Definitely will want to add insulation and all utilities depending on what your plans are for it .

We are open to getting a home renovation loan and finding something cheaper and renovating, but we still can't get into the prime areas for the budget.We have been advised to make sure to choose an area insulated with good schools and parks but that's just not possible with our budget unless we go to the suburbs, which we are not willing to do.

I don't know what the ten year appreciation rate will be, but I'm betting it will be insulated against any negative macro trends and positioned to outperform other markets, over the long term. 

I know based on the Illinois Condo Act, HOA should cover the wall, insulation and electrical. 

-Ultimately, the water came through the roof/ceiling a soaked my first floor, insulation electric, sheet rock, flooring all ruined.

The  unit is rented consistently and is functional but also needs upgrades, new siding (has 2 layers), Some rooms could benefit from re-wiring and more insulation,   Painting is always an issue as it is not plaster but older thin wallboard. kitchen is fairly new, bathroom could use upgrade, upstairs bedrooms have some pitched ceilings but I don't think based on the foundation/construction it is a candidate for a full second story and it had a new roof a few years ago.

We do positive actions like insulate, install new windows, and install high efficiency heaters and appliances.

High end houses you can't just settle for what is available you need to give the customer what they want even if that means not finishing the kitchen for 4 months while you wait for the cabinets that are on back order or you have to turn away your insulation guy because your electrician hasn't started yet because he got covid.

Pete a few months back I got really excited about BuildBlock Insulating Concrete Forms, or ICFs.  

insulate the crawl space to stop rising moisture Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?