Subdividing Individual Parcel

[Reed Meyer]

Does anyone know what the process is to split a property parcel into two?

The property has one tax ID but two 3-unit buildings each with their own address on different streets (the property lies on a corner lot). Could unlock a ton of value if they were two 3-flats instead of one 6-unit building.

Curious if anyone has any experience dividing an individual parcel into multiple in Chicago.

Thanks!

Reed

[Jonathan Klemm]

@Reed Meyer - That's definitely a very tricky subject and you received some solid advice from @Jennie Berger.

My advice would be to use your time elsewhere or find a Chicago developer to partner with that has done it before.  You'd need to take them the underwritten deal proforma and have them help you navigate the entire process.