If a person wants to live in a city with a better transportation facility, then Chicago is a perfect city to live in. As we already know, Chicago is the third-largest city in the U.S, it is the ideal city for those people who want to live in world-class metropolitan areas for better living.
Affordable living costs and reliable public transit gives Chicago an advantage over other major cities. The city of Chicago is one of the most financially strong parts of the U.S which consistently takes the 2nd position in central business in the United States.
Chicago is offering some great job opportunities so that more people are choosing to move to this city. Based on the U.S. News & World Report in 2022, Chicago is one of the best places for living and retirement. For permanently moving on to Chicago building a house is a better option. In this article, you will all about the house building cost in Chicago.
How Much Does it Cost to Build a House in Chicago?
According to estimates for 2022, the average cost of building a house in Chicago is about $250 to $440 per square foot. For example, if you want to build a 2000-square-foot house in Chicago, Illinois then you have to spend $500,000 to $880,000.
What is the approximate time to complete the house? Well, most houses take 6 to 7 months to complete, but if you have enough money, you can finish a house in Chicago within 4 to 6 months.
Depending on factors like locations, labor cost, interior, exterior, and other factors the cost may increase. Complex custom-made home projects are more expensive to build in Chicago and can go as high as $400 to $700 per square foot.
Chicago House Building Cost Summary
A detailed cost overview of constructing a house in Chicago in 2022 is given in the following section:
|Average Per Sq Ft Cost||$250-$700|
|Land Price Per Acre||$670,000|
|4 Bedroom Home||$475,000-$1,000,000|
|6500 Square Foot House||$1,625,000-$2,860,000|
Complex modern home projects are more expensive to build in Chicago and can go as high as $550 per square foot. An average cost to build a house in the Chicago area can be $345+ per square foot plus local taxes.
The cost includes soft costs and hard costs or the construction works. You will need a builder to build your dream house. A builder also charges 7% to 20% on top of all costs for your house construction.
Per Square Foot (sq ft) House Construction Cost in Chicago 2022
The following is a summary of the cost of different sizes of houses in Chicago in 2022 for different sizes of houses:
|Home Size||Average Cost||Maximum Cost||Minimum Cost|
|800 sq ft||$276,000||$352,000||$200,000|
|1000 sq ft||$345,000||$440,000||$250,000|
|1200 sq ft||$414,000||$528,000||$300,000|
|1500 sq ft||$517,500||$660,000||$375,000|
|2000 sq ft||$690,000||$880,000||$500,000|
|2500 sq ft||$862,500||$1,100,000||$625,000|
|3000 sq ft||$1,035,000||$1,320,000||$750,000|
|3500 sq ft||$1,207,500||$1,540,000||$875,000|
|4000 sq ft||$1,380,000||$1,760,000||$1,000,000|
|4500 sq ft||$1,552,500||$1,980,000||$1,125,000|
|5000 sq ft||$1,725,000||$2,200,000||$1,250,000|
|5500 sq ft||$1,897,500||$2,420,000||$1,375,000|
|6000 sq ft||$2,070,000||$2,640,000||$1,500,000|
Final Cost breakdown of various house types based on construction quality in Chicago, Illinois
On the basis of the construction, you will find three types of homes. There are three sorts of homes to choose from based on the structure of the building. Standard, premium, and luxury residences all fall within this category.
Depending on your home’s layout and specific requirements, the price can vary greatly. The following are the price of those homes in Chicago 2022:
|Type of House||Average Per Square Foot|
|Super Standard Homes||$300-$450|
|Super Premium Homes||$450-$550|
|Super Luxury Homes||$550-$700+|
How Much Time Do You Need to Build The House in Chicago?
When building a new custom home in Chicago, a builder will need more than a year, and perhaps even two years. In reality, it is dependent on the design and complexity of the project in question.
Approximately 30% of projects are completed within 5 to 6 months, 40% of projects are completed within 9 to 10 months, and the remaining 30% of projects are completed within 10 to 12 months.
3 Major Cost Factors to Consider for Home Building Costs in Chicago 2022
There are so many costs which you need to complete to build the house:
- Soft Cost – Fees, Permits, and other miscellaneous fees.
- Appliances Cost.
- Hard Cost – Material Cost, Labor Cost, Foundation Cost, etc.
1. Soft Costs
Soft costs can include the entire cost of land, building permits, and other architectural expenses, among other things in Chicago.
