Years ago, a friend of mine took on a similar challenge in an older neighborhood near Chicago..he opened up the top floor to create a master suite that felt less like a converted attic and more like a boutique hotel room.

You could just as easily use another income source, an ordinary checking account ("interest bearing" (* GUFFAW *!))

@Shuvrajit Mukherjee - You have to be able to scrape that data from some where pretty easy...a lot of that property specific info is public record.There is a website called chicago cityscape...I am decent friends with the founder....it is sourcing a ton of data that might help. 

I don't think it's the end of the world @Jonathan Greene...if it still helps someone learn something new there is at least some positive.In my opinion, those trolls will get seen for who they really are in the long run, so it is just a short-term play...that I don't know is worth worrying much about.I'd rather someone say, "Here is a question we often get asked as a general contractor: how much does it cost to dig down a Chicago basement?  

The payments tend to be lower than a standard cash out refi, so if you end up in a tight cash spot, you have the flexibility to pay less for a bit until you get your bearings again. 

If it was load bearing and you were removing a load bearing wall or adding that is different.

Once in Downtown Chicago, our group of hungry guys was looking for a restaurant.

If it is interest bearing than most states require that a portion of the interest goes to the tenant.

Prior, she served as the Senior Vice President of the Purchased Asset Division for Wintrust Financial Corporation, managing the First Chicago Bank & Trust portfolio acquired from the FDIC.More important than all of her senior leadership roles is her heart.

Its like a bear saying "I don't want that bee-hive anyway" that it cant reach.But I am NOT one of those people.