Inquiry About Retail Lease After Foreclosure

[Russell Block]

I recently purchased a property in foreclosure. The mortgagor lives in one of the rental units and operates a business in the retail space. They operate without any sort of lease, as I understand it. They are afforded very little in the way of tenant protections and an eviction is ordered at the court hearing at which I am supposed to acquire the deed. They are given thirty days to exit the premises. I do not know if they are allowed to continue operating their business or not. This is a point of particular concern, because the insurance companies have balked at insuring the property while their restaurant is in operation. The building is in Chicago. Does anyone have any ideas on this? Reference to actual ordinances or statues would be appreciated.