Soft cost estimation is provided in the following table as a percentage of total cost:
|Type of Cost||Price Range|
|Land Cost||$170-$245+ per square foot|
# Land Cost in Chicago
The average cost of land is between $170 and $245 per square foot in Chicago. There is one aspect that has a significant impact on the price of a piece of property, and that is the location and neighborhood.
According to the Chicago Tribune, you should set aside 20 to 25 percent of your entire budget to cover the cost of purchasing the land and any associated fees and taxes. By 2022, the average price per acre in Chicago will be just $670,000.
# House Permit Cost
The Chicago City Government permit files state a $75 monthly price with a deposit of $350. There are other fees you have to give to the authority. It can be varied because of the stories of your house.
If you are going to build a four stories house then you will need to pay more than a house with three stories. It can go up to $3,500.
# Architecture Cost in 2022
The average cost for the architects to draw your dream house is about $2,000 to $50,000 which can be higher than about $99,000 for your complete house design and architectural services in Chicago.
For better understanding and better architectural design, architecture is very much needed in house building projects. Hiring a famous Architecture or unique design for your home will cost you more.
2. Hard Costs in Chicago
Hard costs are divided among other costs which are shown in the table:
|Type of Cost||Total Cost|
|Exterior Cost||$2.60-$4.60 per sq ft|
|Foundation Cost||$30-$50 per sq ft|
|Labor Cost||$27-$65 for hourly work|
|Interior Designer Cost||$170-$255|
|Average Material Cost||$1,45,000-$1,65,000|
# Labor Cost
According to the U.S. Bureau of Labor Statistics report, the average labor cost is slightly higher than the nationwide cost. The average labor cost in Chicago will be 27.02 in 2022.
Labor costs can vary significantly because of the area/location, Demand of the electricians, Materials used, Plan of the house, etc.
Labor costs can be around $45 to $80 per hour depending on the workload of the total construction. The average labor price for a 2,000 square foot in Chicago should cost between $95,000 and $150,000.
# Material Cost 2022
As you are aware, material costs account for half of the total building costs. In Chicago, the material cost to build a single-family home is $130,000 to $210,000 for current years.
Materials comprise a wide range of items such as windows, doors, flooring, framework, roofing, lumber, insulation, and drywall among others.
Total material costs are shown in the table regarding the construction of your dream house in Chicago, IL:
|Total Material Cost||Average Cost|
|Framing Cost||$6-$25 per sq ft|
|Insulation & Drywalls||$18-$27 per sq ft|
|Windows Installation||$20-$32+ per sq ft|
# Foundation Cost in Chicago
Based on the style and size of the house, the cost of the foundation varies. The typical cost of a concrete foundation in Chicago ranges from $9,900 to $80,000 in recent years.
It totally depends on the size and whether you want to install a deep or shallow foundation. You can also use the concrete slab foundation for your dream house because it is cost-effective.
Most of the time, the cost of the concrete slab foundation is between $5,000 and $25,000. Again, you can use the stem wall foundation for the house. A stem wall foundation installation cost is around $11,000 to $43,000 in 2022.
# Exterior Cost
Exterior Costs are as important as building your dream home that fulfills all your needs and personal desires, the exterior finishes can change the overall look of your house. It increases the total value of the house. The cost to paint the exterior of the house in Chicago ranges from $2.50 to $3.50 per square foot.
The average Exterior finishing costs in Chicago can be around $45,000 to $120,000 for 2022. The costs include the exterior walls, roofing costs, windows, and doors. The exterior painting cost for a 3000 ft house ranges from $7,500 to $10,500.
# Interior Cost in Chicago
Most interior designers can charge you on the basis of hourly work. But sometimes interior designers can charge an average of $180 to $350 for basic consultation regarding the construction of your house.
Interior finishing costs you around $70,000 to $150,000 but it can run much higher if the designs are complex. The expense of interior design is high because it adds the personal touches that turn a property into the home of your dreams.
Some major interior costs are shown below which can give a new definition to your house:
|Total Interior Cost||Cost Range|
|Drywall Installation||$15-$22 per sheet|
|Lighting Fixture Expenses||$210-$4,500+|
3. Some Major Systems Installation Cost
Installing significant systems is crucial to the safety and efficiency of your home. It improves the indoor environment’s comfort and thermal regulation. The plumbing, electrical, and HVAC systems are the three major systems in your house.
You should avoid cost-cutting measures in this instance. Costs vary depending on the size and type of systems being installed.
