All Forum Posts by: Anita Afandy

Thank you so much all for the responses! I really appreciate this community and all the expertise you are sharing with me. @Jonathan Klemm I will be in touch!

Hi fellow BPers!!

TIA on all your insights and advises. I am highly interested in investing into a multi-family brick oversized building in Chicago (5000 sqft 3 units), but am intimidated by the scope of the work. This building has been vacant for over a year but seems to be in decent shape inside. However, there have not been a lot of updates on the mechanicals and interiors. I have done real estate investing in multi-units previously, but they have mostly been updated in the past 20 years. On this one:

1. Electrical fuse system - I likely will need to re-wire the entire 5000 sqft?

2. Plaster walls and popcorn ceilings 

3. Boiler HVAC system with no forced air and no AC

4. Original plumbing from the 1800s

5. The building seems to be structurally sound but do I need to bring in structural engineers to inspect?

6. Original flooring and additions in the back

7. Need to add extra bath and WD hookups

Any suggestion on where to even begin? I am still in inspection period but would love to understand if there are any potential unanticipated surprise. Additionally, what would cost be on something like replacing boiler to central HVAC and electrical fuse to circuit breaker and rewiring of everything? Am I too bold to undertake this project? 

Again, thank you in advance!!

Oh and would appreciate if any of you have done this and have insight on estimated pricing per sqft....

Hello all,

I am under contract for a single family with approximately 2000 sqft rooftop. Right now the rooftop is still on the silver coating flat roof materials. I am wondering if I need to do anything else beyond that? perhaps build out the deck using pressure treated lumber? Would anyone have any suggestions for the following:

1. Would we need to build a deck or would the silver coated rooftop be adequate? There may be heavier traffic as I plan on renting this out and the rooftop is a strong selling point

2. Would you have any recommendation for a contractor in Chicago who does good work with a reasonable/fair price?

3. Would you recommend pressure treated lumber, or any other material considering we are cost conscious and this is going to be a rental?

Thank you so much for your insights and advice,

Anita

Quote from @Jonathan Klemm:

Hey @Anita Afandy - The simple thing is switching out toilets to high efficiency.  

How many units are your buildings and what are the water bills?  Also, what area of Chicago are the buildings in?

What does it mean to have a 35" frontage?

Thank you for the reply, Jonathan! This is actually pertaining to my primary residence. It’s a single family, and the lot is 50’ width but in the water bill, the calculation is by width and the width of my house is 35’. I pay $165 per month. The property is located in Sauganash. 

not sure if this is a normal range. The issue is that it’s not metered. In looking at my investment properties, I pay less per month for multi units..just wondering if this is what others are experiencing. 

Hello fellow BPers!

I am wondering if any of you know a trick to reduce water bills in Chicago? I have a few multi family and their water bills seem normal. However, in my single family where I reside (in the northside of Chicago), the water bill is closer to 160$ a month since I have a 35" frontage. I tried installing meters but was told to wait due to lead pipeline issues....

Thank you in advance for your suggestions!! This community rocks!