Lincoln Square: I was there when the fire took most of the insides of that two unit out. I was there when they took the lady, who had burns over her body from the fire. The Building was on the market back in 2006 and late 2007 for $540,000.
The comments were: "Great investment opportunity on a end lot in Lincoln Square, 30 x 125 lot, zoned Rs, Can be converted into a single family home. ...... First floor is getting a new kitchen & bath, refinished wood floors. ...."
The fire happened. There is serious damage to the property as I had a buyer who wanted to see the inside. Charbroiled wood. I told them that the property would require about $275,000 to $400,000 worth of work, depending upon what they wanted to do but there was structural and that requires an architect.
We saw the property when it was boarded up. and the comments said: "two Unit Investment Building is located on a great block. SUBSTANTIAL REPAIRS ARE NEEDED TO COMPLETE A PREVIOUS REHAB IN PROGRESS. DUE TO THE CONDITION, CONVENTIONAL REHAB LOANS OR CASH ONLY DEALS.
I'm a firm believer in the City of Chicago and the process for getting permits but the right permits. I've listed homes where the seller may not have pulled a permit and I've gone down to the City with them to get the permit for the replaced ductwork (in the basement), the new hot water tank, etc.
So a permit has been pulled: "Minor Plaster and Drywall Repair - no electrical, replace plumbing fixtures, and replace windows."
The City of Chicago has a Building Department to insure that things are done right! This house needs more than just minor plaster ....... It needs a whole new inside!
When you are looking to buy a home, you need to pull all the information under the Freedom of Information, pull the insurance records on the house, that'll tell you big time if any claims have been made, If the property had major rehab work, there should be plans and the owner should turn them over to you. If they don't, then they weren't quite frank with the City and you dont' want to buy a house that the City of Chicago was told the full story.
Maybe if the reports on fires from the Fire Department and the Insurance Companies forwarded their information over to the City of Chicago, that history would be on file. So when someone tried to pull a fast one on the City, they wouldn't be able to do it.
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