Eric Rojas, Chicago Real Estate Broker

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Thursday, October 08, 2009

Death is not an option: vintage conversion condo or new construction condo in Lakeview?

All things being equal.. number of beds, baths, parking etc... What do prefer in general?

A vintage conversion condo?

Or a new construction condo?


Michael S Messinger said...

all things being equal, i think a building that has stood the test of time beats new construction. The vintage building just looks better and odds are good that shortcuts were not taken to meet budget cuts as much as in new construction.

Eric Rojas said...

That is the correct answer! In all seriousness, there are a lot of terrible conversion chop jobs out there, but in any given price-range, a well done conversion on an existing building from 1900-1930s is tops in my book.
The new construction that looks really good usually comes at quite a premium over a comparable conversion property.

Mark said...

It is the correct answer, BUT... Prepare to make unexpected investments. You may have to invest in windows, roof, tuckpointing, termite extermination, electrical upgrades both incoming and to the outlets, replacing galvanized pipes with copper, furnace, AC, etc BEFORE you get to all of the fun stuff you see on HGTV...

Eric Rojas said...

Mark, all things being equal, most of that has been done. However, you really have to check it out. Many, many buildings I have come across that have been converted have roof and lintel issue that cost big money in only a few years done the road.