All Forum Posts by: Ross Renjilian

Federico Gutierrez I completely agree! the prices especially in Chicago don't justify dropping another 100-200k for major renovations.

Is it just me or did inventory just dry up in the Chicagoland area? Is it just a sign that "winter is coming"?? I have been looking for a 2 flat that needs a little work on the west side (Logan square / Humboldt park area), and there are maybe 2 for sale! Has the selection always been this tight? 

Any commentary would be greatly appreciated! I'm not in a rush just looking for another great property in a great area :)

Depends on the brown! But original features are the new must have. I say embrace them, and maybe find other simple ways to make the space feel more contemporary. Don't mess with a good thing! Ross Renjilian Architect

Zach is right. Zoning can really hold up a project, as of right is the way to go. The city of chicago does make it a little challenging due to the e-permit system. Expediters don't have as much pull as they used to when getting drawings across the reviewers desks. In terms of contractors, just make sure to ask for references. A good contractor will have work done here in chicago and will have maintained a quality relationship with the owner. Also have an architect suggest some recommendations, they have working relationships with multiple contractors and will have some insight on who is best for your job! Good luck Ross Renjilian Architect

Just wanted give this forum post thing a try! I am an avid listener of the podcast and decided to jump onto the forums.

I am a local architect here in Chicago specializing in residential and small scale commercial / hospitality build outs. 

I am also very interested in real estate development, and hopefully one day will start developing some projects here in Chicago! I am putting an offer on a property tomorrow so wish me luck 😊

Looking forward to being a part of this great community, and if anyone needs any architectural guidance just send me a dm! 

Sincerely,

Ross Renjilian 

Mario, 

I hear you! It is for sure a juggling act, but manageable.

@gerardo Villarreal I am having similar feelings about the current market in Chicago. I got in on a 6 unit building in humboldt park 3 years ago, and I have to say the property has been doing fairly well. We had it delivered to us as a brand new rehab, and I can't seem to find a similar multi unit property that justifies putting the money into it for a rehab for rentals. 

On a positive note I have started to notice prices starting to drop a little bit on properties that have sat for a little while on the mls. I also think there may be some value in creative solutions for undesirable lots / houses that are not maximimizing their zoning potential / building higher end properties / or getting a head start in an under appreciated neighborhood. 

I'm keeping an eye open, and I think prices will start coming down in the winter