Demo Costs?

[Heights007]

Hi all,

This is my first post here. I'm about to close on my first property, here inside the loop. There's a structure on the property that the city condemned. I plan to tear it down and build later, probably a few years down the road after I rebuild my savings.

The structure is a frame house, a little over 900 square feet, sitting on pier and beam. There's also a small concrete porch.

A few questions: What should I expect in demo costs? Would it be more prudent to wait until later to tear it down, when the market becomes a little cooler, and there's less demand for demolition contractors? Also, can the city make me tear it down before then, or fine me if I don't? I certainly don't plan on moving into the structure.

I appreciate your help. Thanks in advance!