Chicago Real Estate Forum
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago,
Distressed property next door. What to do?
I purchased a 3 unit building in bronzeville about 2 years ago now and all of the houses and apartments on the block are in great shape with owners who care, except the one next door to my property. The property is a 3 unit building and has been all but abandoned since long before I bought my place. I've noticed on occasion, 1 guy comes and works on the interior of the property every few months for a few hours. He's honestly done nothing compared to the amount of work this place needs before someone could possibly move in.
How should I report this distressed property to the city? Is there a way to force the owner to sell it? Should I attempt to contact the owner myself and try to buy it? The ARV would be very much worth while but I definitely don't have the cash on hand to flip it or BRRR it. Any thoughts or advice would be appreciated!