Chicago Real Estate Education

Start-here fundamentals plus the full guide library—organized by how investors actually work deals.

Fundamentals (read first)

How to analyze a Chicago fix-and-flip

Analysis is not only price per square foot. Account for local taxes (often paid in arrears), winter utilities, permit buffers, and block-level variance.

70% rule with a Chicago twist: Max offer ≈ (ARV × 70%) − rehab is a teaching heuristic. In competitive pockets, experienced investors may underwrite tighter margins when data supports it—and walk when it does not.

Typical rehab scope bands (estimates only)

  • Cosmetic: roughly $25–$40 / sq ft
  • Standard systems + kitchen/bath: roughly $50–$75 / sq ft
  • Full gut / heavy structural: $100–$150+ / sq ft

Ballparks for early screening—not bids. Get contractor quotes.

Use the Chicago rehab checklist on every walkthrough.

Key risk factors

Block-by-block variance, illegal garden units, open violations, flood zones, and lead/asbestos in pre-1978 stock. Drive the block at different times and verify legal unit count.

Full guide library by topic

Permits, zoning & compliance

Primary vs spoke: process handbook first, then inspector relationships.

Acquisition & negotiation

Standard purchase negotiation vs distressed/REO are separate intents.

Staging, marketing & exits

Digital marketing is the primary online-exit guide; staging spokes support it.