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Updated over 2 years ago on . Most recent reply

User Stats

66
Posts
55
Votes
Reed Meyer
  • Investor
  • Chicago, Il
55
Votes |
66
Posts

Subdividing Property Parcel

Reed Meyer
  • Investor
  • Chicago, Il
Posted

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 in my instance but open to any and all experiences).

Thanks!

Reed

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