All Forum Posts by: Account Closed

@Sam P.    Try Tim Reed: 224-723-0435. Local Evanston Guy.

@Sam P.

Here was the variances I was seeking, copied and pasted from the Zoning Board of Appeals meeting agenda:

"Cooper Kerins, property owner, applies for major zoning relief to establish a third
dwelling unit in an existing two-family residence in the R4 General Residential
District. The applicant requests a multiple family residence on a lot width of 40’
where a lot width of 50’ is required (Zoning Code Section 6-8-5-5), a total lot size of
2,358 square feet where a lot size of 2,500 square feet per dwelling unit is required
(Zoning Code Section 6-8-5-4), and the addition of zero parking spaces where 2
additional parking spaces are required (Zoning Code Section 6-16-3-5). The Zoning
Board of Appeals makes a recommendation to City Council, the determining body
for this case."

This was a bit easier decision for ZBA to make in regards to parking since I have a landlocked property; it was impossible to add any additional parking. Evanston is really pushing for affordable housing right now, so they will look past a lot of things in order to add on to their supply. Hope this is helpful.

-Cooper

@Jairo Zapata   - Not sure on any construction classes, but if you have ideas, there is defiantly a youtube video explaining the intricacies. Also, ask contractors a ton of questions when you are new to construction and obtaining quotes for your projects; don't be afraid to sound like a newbie. You will start to build a wealth of knowledge doing this hands on. When vetting your GC's immediately ask for references after the initial onsite meetings, then call said references and ask regarding the job GC performed, and to what level of satisfaction. 

@Jerry N.  800sqft, roughly.

@Matt Engle   and   @Joseph Konney     Concrete Contractor was Anyway Concrete out of Chicago on Mulligan ave 

@Jason Schwartz    It was in Evanston. It started as 2. The garden unit became the 3rd legal unit.

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.

Also, huge shout out to Landon Hoon at A&N Mortgage Services for helping me refinance to a much better rate on a 30 year fixed cash out. Landon consistently has presented me with stellar service.

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...

Thanks everyone for the advice! My fiancé and I both have W2 jobs and are moving into a recently acquired single family, from our owner occupied triplex. I was just presented an opportunity to acquire some larger scale multifamily with the cash out refinance money we have on hand from the triplex. Chicagoland area. A lot to think about in terms of future goals to transition full time. Thanks again, all. I would not be where I am at today without BP forums and podcasts.