All Forum Posts by: Jim B.

 Thanks for the input Bill.  If you don't mind me asking, how much did it end up costing you in total.  And, I guess, how much SHOULD it have costed you?

I'm about to go under contract for a home in the West Chicago Burbs and want to potentially add a bedroom to the unfinished basement, but I'm worried I may (probably) have to add an egress window in order for it to be legal, especially for a rental.

Does anybody have any input on this?  I know it varies a lot by state and even county or city, but wanted to know if anybody had experience, specifically in the Chicago area.  

Also, what would you estimate something like that would cost?  I'm thinking at least a couple thousand...

@KYLE Z. sent you a PM

 Good to see a fellow yooper on the boards!

Typically if a unit is currently rented and a new owner takes over the property, the tenant has the right to continue the lease through it's original terms.  At the end of the term, you could renew the lease or decide not to.

@David P. 

Just replied to you via email.

And for anybody else who comes across this posting - I am in no way representing the school as a real estate agent nor do I have any interest in whether or not these things sell besides a pat on the back.  I'm simply doing a favor for family who work within the district and getting word out to as many people as I can (and what better place than BP?).

That being said, as David referred to, the listing information that I was provided was not the updated version.  I am working to get the the newest versions of the reports, etc so that I can deliver them to anybody who is interested.

Until then, feel free to reach out to me and I can forward you information as it comes to me and also get you in touch with board members, superintendents, or anybody else involved in the sale of these schools!

Thanks for reading.

@David P. Did you get everything ok?

@Don Alberts     sent you a message

I have a full RFP (Request For Proposals) from the school district, please contact me with your email address and I will send it to you.  It contains all covenants, deed information, PINs, etc.

Like I said in the heading, there is NO SET SALE PRICE.

All bids are due on March 9th BY MAIL.

Buy them together or buy them separately, the school district is just trying to unload them at this point to the highest bidder.

This would be an amazing opportunity for an apartment complex and/or senior living facility as it has a full kitchen, gymnasium, elevators, etc.  Buildings are in good condition and well maintained, and were in use (still as a school) up until this year.

Thanks for looking!  Let me know if you have any questions.

@Brandon M. Couldn't agree more

Another bonus- If you can partner with a handful of other investors that you buy/list their properties for, you'll probably get repeat business if you treat them well and/or offer rebates, and you could easily get as much business as a "traditional" agent without as much work.  Investors know what they want, what they can afford, and aren't nearly as high maintenance as the newlywed couple who can't agree over how big the closet needs to be, or the backsplash in the kitchen 80 showings later...NO THANKS!