When we take down building in Chicago, we need an asbestos report to get the demo permit.

I’d stick with making it 3 bedrooms or...not do any work at all to stay under existing code - but not sure how much demo and work has already been done.

I saved money by doing the demo myself, spent the money on wood flooring, countertops, new bathroom tubs, tiles, cabinets, paint, and other cosmetic stuff, plus a new gas line for dryer and range.

We run $9,000 - $12,000, but we install cabinets, do the demo, and the trim kits in-house.

My thoughts/added consideration:  Everything else looks on point, and fully aligned with our business plan, underwriting (assuming income is accurate), comps, and demo for the area.

Would be a bonus if they do demo work also as I plan to gut the home too..

My thought at this point is to take care of the basic things that any tenant would need like the exterior issues, get the demo done for a cleaned-out space, then try to find a tenant and fit-out the interior to suit that tenant's specific needs. 

Get a great stager who understands the NELA market completely and bring them in before demo if you don't know what I'm talking about with the design and historic elements.

With the deferred maintenance, one recommended demoing the entire building and start from scratch.

Luckily the demo has already been done.