As stated in the table, the expenses of major system installation for a 2000-square-foot house in Chicago are as follows:
|Professional Plumbing Cost||$1,200-$4,300|
|Average HVAC Cost||$5,000-$24,000|
|Total Electrical Cost||$8,500-$28,000|
How Much Does it Cost to Build in the Different Areas of Chicago?
We already know how different cities and states have cost variations when it comes to building a house. The answer to this question depends on which area are you talking about.
A contractor needs to know which area you want to use for the construction. If you want to build your house closer to downtown Chicago, then the project cost may you up to 20% to 28% more for the same house in the Chicago suburbs.
Additional House Building Costs in Chicago 2022
There will be some other additional costs which you can easily face during the construction. First, you’ll need extra costs for land preparation and floor plan.
You’ll need to increase your budget if you want some extra room, or if you’re going to build an attic or basement. Any extra room will require some materials to build. It will increase the construction cost.
Besides that, there are some other expenses which you will face during the construction of your house. They are – property taxes, inspection fees, and permit costs for the building.
4 Greatest Factors That Can Affect the Total Costs of Your House in Chicago
A variety of factors directly affect construction costs. We will briefly discuss these factors here:
- Materials: The material used to construct a structure denotes its structural existence. It displays the presence of aesthetic sense in a design and hence establishes the structure’s practicability. The materials required for the building are entirely dependent on the quality and budget. There are a lot of pricey materials here. So, if you want a luxurious home, go for the more expensive options.
- The season for Construction: The costs can vary if you want to build your house either in the rainy season or if you want to build the house in spring. But the ideal time for home construction starts in spring and ends in fall. If you chose the rainy season, not only does it have the potential to damage all of the raw materials on a site, but it also puts the workers’ safety in danger. So the overall result is increasing in cost.
- Foundation Cost: As in this article, we have already talked about different types of foundations – The cost can be different if you want to use a concrete foundation or a concrete slab foundation.
- Size of the house/number of stories: The cost can vary from our estimation if you want to have a bigger house for your family. Or if you want to add more stories to your house then it will create some additional costs. So, you will need to organize your budget first.
Top 7 Tips to Reduce the Costs of Building Your House in Chicago 2022
An entirely new house is costly to build. It could be one of the major financial commitments of your life. The choices you make throughout the design and construction of your new home will have a significant impact on the final cost.
Here are some tips to save money in an effective way.
- Reduce the square footage of your house. It can cut costs on a total basis.
- If you want to build the house by a constructor then it will cost you a lot. But if you can build the house by yourself then it will save a lot of money.
- When you want to buy the materials then you need to buy them from one supplier. It will help you to get some discounts. Try to buy from local suppliers.
- Make your budget wisely. If you have a proper budget to execute, it will help you to save a lot of money.
- Build the appropriate garage for your personal car. If you don’t need it, then don’t build a big garage which can hold 3 cars.
- A simple roof can save you money. So, you need to have a simple roof for your house.
- Avoid so many changes when the construction work is already started.
Some most common questions asked about (Chicago home construction): FAQs
How long does it take to get the permit for a house in Chicago?
Building permits in Chicago need some time because they check everything about you and the land. Most of the time you can get in in 8 to 10 months. If there is some issue that occurs they take 3 or 4 months to give the permits.
How much does it cost to build a 1500 sq ft house in Chicago?
Chicago serves as a regional, national, and international transportation and logistics hub for manufacturing, corporate and financial services, and transportation and logistics. A 1500-square foot property in Chicago can cost between $375,000 and $660,000.
How much does it cost to build a 3-bedroom house in Chicago?
The size of a 3-bedroom house is often a source of perplexity for prospective homeowners. For a house with three bedrooms, the typical US square footage is roughly 1,300 square feet. A 3-bedroom may cost between $325,000 to $580,000.
How high can you build your garage in Chicago?
You can have 16 feet in height when you want to build your own garage in Chicago.
What is the area code of Chicago?
Chicago, Illinois is in the 312, 773, and 708 area codes.
Conclusion on House Building Cost in Chicago 2022
Chicago’s slogan, “Urbs in Horto,” translates to “City in a Garden,” and it’s a great place to call home. The safest long-term investment you can make is in a Chicago-area property. In Chicago, the average cost of constructing homes ranges from $240 to $540 per square foot in 2022.
The article is chock-full of information about the Chicago house building cost breakdown. Stay with us to discover more about this type of house building information in Wisconsin, Michigan, Ohio, Hawaii, Texas, and Colorado. Thank you and have a good day.
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