Splitting utilities in a single-family home in Chicago

[Alex Buscaglia]

Hey Everyone,

I've been looking to get involved in duplexes in Chicago for the past few months.  After putting my first offer down last week and being passed up because of too low of a down payment, I've started to look in other directions (at least until the beginning of the new year when hopefully the pickings won't be so slim).

Single-family homes have started to look enticing, but the problem is, with the price of them and the price you could rent at, the numbers don't make sense.  They would, however, make sense if it were a duplex.  That being said, does anyone have any experience splitting utilities (electric and gas) in Chicago? Is it a pain or relatively simple? I know that zoning and the ability to make it a two-unit comes into play, but if that wasn't an issue, what kind of numbers am I looking at? And if not in Chicago, does anyone have any experience with doing this in general? Things to watch out for?

Thanks in advance!