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Updated almost 7 years ago,

User Stats

49
Posts
19
Votes
Chang Hee Lee
  • Real Estate Broker
  • Champaign, IL
19
Votes |
49
Posts

Building Property Over Easement??

Chang Hee Lee
  • Real Estate Broker
  • Champaign, IL
Posted

Hey BP,

Currently working with an buyer and they've set their eyes on a nice fourplex that cash flows well and meets most if not all his criteria. Best part is that it is a double lot zoned R-4 Multifamily. Unfortunately, there is an easement (storm drain runs under the other lot) and the area is a designated so that all properties must be close to the sidewalk which is where the drain runs under so cannot build a property behind even though there's plenty of land. 

I've been through creative situations before but I'm not sure this one is going to work so I'm about suggest we walk away BUT I wanted to see if anyone else has encountered a situation like this and somehow made it work or taken advantage of the situation. Any views or feedback would be appreciated!