All Forum Posts by: Wen Y.

how did it go? 

I'm in Chicago and own my property, but also hitting the perennial problem of not knowing how much garage top ADU will cost without an architectural plans, and now knowing how much I can borrow if I don't know how much it will cost. and here unable to select an architect because most architect want money upfront to talk to me, even if they write back to me!

Hi there, even later reply!

I backed out and lost the $450 inspection and gave my realtor $100 gift card. 

Did you buy in Greater Crossings? 

Hello all,

a newbie here from Chicago, Logan Square area.

a two part post here...

there is a new ADU pilot program in Chicago, and I am planning to build a garage top ADU, move there, and then fix up my crumbling two flat.

still sorting out the chicken and egg problems of:

-- not knowing how much I can borrow from a bank, construction loan, without knowing how much the project will cost

-- how much I can comfortably afford the carrying cost for two years while the construction is going on... 

-- getting More-than-ONE-architect-to-call-me-back in this incredibly busy Chicago market [two architects just plainly threw me the $10k bill without even talking to me over the phone! (you want to remodel two flat and put up a garage top ADU? Stop writing emails, we don't need to know any more from you.) "pay us and we'll give you plans and don't bother to call us again, just ask the contractor to make it work even if you discover a giant sinkhole while you dig" type of situation],

-- getting a contractor who can give me a ballpark figure on construction cost [so that I can get back to the bank] with me not having selected an architect with a firmer plan, BEFORE I choose an architect, etc etc etc! 

I certainly understand people's time is money... and I often wonder how contractors may or may not want to spend time with homeowner's for a construction bid before seeing a dime.

anyhow...

I wonder how much noise will the garage-top unit hear when I come home at midnight, raising the garage door, closing the car door and the regular door?

roof / floorboard insulation?
special wall build to reduce noise?
special garage doors?
special garage door openers?

How have you west coast people navigated these chicken and egg problems of architect / bank / contractor / holding-a-full-time-job-six-days-a-week situations?

Thank you all in advance.

Wen.

What do most people who own rental do in metro area?

I am planning on closing on the purchase of a two flat in the South Side of Chicago, in a high crime area. Allstate quoted me $3600 for a replacement value of 380k, for a property that will likely close at 50k!

My current home is in the gentrifying north side Logan Square. Per Allstate, same replacement value of 380k, at $1600 per year. Go figure.

What companies have you all used? I see some people purchasing replacement value policy, and other purchasing "at cost" either at the purchase price / mortgage cost.

How does one purchase umbrella policy for liability? i.e. if the tenants sue me? Is my current homeowner insurance for my own dwelling protecting me? or is the protection coming from the rental house insurance?

Wen.