing costs and hard money lending interests these people typically have. the builder will be left with about $80K profit. Simply doesn't make any sense.

I have seen these guys typically have a hard money loan of $600k recorded, which translate to about $150/sqft. and that typically would also include their 'GC fee' already.

Thanks @Jonathan Klemm. it's just couple of blocks west of palmer square and there are standard size new constructions selling for around $1.3million.

Just closed on the purchase and it's a 40 feet wide lot. Would love to hear your experience. and people have been telling me that it's currently about $150-180/sqft to build new so I don't know if it's financially viable for me to do it at this point.

@Jennie Berger, thanks! would love to chat more about the process.

I have done small flips and rehabs over the years and mostly a buy n hold type of investor. I'm about to close on a lot in Chicago logan square shortly and thinking about tearing down the 2-flat for a new single family.

Can anyone who has done this help point me to the right direction? How should I even get started?

@Bjorn Ahlblad

Thanks. Really would love the take advantage of the existing hardwood floor instead of covering it up with carpet. Have you done things like adding additional layer of drywall to the ceiling of Downstairs unit?

What are some of the ways to mitigate noise? Just bought a 2 flat and you can clearly hear footsteps in the first floor unit when people walk around in the second floor unit. Both units have hardwood floors. Renters must hate it?

@John Warren

Separate roofing but they partially share a parapet wall with terracotta coping on top.

They sit on 2 different lots but also share the same wall on the enclosed back porch. Any issue with buying one of them? Should they be treated as townhouses instead?

@Frank Naujokas

Curious to see how your investment is doing for you.

@Mark Kappelman

Curious to see how the investment is doing?