Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Chicago Real Estate Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

User Stats

870
Posts
345
Votes
Frank S.
  • Specialist
  • Chicago, IL
345
Votes |
870
Posts

LLC and Eviction in Chicago

Frank S.
  • Specialist
  • Chicago, IL
Posted

Ignore the title of the post, please. I can't change it. 

Hi, 

As I research structuring, I have a few questions.   Any help is greatly appreciated.  

Assume a sole prop Owner moving property management to member managed LCC in Chicago. My wife and I will be the LLC member managers and property Owners. I'm not interested in discussing "liability protections" offered by LLCs, this is related to attorney involvement. 

I can manage my own properties as sole prop, but what happens when the LLC is established in Illinois?

*  Do I need  a licence to manage my properties if I move management to my own LCC in Chicago, Illinois?   If so, it seems I would need additional business insurance  My  personal umbrella may not cover a business. 

* If I receive a city violation and want to contest it, can I attend the hearing or do I need to hire a lawyer? 

* What if I face an eviction, do I need to hire a lawyer to represent me or can I do so? 

* Are there any other hidden expenses related to management by having the LLC vs. sole prop? 

Thanks, 

Frank

Loading replies...