All Forum Posts by: Bree P.

@Jesse Frageman did you end up finding an inspector you like? I just went under contract on my first multifamily purchase on the north side and would love recommendations. Thank you!

Thanks for the replies! 

@Mark Ainley, I would love if you could PM some contacts for local real estate attorneys. 

The unit is legal in the sense that it meets all codes (ceiling height is 7'6" in > 25% of each room, exits based on square footage, lighting/windows, etc.), but I don't believe the property itself is zoned for 3 units. We will have the zoning pulled, but based on the public searches available it appears to be an RS-3. I'm not sure if the unit itself existed when the zoning changed, but the building did (was built in the 1910's). 

Hi All! 

My husband and I are looking at doing an off the market deal on a multi-unit (two flat) on the north side of Chicago with a non-conforming garden unit. While we own a single family town home in DC, this will be our first multi-unit. I was hoping to get some insight on a few things from some of the seasoned folks out there. 

1. Considerations for not using an agent: We plan on hiring our own real estate attorney as well as finding our own inspector. Anything else we should consider doing? Any recommendations on either front?

2. Property management: while we plan on managing the property ourselves while we live there (my husband is in the military and we just started a 3 year tour in Chicago), we may look to a property management company to help maintain the property when we move (depending on our tenants and how the numbers shake out). Will a property management company rent out a non-conforming unit? Does anyone have experience with a similar situation?

3. Rent: do those of you renting out your units increase the rent on an annual basis? We are used to the 2% rent control limit in DC and haven't touched the rent for the past few years (same tenants), but wondering how folks handle that. 

Thanks so much!

Bree