All Forum Posts by: John Clark

"Sounds right to me. The new owner does not get the previous exemptions unless they personally qualify for them"

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Still might be worth seeing if prior owner's exemptions carried over for 1 year (give that Chicago pays a year behind) since the prior, qualified, owner owned it on 1 January 2017. The only advice I ever really give is "go see a lawyer."

"But the final 2017 bill did NOT reflect any exemptions, so we ended up paying an additional $5800 for a total of $6900 to the county for year 2017."

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What exemptions did you qualify for that you didn't apply for? Start there and see if you could do a certificate of error and get a refund/reduction.

There are 4 main property tax exemptions in Chicago. They are:

a. -- Homeowner's  (your principal residence)

b. -- Senior (over 65)

c. -- Senior freeze (over 65 and income limit)

d. -- Long time homeowner (ten consecutive years as your principal residence AND income limit).

Do you come under any of those classifications? If not, no exemptions. Whether you could have carried forward the prior owner's exemptions because he owned it on January 1st of 2017 and you were paying 2017 taxes in 2018 (Chicago pays a year behind), I don't know. Go talk to a lawyer. I can't give legal advice.

Also, your property was probably re-assessed to reflect your purchase price. That could be a big increase right there.

Finally: Welcome to Chicago.

"ask the alderman about rezoning it to RT"

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Thanks @Brie Schmidt but in my view, before you go to the alderman you need an estimate of what it's going to cost before youdo so. You might decide it's not worth the hassle of being in the alderman's sights.

"One thing I don't understand is how they can tax the building, charge water and garbage all as a 3 flat, but not legally zone it as a 3 flat."

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Different departments look at facts in order to maximize revenue.  Changing zoning increases revenue for Buildings Department (inspectors and such) in conjunction with zoning people (all ties into fees, etc., and last (but certainly not least) your alderman's re-election campaign committee. It's the Chicago Way. Don't believe me? Call Alderman Burke. Second most powerful politician in Chicago. Shook down a fast food restaurant over permits for remodeling for chrissakes. We want Chicago to be a first-world-class city. Never gonna happen. Why? 'Cuz we got third-world class crooks running the show.

The Chicago Way.

Work deal/closing numbers as two flat.

Ask attorney cost to upgrade/variance to three flat

Work numbers again.

Ask attorney about potential fines -- including retroactive ones -- for illegal apartment

Work numbers again.

Ask attorney/other land owners/"people" about bribes [a/k/a "campaign contributions"] to aldermen to agree to zoning change, preferably retroactive or with only modest fine.

Work numbers again.

Close or not, as you see fit.

Just business advice, nothing else.

You have to make reasonable accommodation, so the size of the animal vs. the square footage of the apartment is a factor. The particular history of the particular animal is a factor. The wear and tear on the apartment is a factor. Allergies of other tenants is a factor. The ability of the tenant to take care of the animal's hygiene is a factor (and just how do you intend to clean up the cow flops every day, ms. applicant?). Animal noise is a factor. 

Insurance may or may not be a factor. Shop around for insurance policies. Get quotes for policies with and without breed restrictions. Know what your financial hit might be to switch policies or have lower coverage, as that will go into the question of reasonable accommodation.

Just make sure everything is established and documented BEFORE you start taking applicants with ESA issues.

"Also, is anyone using permit expeditors? If so, how much time does it shave off and how much are you paying for one?"

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Here in Chicago expediters are called "Aldermen" and the more you pay the faster you can get something done. Call Alderman Burke's office and arrange a tutorial.

"How do i get in their circle without Proof of Funds?"

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You can't. As other posters have said, you have to close deals. So you have to either have proof of funds, or proof of influence over those who have funds.  You bring the people in your circle (those with funds), to the broker.

Otherwise you are just wasting the broker's time, and he doesn't need that. So IF you have people you can deliver, then find out from them what their criteria are for deals, figure out their financial wherewithal, and then go to brokers and say "I have X type of buyers who are interested in Y type of deals. Do you have any such deals?"

The broker will try to learn the identity of the buyers so he can cut you out.  You say no, as your buyers are depending on you to screen the deals for them. If the broker persists in not telling you about deals meeting your announced criteria, move on to the next broker.

As other posters have said, however, then you HAVE to close. Otherwise you will be written off as a time waster. So don't look for super deals and then try to flog them on. Look for super investors and cater to their needs as a screener. THEN the brokers will start coming around.

@Brie Schmidt "Prior to 2009 we did not have water meters, nor is it a mandatory program in Chicago. "

@Ray Harrell "if it turns out I don't have an RF meter, you owe me donuts!! I like Dunkin Boston Cream...2 dozen please!"

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I'll take the $24 in used, unmarked, small denomination bills, Ray (I do confess to a weakness for Boston Creme from Dunkin DOUGHNUTS (never should have changed the name)).

Thanks, Brie!

"I would imagine my meter is not a "new" one, but an old mechanical meter that requires a physical reading (expand your thinking)."

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My impression was that the City went from unmetered accounts to metered with RFID capability. Maybe I'm wrong, but I have dollars to doughnuts that you have a meter that should be sending a signal and isn't. 

It's always worth getting an RF meter installed. Why? Two reasons. As one poster noted, it will save on a huge back bill when the water department catches up with you, AND, as a businessman, how can you not want to know what your costs are?