All Forum Posts by: Edward Burns

Reroofing cost vary. The major factors are: The number of intersecting slopes (fewer=cheaper). Are you removing existing shingles, replacing or repairing sheeting or merely putting on a new layer of singles. Time or the year (by this I do not mean summer, winter etc. but when roofers are busy do to recent storms, prices go up). Quality of the singles.

Due to these variances, make sure you are comparing apples to apples and not oranges.

If you run a search on roofing on this site you should come up with a list a recent discussions on this topic.

I recently bought a HUD home with the same statement. A quick inspection made prior to making an offer showed that the previous owner apparently could not remove a washing machine hose so he cut the pipe off before the valve. Installing a cap on that line fixed the problem.

As others have stated, the boat does not present a problem IMO and I would tell him he has 3 days to correct the oil stain. It appears the driveway is concrete, but due to shading in the picture it is difficult to tell. However, if the drive is asphalt, this oil leak may be causing serious damage to the drive. Oil will soften Asphalt causing it to weaken and flow leading to ruts. In severe cases it can leach out the heavy oil in asphalt (used as a binder) resulting in last of cohesion of the asphalt and eventually potholes (IE a major expense)

With him moving about and giving you the keys you have possession of the home. In addition you are correct that he would be responsible for part of Octobers rent, however, you have the responsibility to mitigate damages, therefore make the repairs asap and get it on the rental market and rented. The carpet and painting is what I would consider normal wear and tear. The garage conversion, I do not know how I would handle. Was it done correctly and does it increase the rentability of the house. If so, I assume he did not have a permit to do the work but can you get it permitted. If the answer to all is yes, I would charge him the cost of permitting and leave it go. If not he is responsible for returning the property in the condition it was rented minus wear and tear. Same with the fence. Here in Illinois tenant laws are somewhat strange. For single rentals there are no rules for returning deposits, but for 5 or more apts a letter stating the deposition of the security must be sent within 30 days, including cost estimates for repairs and the remaining deposit of receipts for the work must be provided to the tenant within 45 days.

IMO common courtesy on his part would have been to notify you of his buying a home as soon as the offer was finalized. Assuming bank financing when the loan was approved and closing scheduled. Yes, things could still have fallen through for him, but as a property owner you would have probably worked with him knowing the potential pitfalls and you could have made plans on "renovations" quicker.

Theoretically they could sue you for payment, win a judgement and file a lein against the property.

Your best approach would be to contact the hospital and assuming you did not have any insurance, offer a payment plan for 50% of the bill (for some reason hospitals charge higher for service to non-insured patients and insurances (including medicare) pay at a mush lower rate). Deal with billing via the phone or in person and do not discuss your property, just state you only get $XXX/per month and with other bills this is what you can pay.

@Brandon Turner

Works. Will wonders ever cease?

Different areas of the country maybe different, but where I am above ground finished living space is worth more than below ground space and usually a listing will specify above ground finished footage. As far as converting the basement into an apartment, at least here a second escape route would be required. This may or may not hurt the integrity of the basement walls (ie I am assuming they are water tight now, but putting in windows adequate for someone to escape in case of fire may result in water leakage).

Does not appear that he has much room to bargain. He needs $112K from his existing house ($65K for mortgage and $47K to pay back his parents). If you add in 10% to pay for broker commissions and miscellaneous closing cost, you have $123K that he needs to get. You can't buy it for $123K and turn a quick profit by reselling as is. So that leaves the option of upgrading the house, but you kinda indicate that you do not have the funds to tackle that.

In my mind, there is little question about the airport happening eventually (I would expect within 10 yrs). The upgrades to I-57 and as you stated the Illiana Corridor, Even the improvements to I-55 are all part of the overall plan. Also many companies particularly Freight companies have long-term options on land in the area or have already purchase land and are renting it out for farming. As to whether the Illiana corridor hwy will produce growth to the area by itself. Yes, but not significantly y itself. However, the Chicago Metro area is still growing and I foresee it in 20-30 years covering all of Northern Eastern Illinois in a semi-circle from the Rockford/Beloit area curving down to Kankakee and then upwards through NW Indiana. Unfortunately this will mean the eventual loss of some of the best farmland in the nation.

@AndrewStack - Let us start with the Airport. First proposed about 25 years ago as the site for a third major airport for the metro area. The proposed sight is just of Hwy 50 (Cicero Ave for all the Chicagoans) Just south of Peotone, north of Manteno. In the early summer of this year (2013), the State Legislature voted to make funds available for land acquisition for the new Chicagoland Airport at Peotone. Property values in Peotone have not really been affected to any great extent by this news.

Now for Kankakee (lived there for 3 years, just having moved to Rockford in late July). While definitely not the southside of Chicago, Kankakee does have some war-zone neighborhoods, relatively high unemployment, and corrupt politicians (G Ryan hails from Kankakee). However, unlike Chicago there are not daily and weekly shootings and little traffic congestion. Housing market is depressed and foreclosures not uncommon. It does boast a nationally recognize hospital (Riverside, which is associated with Rush) so has good healthcare. Similar to Chicago, you have good areas and bad areas interspersed. Rents are cheap (1 BR/1 Bath, 800 SF for $600 is not uncommon), decent to very good recreational areas, and decent shopping. But a decently maintained strip type mall anchored by a major Grocery is over 50% vacant and has been for years. North Kankakee (again neighborhood dependent) can be good, especially close to Bourbonais and Bradley. Transportation is good, I-57 runs along east edge of town, and US Hwy 45 runs thru town. There is public bus service. Utilities run about what Chicago does and gas prices are cheaper (somewhat). Utilities are being improved but the infrastructure is old. I-57 is being widened to 3 lanes north of town. Commute to Downtown Chicago for Kankakee would be about 1 hour. Kankakee County is NOT part of the Metro area so taxes are somewhat lower. The proposed Airport will affect Kankakee if it is ever built (only about 14 miles south of proposed site and Kankakee/Bradley/Bourbonais is the only real populated area to the south)

Hope this gives you information on the South Sub-Suburbs of Chicago.