Boiler Out in 13 unit building *Quote at 31k* Good?

Multi-Family and Apartment Investing
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Boiler Out in 13 unit building *Quote at 31k* Good?

Ryan Yee
Saratoga Springs, UT · Member since 2015 · 2 posts · 1 vote

I have an apt building in Chicago and the boiler keeps going out. We have fixed it a couple times but feel like it will keep going out. 4 Season Heating said it will keep happening unless its replaced. Quote came in at $31k at 0% interest for 4 years. That covers 4 years of services too. Does that sound reasonable? Waiting for other quotes but want some opinions. Let me know, thanks. 

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John Warren
Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
5y

@Ryan Yee I would be very cautious trusting a place like 4 Seasons to give you advice. How large is the building? How old is the boiler? What parts have you had to repair? I regularly see boilers that are from the 80's and 90's that are working just fine, and I just saw a functioning boiler from 1942 in Berwyn yesterday that was still working fine... no joke!

With boilers, you want to make sure you have changed all the parts that wear as they can Nickle and dime you. I try to change the old B & G circulator pumps to the new wet rotor style pumps right away since they require no maintenance. Also, any zone valves should be looked at during the warmer months and replaced preemptively. 

The last thing to consider if you are replacing a boiler is you want to know how much plumbing they are doing. Switching a boiler is not quite as simple as a furnace since it involves a lot of plumbing. Depending on the skill of the technician, you can actually end up spending up to a day just redoing the plumbing to optimize the way the systems work. 

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  • John Warren
    Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
    5y

    @Ryan Yee I would be very cautious trusting a place like 4 Seasons to give you advice. How large is the building? How old is the boiler? What parts have you had to repair? I regularly see boilers that are from the 80's and 90's that are working just fine, and I just saw a functioning boiler from 1942 in Berwyn yesterday that was still working fine... no joke!

    With boilers, you want to make sure you have changed all the parts that wear as they can Nickle and dime you. I try to change the old B & G circulator pumps to the new wet rotor style pumps right away since they require no maintenance. Also, any zone valves should be looked at during the warmer months and replaced preemptively. 

    The last thing to consider if you are replacing a boiler is you want to know how much plumbing they are doing. Switching a boiler is not quite as simple as a furnace since it involves a lot of plumbing. Depending on the skill of the technician, you can actually end up spending up to a day just redoing the plumbing to optimize the way the systems work. 

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  • Jonathan R McLaughlin
    Rental Property Investor · Boston, Massachusetts (MA) · Member since 2016 · 2k+ posts · 2k+ votes
    5y

    @Ryan Yee good thoughts from John Warren. 31k sounds very high for just the power plant

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  • Jonathan KlemmBusiness Member
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    Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes
    5y

    @Ryan Yee - I just double-checked with my boiler guy and he said if it's a full replacement $31k may not be that far off.  He just did an 8 unit boiler and the total cost was $23k.

    Also, a big determining factor is whether the boiler is hot water or steam. What is the current size of the existing boiler?

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