Roof deck value-add in Chicago?

Question

My wife and I purchased a condo (top floor in an 8 unit building) in Bucktown. Our unit comes with roof rights for our half of the roof (approx 1600sqft). It’s undeveloped and I confirmed with the builder that it can support a deck (building built in 2015). The roof gives you an unobstructed view of the city skyline. There’s already a staircase built up to the roof, through the rear stairwell of the building.

We plan to make this condo our first rental property in a few years, once we’ve saved up enough for the next down payment. Curious to get thoughts on whether a roof deck would actually add value (x% higher rent). We would obviously love to take advantage of the roof while we’re living here too!

Jonathan Klemm · Answer

What's up @Adam F. - Really good question and worth asking.

For sure, an unobstructed view of the Chicago skyline will add value to the property!  1600 SF is a massive amount of space for a rooftop deck!  I am unsure if it will be a dollar-for-dollar return on the investment, but over time, with some appreciation, that will pay off.

I was notorious early on to hold off on some renovations to my own property til I was going to move, and then I didn't get to take advantage of them - so good call from that perspective.

There are several good rooftop deck companies, but they will be pretty pricey.  Happy to provide you with some referrals if you need some.  You may be able to do a HELOC to pay for it if you have some equity.

Jarret Jarvis · Answer

Hey Adam — congrats on the Bucktown condo, that skyline view sounds incredible!

In terms of ROI, adding a roof deck could absolutely add value — both for resale and rental down the line. For rentals, you might see a 10–20% premium on rent if the deck is well designed and adds usable space. In Bucktown especially, outdoor space with a view is a huge bonus for tenants.

Since you plan to rent in a few years, the beauty is you get to enjoy it now and let it work for you later. Just make sure any work is permitted and HOA-approved (if applicable). Also, consider some low-maintenance materials so it holds up well over time.

Have you started looking into rough cost estimates or design ideas yet? #letsgo Jarret

Jennie Berger · Answer

From the perspective of a seller (developer of spec properties and then selling them to buyers myself, also a licensed Realtor) and a landlord (own / manage my own rental properties), I can say with 100% confidence that almost EVERY SINGLE PERSON I have spoken to, shown my units to, sold or rented to, has asked for and expects / hopes for dedicated outdoor space. Chicago Spring / SUMMERS / early Fall are coveted and people LOVE to be outside as much as possible. It's one of the top 5 amenities most people seek, whether renting or buying. Cheers to your new deck!

Tj Floros · Answer

If you plan on adding the deck, I would consider maybe looking into a short term rental if possible. You'll definitely get a property value boost but the short term rental rate vs the long term rental rate might be a huge difference. Just something to consider, always give yourself multiple options.

Henry Lazerow · Answer

A roof deck will forsure boost the value of your condo! Maybe look at doing a smaller deck as long as checks the box of roof deck will boost value! As Jonathan says 1600 sqft is huge and will cost $$$.

Alecia Loveless · Answer

Amenities like a rooftop deck would definitely add value in my area.

I'm not sure what the cost to value would be.

for the right tenants I would think this could be a big deal.

Maybe you could try to comp it out based on sales as to what your final value add would be.

I'd bet at the appropriate price it would rent super quickly.

Roof deck value-add in Chicago?

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