Perking Up Drop Ceiling

[Jason Albasha]

I recently closed on a 4 unit and there's a non-conforming 5th unit with drop ceilings. The unit is currently vacant and, as you can imagine, the ceiling isn't the prettiest thing.

Any ideas of what can be done to perk it up? Any particular tile that's worked well for you previously? Has anyone weighed the cost-benefit of replacing with drywall? 

Thanks in advance

Edit: It's a 1/1 between North Park & Lincoln Square area to give you an idea of the clientele it'll be serving. 

[Jerry N.]

Did your inspector say anything about it codewise?  You probably wouldn't believe the number of these in Lincoln Park, Bucktown and Wicker Park, and not just in basement apartments.  With a 1/1 in that area (guessing that it is a basement that is not a legal unit), it probably isn't worth it to frame and/or drywall the ceiling from an investment only perspective.  The payback on the rent is probably multiple years rather than months.  For someone looking in that area who would rent a basement unit, if the rest of the unit is nice enough, the ceiling won't matter. No replacement panel will ever make it attractive.  Just an opinion,, curious what others think which I why I read the post.  With that big of a multi unit though, consider who might rent that unit and who might rent your other units in the building.  You want to think/hope all the tenants would get along and respect each other.  If that unit is considerably less desirable than the others, you may want to take that into account too.  Also know what if anything you'd be limiting easy access to.