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Updated almost 6 years ago,

User Stats

103
Posts
72
Votes
Ki Lee
  • Rental Property Investor
  • Cypress, CA
72
Votes |
103
Posts

Converting a 3 unit rental to separate condos in Chicago?

Ki Lee
  • Rental Property Investor
  • Cypress, CA
Posted

Anybody familiar with the Chicago market?

I have a 3-unit rental property in Logan square(somewhat less desirable part of Logan square) and was considering converting the triplex to 3 individual condo units and selling them.  

There are no recent comps in the area for condos of a small multi unit building.  Any opinions on the feasibility of this idea? Any idea where I can get some good recent comps?  

Also, are there big challenges with this as far as permits/zoning regulation?

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