All Forum Posts by: Erica P.

Inventory for small multi units is very low right now in north Chicago.  Prices in Logan Square,  Avondale areas have really skyrocketed recently.  I would recommend looking at Jefferson Park, Mayfair, Portage Park. Don't be afraid to look at/ lowball on properties listed over your price range.  Sellers may be willing to negotiate more than you think. 

Regarding the house hack method,  depending on what kind of work the building needs,  I would recommend hacking the basement/ lowest floor unit first.  If the building needs plumbing/ electrical updates,  all the guts of those projects will likely be in the basement.  I am in the process of doing this now in Jefferson Park. 

A lot of buildings in Chicago are quite old, which is not necessarily a bad thing, but be on the lookout for things such as knob and tube electrical wiring, radiant heat, and the possibility of asbestos tiles particularly in the basement. Also check on the legality of the second unit. Chicago has a great public transit system so check for walking distance to cta/metra, and nearby parks.

Chicago will pick up garbage for up to 4 unit buildings. 5+ unit buildings must hire a private company. 

https://www.cityofchicago.org/city/en/depts/fin/pr...

garbage fee is new this year and is $9.50 per unit per month.