Chicago Gut rehab: Cost of rehab/square foot

[Julece Glaum]

Hi BP,

I have the opportunity to do something I've always wanted a gut rehab in the Lincoln Park neighborhood!  I found a property but it's completely gutted and I don't think the rough in is done either.  Anyway, I'm trying to gauge how much condo quality rehab is per square foot in Chicago on the north side.  The building is set up for 6 units 2 3/1 and 4 2/1. Any help is appreciated.

[Gilbert Dominguez]

First I would check with the city building department to find out exactly what condo requirements are. For example:

. Sprinkler system

. Grounded electrical all code conforming

. Fire rated partitions

. Fire rated ceilings

. Separate metering for electric, water and gas

. Code conforming copper tubing and other code conforming plumbing. 

Etc. Etc. Then I would get a GC out to the site and request an estimate or quote to comply with all condo building requirements. 

I am assuming you want to prepare for  a condo conversion in the future. Is that right?