Buying a Pro Built (in the 70's) Already finished Sound studio with Studio A and B

[Demonslave]

High slutz, So here is the deal........... a badass pro built in the seventies (1970) studio is up for lease here in chicago for 1600.00 a month, I used to ride by it on my bike as a kid and try and see what was going on through the tinted glass doors.... too tinted to see anything, It was inherited from the original owner by the current tenant. Anyways, I was driving by, (i always look at it when I do) and noticed the former owner took down his sign (which was a huge sign you cant miss it) so i contacted the landlord and he said he would lease it to me no prob even though he wanted to rip it all out and divide it up as normal spaces. It really is beautiful, (Im gonna cry when i go to c it tomorrow) wood everywhere completely sound proof, i mean you could run a CHAIN SAW in the live room and not hear it in the control room. I am a young guy and am deep in the rock scene here in town, the thing is, i just gutted my garage put heating air and ventilation in, a good sized vox booth and a nice sized drum room, its free (almost) but no where new or as beautiful as this place, and its really close to downtown (25 min) and has a studio B which i could sub (was used for mastering) Figure the place would cost by todays standards at least 50k to build!!! I will post some pics tomorrow, its 2400 sq feet, and 5 minuites from my home and really secure!!!!!!! tell me what to do!!! Ive got the gear: console tape machines protools hd, and i know i could get the bands....... Im exited happy and scared!!!!!!!

[Watty]

Go for it!

You'll regret it if you don't and it ends up an office or some other waste of the space. I used to go to a little purpose built studio 20 years ago and would dream of having a place like that of my own. 18 years later, I spoke to the owner who mentioned he was wanting out of the studio game. I immediately raised the cash and took the place off his hands. 2 years later I've got the reputation in the city as being the place to go to for fast and fat recordings. If the place is as cool as you suggest and you are as you say, deep in the scene (and you're good,) you WILL build up a reputation and clean up.

Figure out how much you need to bring in to cover the costs, find out if there is likely to be a strong demand for your services and if it looks good, DO IT!

[xj32]

Congrats man, this sounds exciting. I guess the bottom line is?

Can you afford $1600 in this economy for the term of the lease? Will you get enough clients to cover this? How?

That's $20,000 per year, just on rent. Not utilities, gear upgrades, repairs, or insurance.

If yes...go for it.

If not, can you find some partners? Investors?

Just some sobering things to think about.

Good luck, let us know and lets see some pics!

XJ

[ZenKen]

GO FOR IT!!!

I just moved out of a space in NYC in the Music Building that was built in like what you're describing, but in a half-assed way. Not totally soundproof, not great, but we used it to rehearse.

If my space was as nice as what you're describing, I would've kept it for myself.

Seems like you ought to.

You can do it.

You know you can.

[Demonslave]

Wow just those responses have made me feel better,I make like 50K a year with an industrial cleaning biz (did 140K last year) with the clients i have now, id like to sub the b room for at least 750 a month. there is a guy i know that has B type rooms or (production rooms) he rents for 1400.00 and they are all rented. I think i could have some huge parties (controlled not keggers) where i could bring in all the metal bands around here, I was thinking of charging 300 per day to start out, without engineer, that's not even a third of what everyone else charges, and anyways i want to make money off of producing, not recording (record sales = $) so this would cover rent and gear purchases and give me a sweeeeet space IN SPADES! 300 a day 5 days a week 6K a month 4000.00 profit, before taxes! I dont want to be in the business of recording i just want to use it as a tool!!!!!!!!let me know guys cmon' pump ME UP!!!!!!!!!!

[LimeMusic]

If you don't lease the space, I might! $1600 isn't that bad for Chicago, and how often does a well-built studio become available like that?! If you can pull in the business to cover the costs, do it! But, as I'm sure you know, it's tough here in Chicago because there are TONS of studios doing good recordings for good rates, so you'll have to really work hard to make your business stand out from all of the other places around here. $300 a day is good. I interned at a place here that charged $650 a day, and the recordings that came out of there were good but not special.
The only thing I have to say, and this is from being a partner at a studio for a few years:
Don't plan your budget based on having the place booked 5 days a week, because that's unlikely to happen for a while. Do the math based on having the place booked two days a week. If you can still sustain the rent/utilities/etc by having the place booked two or three days a week, then you should be great, but if you get excited (as I did) and do all of your planning based on what business COULD be as opposed to what business is LIKELY to be, then you'll get screwed. Just my very humble opinion. Good luck!

[TonyBelmont]

Follow your dream. Just be sure you can afford it before you weigh yourself down with a big monthly nut.

[Smithcok]

Awesome! I'd probably go for it - but before:

I'd calculate all the expenses (rent, utilities, insurance, HVAC, etc.), multiply it by 1.5-2, and then see if you can swing it with only 3-4 days booked a week.

Perhaps its just me, but I'd do a full eval of the cost relationships assuming a slow client base and extra expenses, just in case of slow months and/or unforeseen expenses.

Best of luck!

[slaves666]

I did the same thing about 6 months ago. I took over a lease of a finished studio.....proabbly not as nice as yours, but less overhead. Best move I've made... I was already covering the cost working out of my house....and now with a drum room, I can make more.

In this economy it might not be the best move, but I'd try and knock it down a little.

Also calculate, heating, electricity, insurance, travel.....and get a TOTAL cost per month breakdown. Seems to me it would be just over 2k a month. That's 4 days work @ $500....if you are making that now......go for it.....otherwise, stick to what you have until your client-base grows.

[dkelley]

is there gear in there or is it bare? if it's bare then.... well, that's going to get expensive. but if it's got gear, old gear in particular, you could really set that up as a great little analog/digital studio.

