Everyone is looking for a good deal. That would definitely be the case for the home inspection in Chicago, Illinois. I received a call to inspect a property in Garfield Park. This a community south of Humboldt Park and west of Ukrainian Village. There are definitely properties to be had for that are way below the market value. The problem is a majority of these properties have been abandoned by real estate investors thinking that the market didn’t have a ceiling. They are mostly bank owned properties that can be purchased for under 50% of what they were selling for 2 years ago. That was the case at the home inspection in Chicago.
The property was a row home that is 2 stories tall with a flat roof. It has 3 bedrooms up with 1.5 baths total. I could tell the property was being rehabbed and it seems that they just up and left. Their seemed to be an amateur tuck-point job that was started as well. Issues with the front steps was evident by the pulling of the concrete slab. The next part was troublesome to say the least. The roof was 32′ up so a 40′ ladder was needed to inspect this home. As soon as I started to walk on this flat roof , I told my client to get ready to start spending money. The flat roof was held together by spit and duct tape. Basically, I didn’t have a clue how water wasn’t damaging the building envelope of the home inspection in Chicago. It seems that all the roofs connected to this row house in Garfield Park were all dilapidated. I called a roofing contractor because my client wanted “the bottom line” figures of the roofing and all the other inspection issues. By the time we finished the exterior of the Chicago home inspection, we were already at $17,000.00 in repair costs.
We went in and I used a Fluke thermal imager along with a Tramex moisture meter to find that there was water damage from the roof. All the water entry would be terminated by installing a new roof. As we inspected the basement of the Garfield Park home, I found that the furnace has been stolen by vandals and the plumbing would have to updated from galvanize to copper piping. The repair totals for the home in Chicago’s Garfield Park was $31,000.00 to just move in.
As you can see there might be a reason why a foreclosure is almost free. If you are buying a home or building that is in foreclosure and have questions about it’s integrity contact us for help at~ www.pinnaclepropertyinspection.com
Please leave a comment or a question about your property we could help you with. Thanks~ Jim Kolke