By now you've probably got all the answers you could possibly need or want but just incase...
As someone pointed out, renovation lending is about what the property WILL be, not what it is now. Outside of tearing down the house and rebuilding from scratch, you can do just about anything that's permissable under the umbrella of residential lending (as long as the city will give you a permit for it!!). There are loans available for rehab amounts both less than and greater than 35k. Most lenders can only do the streamline (less than 35k in rehab) but don't limit yourself there if you desire more work.
Since you didn't state whether this was for owner-occupied or investment, I'll touch on that as well. There are also products available for investment property rehab, both for single family, and multi-family AND condo renovation (interior only). There are quite a few high-rises that are not FHA approved that this product could be used for as well (both owner-occupied and non-owner-occupied).
I have over sixty posts mostly about Renovation lending in general and a published article on the subject. If you're still looking, feel free to reach out to me, I'm just down the street from you (my office is on North avenue, a block west of Sedgwick), I see you're in/near Wicker Park.
My contact info can be found in my profile.