[Rick Sutton]

Originally Posted by LimeMusic

Don't plan your budget based on having the place booked 5 days a week, because that's unlikely to happen for a while. Do the math based on having the place booked two days a week.

True, and right on the money. That's much closer to the reality of the situation.

[Demonslave]

It gets better I went there today and its all still there with the exception of a few diffusor panels and the lanlord was cool as hell! I am only going to take half of the place for now, which consists of a nice finished control room, with clean power, a live room, and a nice sized vocal booth! and a descent sized bathroom all of the HVAC is done, oh he took the bullet proof glass for the control room, but thats about it. My guess is I will need to put about 500 into the place after glass!!

[analogtodd]

Wow,
How could you not do it!!!???

Gear is gear... but a quality built, good sounding room is something to behold!!!

[chrisrnps]

Originally Posted by Demonslave

It gets better I went there today and its all still there with the exception of a few diffusor panels and the lanlord was cool as hell! I am only going to take half of the place for now, which consists of a nice finished control room, with clean power, a live room, and a nice sized vocal booth! and a descent sized bathroom all of the HVAC is done, oh he took the bullet proof glass for the control room, but thats about it. My guess is I will need to put about 500 into the place after glass!!

Nice!

I do hope you'll be posting pictures soon for the vicarious enjoyment of the rest of us!

[Demonslave]

Man they really built this place well... Anyone got some dual 15's they dont need on the cheap? Im gonna get a set of JRX 125 for the main room, but need some BIGZ for the control room. So, I'm naming it "THE DUNGEON OF NOISE RECORDING STUDIO" and I'm not afraid to not attract some vocal glee club either, because I am going to be true to what I love and believe in Yeah its about making rent and being rewarded for your hard work and risk taking, but I'm doing it for my love of Rock and Roll especially METAL!!!! Plus Im the youngest commercial studio owner in town (and I am not talking about a studio in a loft or practice spot.... Someone wanna rent my garage space??? 450.00 a month Its killer, with a nice drum room and vocal booth!! AC and Heat......weeeeeeeeeeeHere are a couple of the control room (not my console ) and the main room!!!!!!! Sweet home Chicago!

[BOWIE]

Originally Posted by Demonslave

Man they really built this place well... Anyone got some dual 15's they dont need on the cheap? Im gonna get a set of JRX 125 for the main room, but need some BIGZ for the control room. So, I'm naming it "THE DUNGEON OF NOISE RECORDING STUDIO" and I'm not afraid to not attract some vocal glee club either, because I am going to be true to what I love and believe in Yeah its about making rent and being rewarded for your hard work and risk taking, but I'm doing it for my love of Rock and Roll especially METAL!!!! Plus Im the youngest commercial studio owner in town (and I am not talking about a studio in a loft or practice spot.... Someone wanna rent my garage space??? 450.00 a month Its killer, with a nice drum room and vocal booth!! AC and Heat......weeeeeeeeeeeHere are a couple of the control room (not my console ) and the main room!!!!!!! Sweet home Chicago!

Wow, I thought it sounded like a bad idea til you posted the pics. That's sweet!!! Congrats man! All the best to "the Dungeon of Noise".

[NorseHorse]

HOLY MOLY! Check out those pics. Congratulations!

[Jim Williams]

I would seek out the previous owner/operator and ask why they got out.

Jim Williams
Audio Upgrades

[chrisrnps]

Originally Posted by Demonslave

Here are a couple of the control room (not my console ) and the main room!!!!!!! Sweet home Chicago!

Wow. Suh-weet!

If you're going to be doing the lowball-rates thing as you've hinted, I'd suggest adding something to the effect of "introductory rate" or "grand opening special" or something like that, so if you need to up your rates in a few months or a year, it's not a surprise.

[Demonslave]

Originally Posted by chrisrnps

Wow. Suh-weet!

If you're going to be doing the lowball-rates thing as you've hinted, I'd suggest adding something to the effect of "introductory rate" or "grand opening special" or something like that, so if you need to up your rates in a few months or a year, it's not a surprise.

thats what imma gonna do. thxthumbsup

[Demonslave]

Originally Posted by Jim Williams

I would seek out the previous owner/operator and ask why they got out.

Jim Williams
Audio Upgrades

Yeah the guy was in there for 25 years, he was an older guy, this part of town has mostly broke metal kids, (Me included) so I am going to cater to them, He was probably not gonna charge less,(80.00 HR) so he was done, it is pretty!

[Demonslave]

Originally Posted by Jim Williams

I would seek out the previous owner/operator and ask why they got out.

Jim Williams
Audio Upgrades

Maybe the mob was after him LOL

[mooch4056]

Originally Posted by Demonslave

Yeah the guy was in there for 25 years, he was an older guy, this part of town has mostly broke metal kids, (Me included) so I am going to cater to them, He was probably not gonna charge less,(80.00 HR) so he was done, it is pretty!

I wish you luck in thsi buzness adventure.

Gary Cobb was the owner of ars -- he did big names acts, he didnt cator to broke metal kids or kids at all. Ive worked with him a few times, very smart and reportable sound engineer. havnt gotton a hold of him yet to find out if he moved or what, but I know hes not out of the business.

he still has his old web site up -- I am sure youve seen ARS Studios

too bad all that awsome equipement isnt still there - -along with gary's ears and skills

Again good luck to you

Paul

[The MPCist]

Awesome place for 1600@month, man!!! Go for it if that's your dream! Man, in this economy, lots of spaces are being torn down -- better to take over one than build one..... at least we can keep some of the old places still open.