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.
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.
Americorp Real Estate
Brokers Associate, e-PRO