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Updated 19 minutes ago on . Most recent reply

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Asim Purses
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11
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What to do with a Chicago granny/in-law/basement unit?

Asim Purses
Posted

I've got a basement unit which has adequate ceiling height, lighting, egress, kitchen, bath and bedroom with light and closet. It's however connected to the building meter that I pay. That tenant which I inherited with purchasing the building is leaving, so what options am I left with?

Airbnb? Continue to rent out - but at what risk/liability? It's not in the ADU zone and not sure how much more time can be spent waiting. It could be duplexed down - but the investment return isn't there.

Looking for shared experience with this gray area. 

  • Asim Purses
  • Most Popular Reply

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    Nathan Gesner
    • Real Estate Broker
    • Cody, WY
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    Nathan Gesner
    • Real Estate Broker
    • Cody, WY
    ModeratorReplied

    You shouldn't have any problem renting a basement apartment in an owner-occupied property. I'm curious why you didn't investigate this during the purchase? Call the zoning office and anonymously pose your question, and it won't be a "grey area" any more.

    • Nathan Gesner
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