Chicago's New ADU Oridnance: Does it change anything?

[Noah Lomax]

Hi Folks,

I'm new to Chicago from San Diego, and trying to quickly wrap my brain around the investment market here. I'm specifically looking at the new ADU ordinance that goes live in May, 2021 and whether that really unlocks potential or still leaves too many loopholes and headaches for this to be a viable option. With multi-families in high demand, I'm looking to purchase a SFR and either a) convert the basement to a garden unit or b) put an ADU on the lot. I am in the process of doing this to a property in California and the ROI is really solid.

I spoke with my partners existing realtor/best friend and he seemed to think the new ordinance doesn't bring any significant change to Chicago and I'm barking up the wrong tree. Digging in online hasn't yieled me a lot of information one way or another. 

What do you think? I'd be grateful for any input or expertise from the local BP community.