Looking For Properties in Chicago ASAP

[Yash Kamaat]

New to Chicago, looking for wholesale properties. Taking referrals for wholesalers or brokers. Any knowledge on particular permit or regulation issues that most people encounter in this region would be great. Any known delay issues with the city? Thank you! 

[Mike B.]

@Yash Kamaat I don't know if these are barriers to entry, but there can be some costly delays depending on your cost of money.

1- If you decide to do a rehab beyond a repair/replace permit, make sure to hire a self certified architect. They will typically get you permits within 30 days. Non-self certified architects can take 60-90+ days to acquire permits.

2- Try to project your inspection requests. Meaning, don't wait until your done with the work to call. It can take up to 30 days to get an inspector onsite right now so call when your trade is roughly 2-3 weeks from completion. This will also speed up your trades to get the work done quicker when they have a hard deadline.

3- DO NOT ARGUE WITH THE INSPECTORS. Even if they're wrong, smile and say no problem. It's a battle you will not win.

4- Zoning certs are taking a long time to get right now (30 days plus). If you decide to buy a multi unit, this will be necessary to close.This won't cost you anything to wait, but something you should be aware of.

If I think of anything else, I'll add to this thread.