All Forum Posts by: Ronan M.

Hey Chicago Northsiders.

I have a large 2B/1B (5 Room) apt in Chicago 60618 that needs a complete demo gut job. I need the apt down to the studs, ceilings out, kitchen out, bathroom out...the works. 

I have my usual crew of guys (electrician/plumbers etc) to put this back together I just don't have the crew to do the initial demo. Anyone have any recommendations of folks you specialize in demo.

If I need a permit for this I want a permit and the necessary permits if needed for the dumpster etc.

Thanks in advance.

Not sure if this is advice...but new HVAC to include AC for a rental priced only at $750 to $800 seems odd. If you are going to upgrade these units to include these (non essential) but extra amenities/conveniences would you not be hoping for a higher rent ?  Otherwise why bother with the additional AC expense. Rent at $750 and if they want AC they can buy window units.

Adding AC as you know is not cheap and most older buildings in Chicago don't have central AC so adding it is adding real value that should come with a higher rent. Just curious to know your thought process.

The big condo buildings and high rises all use the commercial Speed Queen type. I assume because they hold up longer to the abuse. Side by side they do seems much better build that a Whirlpool. I am not a fan of Whirlpool for anything....not even a toaster if they made one.  I just bought 3 new Speed Queens washers from ABT and to hedge my bets bought 3 used Speed Queen dryers ($350 each) from L&L Appliances who have 3 Chicago locations I think.  New or used I got 3 mts warranty.

Only had them a month so too early to report any issues yet.

Hope this helps.

@Frank S.

Its early days yet as I only have the Southside laundry operational for 2 weeks. In those 2 weeks we have collected $177.  That's with 2 washers and 2 dryers in a 15 unit building. $1.50 wash $1.00 dry.

Each machine holds about $150 in quarters. I plan to empty them once a week.

I think our early earnings have been high because the tenants knew the laundry was coming so they held off on going out to do their washing. Then they washed like crazy once we were up and running.

Cost was:

New Speedqueen Commercial washer $1068 each that's with the tax ($974 without tax)

Used Speedqueen Commercial dryers $400 each. I forget how much they were new..about double the price I think.

Surprisingly both the new and used come with 3 mts warranty. That's not great for a new machine but ok for a used machine.

If I had to do something over I would probably not be a cheapo and spring for the Speedqueen FRONT load washer instead of the top load. They run about $1600 each but I prefer front loaders as they use less water and give a better wash.  Next time I might just bite the bullet and get the front loaders.

But so far so good. Tenants are happy. Let's hope the revenue can cover the additional water/gas and electric. I won't retire on this laundry revenue but as long as it pays for itself and reduces tenant turnover I am happy.

It is a high risk area that would need VERY good local management. Its also WAY over priced for the area.

@Frank S.

I went with coin op.

To hedge my bets I bought the washers new (3) and the dryers used (3). All SpeedQueen Commercial as I hear they hold up much better than Whirlpool or Maytag which I believe as I am not a fan of either of those 2 brands even for domestic appliances.

Went with $1.50 Wash $1.00 Dry on the southside and $2.50 Wash and $1.00 Dry northside...mostly because the plumbing and electric work needed at the northside location was much more expensive. I will be years trying to recoup the investment but it enhances the building overall and will keep tenants happier I guess.

Thanks for the input guys.

@Nancy Curran  I was throwing a bit of humor in there with my $5 suggestion.

"you will look like a freaky cash obsessed landlord" ...don't tenants think that's what we are anyway...with or without laundry.

@Frank S.  this is not in unit laundry where the tenant pays for the gas and electric within their unit. This is shared basement laundry. I cant do free..with or without a rent increase. Then they will have no problem washing 2 t-shirts at a time on my dime for electric (washer), gas (drier) and the water. Plus some have small kids...so they will wash everyday. So on top of the cost to run the machines -  the machines will get thrashed.

I rented my own basement few years ago to a kid back from service from Afgan. Young single guy, very nice kid. I told him go ahead use my laundry whenever you want....thinking ah he's a 21 year old...he will only wash once a month when he cant find anything to wear or he has a date.

He washed and dried EVERY day. Soon as he came home from work...Bam...washer went on. And he did not work in a coal mine...he was a waiter or something. My washer and dryer are both electric. My bill went sky high.   

Then one day I heard the dryer banging from half a block away.  He had 3 pairs of sneakers in there and a belt with a metal buckle. Who washes a belt ??

Pretty sure if it was even 2 bucks a wash and a buck to dry he would not be going at it every day.

No way I said...never again FREE.  

I will follow up on my own post just to show I am not completely clueless !!

I currently have no Northside locations with laundry but on the Southside I do. They pay $1.50 wash and $1.00 dry.

Just wondering if more can be charged for this on the Northside. But how much is too much ?  Seems to me that a $5 dollar wash is still a better alternative than having get in the car, lose your parking spot, find more parking etc. And that's in summer !!   Add winter in the mix and now your talking shovels, patio chair to keep your parking space and all that's stuff.

@Brie Schmidt

Got a name I should ask for ?

Ordered my new laundry machines this week. Tenants are very excited.

For the folks that have buildings on the Northside of Chicago with laundry facilities for tenants what do you charge for a wash and a dry ?

I have not been to a Laundry place in maybe 20yrs. No idea what they cost.