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Updated almost 9 years ago on . Most recent reply

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5
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0
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James Morris
  • Chicago, IL
0
Votes |
5
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Holding commercial multi-family buildings in an estate versus LLC

James Morris
  • Chicago, IL
Posted

Hello, I am seeking the expertise from commercial investors. 

Is it better to hold your commercial multi-family properties in separate LLC's or place the title in an estate?

What are the pro's and con's?

Currently, I'm holding a 10 unit building in a LLC and am contemplating creating an additional LLC to hold the title of a 12 unit. However, multiple LLC's in Illinois($500 initially and $250 annually) can get expensive to maintain.

The goal is to create additional layers of protection and not reveal the owner of the property to the public. 

Lastly, I have umbrella insurance serving as additional coverage. 

Thanks. 

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