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Abigail, Home Buyer in Chicago, IL

How much does it cost to finish a two bedroom basement and a one bedroom attic?

Asked by Abigail, Chicago, IL Sun Mar 9, 2008

I know a lot of information is needed to answer this question precisely, but I'm just looking for a general idea before I start calling contractors. I'm buying a multi in Logan Square. The basement could be a comfortable 1000 sqft two bedroom, but it could definitely be dug out about two feet. There is no drywall. How much do you think it would cost for a very basic renovation to turn this into a rental unit? Nothing fancy.
Also the one bedroom attic should be finished as well. There is no drywall. It could be a cute 600 sqft one bedroom/studio. Same question. Basic kitchen, bathroom and lighting. Anything I'm forgetting about? I'm sure there's a ton. Just to reiterate, I'm only looking for general numbers and for basic renovations. I know I could get numbers all over the place. Thanks for any words of wisdom.

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Robbin Smith’s answer
Chicago is my hometown and I am there quite often for business. There is very strict code and you must get all permits on your work. I spent $30k finishing a basement on SF here in ATL. My sister on Chi Southside has a 3 Flat bldg and spent much more. The workmanship is allowing her to rent to quality tenants. There was a very good article recently on website :…
2 votes Thank Flag Link Sat Mar 29, 2008
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