Building a new home near the South Side of Chicago could cost $2.5M per house

A construction worker and his wife are looking at purchasing a new house on the South Street SE block in Chicago, but they’ll need $2,500 per square foot to get it done.

“It’s going to cost us more to get this done than it would have cost me to get a house built,” said Lisa Dolan.

The couple’s goal is to move into a house near the new Chicago Riverwalk.

“It’s been a long time since we’ve lived here,” said Dolan, “we’ve been in and out of houses.”

The construction of the project began in May. 

They hope to have the new house completed in early 2019, which is when they expect to sell it.

“We’ll probably be able to sell the house and still have a nice vacation home in the Chicago area,” said Melissa Dolan as she walked by the new home.

“I want to go to the river,” said her husband. 

The couple is the proud owners of a former Chicago Public School home.

“We’re just a little bit sad that we couldn’t buy that house,” said Michele Dolan about the house.