Quote:
Originally Posted by mhays
It's more relevant for a 20-unit building close to transit.
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Oh yeah, totally.
4 - 5 story, 20 unit buildings on smallish lots become way cheaper if you eliminate dedicated parking.
In practice in Chicago, that really only works for rentals though, because the local condo market has a very strong bias for deeded parking, and developers will almost always choose to pay for dedicated parking (even when not required to do so) because the increased per unit sale cost will usually more than cover it, not to mention making it easier to sell the units in the first place.