All Forum Posts by: Account Closed

@Federico Gutierrez yes, water leakage in all 3 units. My realtor advised that the issues are not major and that most of the issues are due to lack of upkeep on the property. We are now requesting a credit in the amount of what it would cost to do the repairs. Thanks for the feedback! 

Greetings! I am currently in contingent status on a 3-unit multi family property in Chicago, IL. All units are occupied. The inspection was just completed a few days ago and the report is of 150 pages long. After reviewing the report, I am now second guessing this purchase. To name a few issues indicated; units have a known history of water management issues related to workmanship detailing, soft/weak spots in the wood laminate flooring, damaged vent caps on the roof, water leakage in all 3 of the units, condensation observed dripping from main water service, with staining. Again, that’s just TO NAME A VERY FEW. On the other hand, the units are really nice and spacious, each unit is about 1300 sq ft. The building is a nice brick. The neighborhood falls under Class C category. There is tons of room to add value. Due to numerous of needed repairs, I’m not sure about this one being my very first rental property. Would love to receive your advice! Thanks.