Estimate renovation costs by room and scope using Illinois market context. The median home price in Illinois is $286,000. Add rooms, choose the rehab level, and get an instant cost breakdown with contingency buffer.
Avg Cap Rate
6.5%
Median Price
$286K
Property Tax
1.79%
Vacancy Rate
6.5%
Local Factors
Total Rehab Cost
$28,187
What does this mean?
Rehab costs under 15% of ARV suggest a cosmetic project — paint, flooring, fixtures. These deals are lower risk and faster to execute, ideal for newer investors.
Cost by Room
Accurate rehab budgeting is the difference between a profitable flip and a money pit. Start by walking the property room by room and categorizing each area into one of three rehab levels:
Cosmetic
Paint, flooring, fixtures, hardware. The bones are good — you're just updating the look. Typically $10–25/sqft.
Moderate
New cabinets, countertops, tile work, some drywall. May include partial systems updates. Typically $30–55/sqft.
Full Gut
Down to the studs. New layout, all new systems, structural changes. Typically $60–100+/sqft.
Always add contingency. 15% is standard for cosmetic rehabs, 20% for moderate, and 25%+ for gut jobs. You will find surprises — the question is how expensive they are.
Pro tip: Get contractor bids before finalizing your offer. This calculator gives you a ballpark for quick deal analysis, but a detailed scope of work with line-item bids is essential before closing.
Keep running the numbers
Budget set for Illinois. Now make sure the deal still works after rehab.
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