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All Forum Posts by: Alex Martinez

Alex Martinez has started 3 posts and replied 15 times.

Post: Chicago Steel Porch Referral

Alex MartinezPosted
  • Investor
  • Chicago, IL
  • Posts 15
  • Votes 12

@John Warren I'll send you PM

Post: Chicago Steel Porch Referral

Alex MartinezPosted
  • Investor
  • Chicago, IL
  • Posts 15
  • Votes 12

Hi all. I'm looking to get a quote for a 2-story Steel Porch with an additional staircase to a rooftop deck in Chicago. Referrals for any steel porch builders/contractor would be greatly appreciated. Have a great weekend.

Post: What rehab elements tend to increase appraisal value the most?

Alex MartinezPosted
  • Investor
  • Chicago, IL
  • Posts 15
  • Votes 12

@Prashanth Mahakali @John Warren thanks for the valuable input!

@Prashanth Mahakali when you say "based on zoning, only a single family can be established", are your referring to the Zoning District the lot is in (e.g RS-3, RT-4, RM-5 etc)? Or are you referring to the # of units on the Certificate of Zoning?

As @Ryan Monty mentioned above, I've seen legal 3-units with un-zoned/un-permitted basement unit (Cert of Zoning, building permit records, and assessor's data say 3-units) in RS-3 districts (which don't allow 3-units). In this case, would the buyer be purchasing 3 legal units and 1 "may become illegal" unit? For lending purposes, I know this would be considered a legal 3-unit.

On a similar note, does the Revised ADU Ordinance that just passed allow properties in the pilot areas to add legal conforming unit(s)? In my 3-unit with un-zoned/un-permitted basement example, would getting permits to rebuild the basement as an ADU add a "legal conforming unit"?

Hopefully this helps me and others understand how to optimize a properties potential. Thanks.

Post: What rehab elements tend to increase appraisal value the most?

Alex MartinezPosted
  • Investor
  • Chicago, IL
  • Posts 15
  • Votes 12

@John Warren can you define legal nonconforming? It seems legal nonconforming means a unit was established in accordance with zoning code effective at the time it was built but is not in accordance with the current zoning code (i.e. legal unit that was grandfathered in).

How would you verify that a unit is legal nonconforming? Would a 2 flat with a legal nonconforming basement technically/legally be considered a 3-unit and be viewed as such by lenders? I think this can help clarify things for the OP and many others.

@Samuel Pavlovcik @Prashanth Mahakali @Jonathan Klemm maybe you guys can chime in as well. Thanks.

Post: New Member Introduction

Alex MartinezPosted
  • Investor
  • Chicago, IL
  • Posts 15
  • Votes 12

@Aaron Hartwig welcome to BP. I’m fairly myself but I know reading BP forums specifically about Chicago has helped tremendously.

Also as Aaron stated, listening to the Straight Up Chicago Investor Podcast and reading the blog is super valuable.

Lastly, @John Warren holds monthly meet ups and @Lumi Ispas holds investing seminars that you should definitely check out.

Feel free to reach out if you have any questions!

Post: Chicago ADU ordinance

Alex MartinezPosted
  • Investor
  • Chicago, IL
  • Posts 15
  • Votes 12

The latest from today's meeting in the on the revised ADU ordinance:

https://blog.chicagocityscape.com/revised-adu-ordinance-passes-committee-city-council-will-approve-on-wednesday-73125fe631de

Post: Chicagoland Area REI Meetups

Alex MartinezPosted
  • Investor
  • Chicago, IL
  • Posts 15
  • Votes 12

@Tim Sipowicz


@lumi ispas teaches seminars with extreme value for investors. She is teaching one tomorrow:

https://www.biggerpockets.com/...

Post: Chicago Property Taxes

Alex MartinezPosted
  • Investor
  • Chicago, IL
  • Posts 15
  • Votes 12

@John Warren if you don't mind, can you PM the attorney you use for tax appeals as well? Thanks in advance.

Post: Chicago Porch Question

Alex MartinezPosted
  • Investor
  • Chicago, IL
  • Posts 15
  • Votes 12

@Kerry Baird from my research on 2 story porch with decks, rough pricing would be about $15k for wood and $25k for steel.

Post: Chicago Porch Question

Alex MartinezPosted
  • Investor
  • Chicago, IL
  • Posts 15
  • Votes 12

@Tom Shallcross thanks for the input!