Elevator modernization cost

You have an old elevator that needs a modernization or your elevator consultant is telling you its time to modernize.

Now your question is, how much will this elevator modernization cost?

Hydraulic elevator modernization cost

Depending on where your building is located and the amount of work you need done, a typical modernization cost will range from $50,000 to $150,000. Typical hydraulic elevator modernizations include new controllers, door equipment, control operating panels, and tank units. However, if your in ground cylinder need replacing this can add a significant cost. Finally, many jurisdictions around the country require additional building work during an elevator modernization to bring the rest of the elevator up to code. Please note that most hydraulic elevator modernization costs do no include re-doing the elevator interiors.

Traction elevator modernization cost

Again, depending on where your building is located and the amount of work you need done a traction elevator modernization cost can range from $100,000 – $250,000 +.  Typical traction elevator modernizations include the controller, door equipment, control operating panels, and ropes. The range can be so large because replacing door equipment for a 5 story traction elevator versus a 60 story traction elevator clearly adds a lot of costs in parts and labor.   Another large traction elevator modernization cost is replacing the machines. This is often optional and depends on the condition of your current machines. The machines contain the motor.

Old traction elevators had DC drive systems which would convert AC building power to DC power for the drive. New elevators have AC drives meaning there is no need to convert power saving your building money. However. changing the drive is an added expense. Just like with hydraulic elevator modernizations your building may need to be brought up to code and elevator interiors are an extra charge.

Is the cost of my elevator modernization to much?

If you receive a proposal for a modernization, its hard to know if you are being given a fair price. Often times, especially with traction elevator modernizations, building owners will hire an elevator consultant. The consultants can help walk you through the process and issue a formal specifications and request for proposal.

Finding an elevator consultant is challenging. If you would like me to connect with you with my vetted elevator consultant send me a line.