All Forum Posts by: Randall Owens

Good morning,

Can anyone recommend a reputable general contractor who can specialize in rehabbing a multi family in the chicago land area. This is a full gut rehab with 4 total units. 

Are there any hard money lenders available in the Chicagoland area? 

BPs community,

So I have had four contractors come out and do bids on a basement that I am planning to convert into a legal third unit. The bids have been very inconsistent with numbers ranging as low as 45k to as high as a 100k. At this point, I am trying to figure out if the contractors offering bids between 80k and 100k are overpricing their job and trying to finesse me. What I did notice is that the contractors that were charging larger bids were those that had bigger contracting companies and the ones with the smaller rates was not as big of a contracting company but still related they could get the job done at a much cheaper price. At this point, I am not looking for an extravagant finish in the basement just an additional unit that is nice, comfortable, and livable. Any advice?

BPs community,

So I have had four contractors come out and do bids on a basement that I am  planning to convert into a legal third unit. The bids have been very inconsistent with numbers ranging as low as 45k to as high as a 100k. At this point, I am trying to figure out if the contractors offering bids between 80k and 100k are overpricing their job and trying to finesse me. What I did notice is that the contractors that were charging larger bids were those that had bigger contracting companies and the ones with the smaller rates was not as big of a contracting company but still related they could get the job done at a much cheaper price. At this point, I am not looking for an extravagant finish in the basement just an additional unit that is nice, comfortable, and livable.  Any advice? 

@Jonathan Klemm I am currently looking for contractors to a do  bids on a property that I am currently under contract with. I have an unfinished basement that I plan on converting to a legal 3 unit. Would you recommend @Rj De Leon or others?? 

I currently have this property under contract and is just looking for a referral for a good, experienced, and reliable  general contractor to complete the conversion of the basement to a 3rd unit.  

It is zoned as a RM-5.  I called the city and they confirmed that it is zoned appropriately for 3 units. Just looking for a contractor to do bids on it for me ASAP. Any help in regards to a reliable, experienced,  licensed, bonded, insured contractor would be greatly appreciated.  

Good evening BPs community,

Can anyone recommend a good contractor in the Chicagoland area that they have experience with that would be able to create a 3rd unit in a basement. Currently, I am looking at a 2 unit building but I want to convert the basement into a legal 3rd unit. Your help would be greatly appreciated. 

Helen, Any update to your zoning process? I am currently in a similar situation with a 2 unit that has a basement with 8ft ceiling, front, and rear entrance. I am trying to figure out if it is worth going through the time and money to get a property rezoned and is the city tough at making the decision to rezone?

Hello All,

My name is Randall Owens and I am looking for serious help in regards to a 2 flat building with a unfinished basement that I plan on converting to a 3rd unit in Chicago. I have a pre approval that includes 40k in rehab cost but I am unsure if this is a sufficient amount. For this reason, does anyone have any recommendations on who I should reach out to maybe zoning experts, general contractors, or architectures to see if this is possible with the structure of the property and how much this rehab would cost.