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Updated over 6 years ago, 07/31/2018

User Stats

252
Posts
244
Votes
Jake Fugman
Agent
Pro Member
  • Real Estate Broker
  • Chicago, IL
244
Votes |
252
Posts

Special Use / office zoning - valuable?

Jake Fugman
Agent
Pro Member
  • Real Estate Broker
  • Chicago, IL
Posted

Hey all,

Im a local investor in Chicago and considering purchase of office space in the western suburbs that was most recently a medical office (with surgical build out).  Its now a bank owned facility and the ask price is comparable to standard office space in the area.  

Most of my experience is in MF investing so Im not sure if its smart to run my ROI numbers based on a medical buyer/renter in 12+ months OR plan to gut and re-purpose as standard office space to cater to a larger customer base.

Is there solid value placed on "grandfathered" special use medical zoning? 

Any help is appreciated!  

  • Jake Fugman