His statement would probably be more true if you demo and rebuild an entire house and you're paying bust-out retail for labor.Just remember what I tell my kids - all generalizations are wrong.#3. 

Then you stop and think, "is there a better way to make the same amount of money faster" such as a "Minor" fixer instead of a rebuild. 

The HOA insurance is replacing all 50 units with rebuilds to equal plans and features as the origional plans and features back when built in the 60's, which is suppose to take about a year to finish. 

The only thing that could work is to buy something in the local market for the land, tear it down and rebuild for the foreign market but then you're a developer.

Due to Chicago's building code, we would need to tear it down and re-build for it to be permitted.Has anyone gone the route of installing a steel porch instead of wood?  

I know these homes need to rebuild and basically I am seeing if it is a area to look into more?

Good to hear Jon but for the heavy damaged victims small comfort at first time..I know this from 2002 here in Saxonia with the big flood in Grimma or Dresden, insurance companys paid all very fast and plain but rebuilding take up long time.All in all 4 billion Euro from the insurance companys and 5 billion euros from the EU/German country.

or stop the damage (tear out wet insulation,...) it is likely that the company would approve the costs but I recommend checking it first.Even though your policy is at Replacement Cost, they will only pay that amount if you rebuild.

It looks like the property need a complete rebuild.

You're going to want to rebuild your life after Covid.