What to Watch For, with condos:
A gut-rehab should mean that everything is new, including the kitchen and bath. Walls and room sizes may have been adjusted to allow for a second bath, in-unit laundry, new heat/AC, etc. The price may be higher, but—theoretically—everything from the mechanicals to the finishes is brand new and wonderful.
A mid-level conversion describes a project where some amount of updating did occur but less than a full gut rehab. Mid-level conversions are lower in price and often have a VINTAGE look— perhaps ideal if on a tight budget and in the property inspection we can verify that all the mechanicals were updated.
We never recommend buying a minimal conversion where little was done other than to paint things; eventually all the older mechanicals will have to be cared for—at the owners’ expense!
And this is just the start of what you’ll find at www.Chicagoland2to4Flats.info!!!
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