Depending on where the property is in relation to GP, be really careful about the historical review board & NRB that will need to see the drawings showing what is proposed for construction. Also, I hope you are working with a HUD 203k Consultant that has experience in this part of town, and this type of house. We have 7 active 203k's in Grant Park right now with a couple more in permitting, and can offer some good advice on what lies ahead. Importantly, please carefully choose a Lender who has a history of CLOSING these loans ~ These reno's are unique, and you will need a good team behind you.
Chris Colvin - Mon Jun 20, 2011