Chicago Two Flat To Three Flat?
I am looking at buying a two flat in Chicago that has a full unfinished basement. I am curious about the codes as far as converting it to a 3 flat via the basement. It has access from the outside to the basement but only one door. Do I need two? I know the question is Chicago specific but i think there are a few Chicago REIs here. Thanks jim
What neighborhood is it located in?
Yes you need two exits.
In addition you must come up to code on the parking ordinance which means that adding this one unit means you must provide 3 off-street parking spaces.
You also probably need a zoning variance.
Well it is actually in your neighborhood. Pretty close anyway. Its a two flat on Armitage just west of Western. Actually I havent even checked out the inside yet. I was more curious about the zoning laws and thought I might get a quick simple answer. Which you provided. I am looking to buy something in the Bucktown/ Logan Square area to fix up and rent out. It seems to me the prices are out of line compared to what you can get for rent. In other words no cash flow what so ever! I would like your opinion on this subject as well since I assume you are familiar with the area. I am looking for appreciation more than being a landlord so I could handle no cash flow for a few years. I think. Anyway I signed up for the meeting at your place next month and I am really looking forward to it. I am a total newbie but excited about learning. Thanks in advance for any response. Jim
i always prefered working with a local designer that could change things to fit my needs and the cost was not much higher. Having a real person to work with who also has knowledge of the local market is a lot better than an internet site.
On house features...build for your market and build what they want. Granite is getting fairly common around...you can even help set yourself apart on that by going for a different finish that the typical shiny gloss look...you can get honed, buffed, etc. We just put honed granite in our personal kitchen- wife is very happy! It looks almost like soap stone due to the color we picked.
I have a CAD program (Chief Architect) in which I do my own designs as well as modifying ones brought to me (legally owned) for a price.
Lately though, I have limited who I will modify plans for.
I find most e-plan websites are a waste......however my favorite without a doubt is Donald Gardner, followed by Frank Betz and then Larry Garnett.
My experience with many of the local architects is that they are high priced, lack details as well as having numerous dimensional errors. I detest having to spend hours adding up dimensional lines.
There are "home designers" which offer their services quite a bit cheaper, but you have to find one that truly understands building principles.
Upper end homes deserve upper end amenities........pure and simple.
I have put alot of extras in my lower and mid range models but have found that while customers love such upgrades, many are to cheap to pay for such. Lately we seldom build a spec that is less then 3000 sf.
NC_Yank
Build the house with the same features similar houses in the neighborhood have. If you market the home before it is done you can offer some upgrades for a additional charge if the buyer is requesting them.