Part II: Understanding what it takes to convert a Chicago 2 Flat into a Single Family Residence

Welcome Back to Understanding what it takes to convert a Chicago Two Flat into a Single Family Residence.  Here is Part II:

Back to Plumbing: Lack of water pressure has nothing to do with the galvanized piping shrinking inside. I have scoped umpteen homes and have yet to see a piece of galvanized clog inside but it has to do with the size of the water line. I cannot emphasize this enough. You can check with the City of Chicago Water Department to see what line is going from the street to the "B" box. Here's a hint: If the water line is on your side of the street, the cost is considerably less then should that main be on the other side of the street.
I'll continue this on the next post.

Kitchen cabinetry: Depending on Size and Quality: $6,000 all the way up to your hearts desire.

Granite countertops: You can go shopping for these yourself and get good deals from suppliers. I have a few names if you want them.

Doors: This is one of the most critical areas when it comes to resale down the road on your home.  SOLID CORE DOORS.. Don't cut corners here or with your door hardware. Everybody that has gone into a home that I have designed and overseen always, always checks those two things first. The doors and the hardware.

Windows: Energy efficient: Ones that pull the heat in during the winter (like the back double doors) and kicks the heat out during the summer time. Lower E-windows for the areas that don't take much sun and that is where you can save money.

Velux is the best skylight out there. No getting around it.

Gutters and downspouts: Love the guys on Western Avenue as they create seamless gutters - Lakefront supply. Your gutter size depends upon the pitch of your roofline as well as the placement so that the water doesn't shoot off the roof and miss the gutters but works in an efficient way so actually recycle your water and use it for gardening.  Learn to be green people.

Now, Costs for renovation: Refinishing hardwood floors, updating bathrooms, updating electrical outlets, possible new roof, replacing or not to replace trim work - all depends upon the finish - if natural - and in good shape - I wouldn't mess with. New kitchen, finished basement, new furnace/boiler (?), central air (?), painting

Again Size: up to 2,000 $150K (minimal) as this includes permits, plans, and a new furnace. You also will have to redo the stairs should they not be structurally safe and this is an area that you need to really watch was the cost to put in a new landing runs roughly (from start to quality finish - to mirror the home's character) about $5,000 up to $10,000. this all depends upon the width, the quality of the finish, etc. 

2,100 to 3,600 square feet  - you might as well do a total gut rehab with this type of square footage as those floor joists on the second floor are nasty.

No matter which way you choose, the most sure things that you will have to address are the waterline going into the house and the City of Chicago will nail you for it right away, electrical, and most importantly to me, the structural integrity of the property as well as the energy efficiency. Drainage is a big huge for me as well, but structural is major. I have seen a lot of secrets hidden under those ceilings and behind the walls. But when you know that there are no headers over windows or the doors and you wonder why you can feel the house shake when you close the front door? You're missing the headers and the structural for the span of today's style.

When Real Estate Agents advertise that a multi-unit is good for a "great single family conversion" it maybe because the house requires a lot of work because a floor is uneven, walls are not just straight yet or just because the bathrooms, kitchens, windows need replacing and there might be some serious tuckpointing which the seller might not have the funds and hence the term "great single family conversion" as number wise, the money put back into the home for a two flat might not yield a strong enough ROI and/or the rental will not be able to supplement/increase to support those improvements. 

The biggest surprise we had in two homes was that both sellers "hid" the cracked wood beam that supports the entire house! That being the case, one of the great things with a brick two unit is that they have really high ceilings and you could raise the height of the first floor to allow for more head room in the basement instead of excavation in the ground, which is costly.

Hope this helps. My Grandfather used to say, "Any man can build a home, but very few can rehab them." Be careful who you hire but more importantly, look at what you have to invest in the conversion and if you can't afford it all right now, then consider what you need to do know to insure the structural integrity of your home and take it from there.

It's all about the numbers and your goals.