we are thinking of converting a 3-flat into a single family home. how much should we estimate per square footage for a complete rehab?

Asked by A&kangel, 60613 Sat May 28, 2011

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Accurate Ins…, Other Pro, Chicago, IL
Sun May 29, 2011
We converted a 3 flat to an SFR a number of years ago, came in around $300K. Forget about square foot price for rehab it doesn't really work well. There are too many variables in rehab. Think more in terms of what each level will cost. The main floor with a kitchen, bath, nice floors etc can easily run a $100K. An upper floor that only has existing bedrooms, minor to moderate modifications and a bath can be 1/2 that.
It all depends on your finishes. Crappy bath, $3-5K. Nice bath minimum 10K. Blah kitchen 10K or less. Really nice kitchen like on TV min $30-40K.
You may want to consider construction phase inspections to make sure your contractor is doing things right.
Good luck
Web Reference:  http://www.aic-chicago.com
1 vote
Carmen Brode…, Agent, Scottsdale, AZ
Sat May 28, 2011
That is almost impossible to answer with such little information. I would recommend getting 3 quotes from licensed contractors.
1 vote
Agnes Tabor, Agent, Naples, FL
Tue Aug 23, 2011
Have you considered getting a few estimates from recommended folks you know; sure beats guessing? After all, what worked for one person may not work for you.

Good Luck to you from Naples Florida.
0 votes
Seth Captain, Agent, Chicago, IL
Mon Jun 6, 2011
If money is an issue, which as cliche as it sounds, isn't for everybody, then consider rehabbing in stages so you can use rents to pay for your rehab. While not satisfying the urge to get it all done at once, it will let you bring in additional money that you would be forsaking, and the discount a contractor will give you to do all the work at once versus in pieces is a lot less than the yearly rent you will take in.

In addition, you may find you actually enjoy having at least one tenant. It provides mortgage security and continues to keep Chicago a vibrant city by assuring there are renting options available in all neighborhoods.
0 votes
Matt Laricy, Agent, Chicago, IL
Sun May 29, 2011
Way to hard to just throw a number out there without know a lot more about the place. Call three general contractors (GCs) and compare prices. I have a few I could recommend.

Matt Laricy
Americorp Real Estate
Brokers Associate, e-PRO
mlaricy@americorpre.com
708-250-2696
Web Reference:  http://AmericorpRe.com
0 votes
sean oneill, Agent, Chicago, IL
Sat May 28, 2011
If you would like a bid Iam a GC and can show you the work we have done .Call me at 312 656 3380.

Sean
0 votes
Joe Schiller, Agent, Chicago, IL
Sat May 28, 2011
60613 multi unit to SFR .. about $45 foot plus exterior work
Web Reference:  http://www.joeschiller.net
0 votes
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