Rezoning to Add a Unit

[Hemang S.]

Hi all. I am under contract on a Chicago property that has 3 cashflowing units but the zoning cert says it is only a 2-unit + commercial space (which has been turned into a 3rd unit. It is zoned RT-4). I am wondering what the rezoning process is like and any advice you have from that front. If rezoning is just time consuming, I imagine a price reduction on this property would make it worthwhile. Thanks for your help and tips in advance!

[Hemang S.]

Thanks for the info everyone. @John Warren, the situation you described is almost exactly what the seller is experiencing. I saw their zoning certificate saying it is 3-unit, but now that it is being sold, the city said it is a 2-unit. It sounds like you were able to contest what the city said and so I expect we can do the same.

@Jonathan Klemm. The property is not really on a busy street, but the first floor used to be used as commercial space a while ago so I am assuming it has something to do with that. I'll check in with the contacts you mentioned and go from there. Thanks for the assist!