Whether you hire me or someone else, make sure you hire a good home inspector.
There are critical issues to consider and major questions to ask when considering buying into a CMU condo building. It is important to know the issues and understand the potential pitfalls involved with these buildings.
Gecan Realty Group
26 years selling in Wicker Pk
Without knowing the specific parcel you refer to, it is difficult to offer anything more than a cursory overview - so here goes.
Construction within the past five or so years have integrated specifications that call for porous drain tiles on the interior of the lower level (below the floor) and exterior to the building's footing. This is placed in a gravel mass to enable soak through and run off. To further facilitate appropriate handling of too much water newer buildings will have ejectors and sump pumps. So long as these items are present, you should be good to go with relatively little to worry about as it regards flooding.
As with any real estate purchase, you will be well-served by having in your corner the best possible advocates that include a well-informed real estate professional, a professional and experienced home inspector, a good attorney and a credible and intelligent lender.
There's a ton of inventory in Wicker Park, having a good realtor on your side will enable you to gain much needed insights to make the best possible decision.
Feel free to reach out to me if you would like assistance - 773.848.9241.
The Real Estate Lounge Chicago with @properties
I've lived in the Wicker Park neighborhood for the past 5 years and personally have not experienced any flooding during that time. However, individual streets can experience different conditions during heavy rain not only in Wwicker Park but any part of the city. I would check the disclosures for any water issues, ask the listing agent for any history of flooding in the unit and also ask if the unit has drain tile connected to a sump pump. Newer duplex down units have such systems in place but newer conversions of older buildings often do not.
Best of luck.
Ken Dooley, 312 305 4919 cell
Conlon: A Real Estate Company