Lot cost = $300,000
At $160-170/sf, 3500sf home = $560,000-$595,000
Total Cost around $860,000-$895,000 to build.
Existing Home Purchase:
Active single family homes in West Town (south of Division, north of Grand, east of Western) as follows: $600,000-$800,000 will get you a gut rehab building or new construction on a short lot less than 3100sf, $850,000-$950,000 will get you newer construction, full lot, 4000+ sf.
Unless you are really dead set on building your home, you can usually get the most out of this market buying an existing home. I have a background in construction and development in the city, I would love to help out with your search. My contact info is below.
RpV Realty and Development
Consult with my team as our firm works with majority of the Premier developers in Chicago.
Sohail A. Salahuddin | Group Founder
Innovative Property Consultants Group | Sales and Leasing
Jameson Sothebyâ€™s International Realty
425 W. North Ave. | Chicago, IL 60610 â€¨
O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030
"Locally Known, Globally Recognized"
The issue with building your own home is that on the plus side you get what you want but it's an enormous time commitment and lots of headaches. You would want to use a designer to keep you from doing something dumb also.