Chicago Multi Units - northside (first time buyer FHA)
Hello, I currently already have an agent that I am working closely with, so I am not really in the market for one. I have a question about a buildings age in Chicago. Should I be concerned about buying a solid brick building in Chicago (4 unit) that was built in 1912? I feel as if that was ages ago, and maybe should be looking at something a little newer such as 1950 and up? I know that in those older buildings they have galvanized piping that could become a huge issue? I found a building I really like, and I am going to go see it tomorrow. What should I check other than windows, foundation and roof?
Most Popular Reply
Unless there are signs of structural issues, no. Most of the 2-4 unit properties in Chicago were built from 1890-1920s. The median age is 108 years.
Once under contract, get a good home inspector to check out the building and you'll be able to avoid most problems. Galvanized steel plumbing is something to keep in mind because the corrosion on the inside of the pipes can really restrict your water pressure/flow over time. But yes you should ask the listing agent for the age of the roof, mechanicals, general capex (windows, tuckpointing, etc) and any recent improvements.