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All Forum Posts by: Morgan Welsh

Morgan Welsh has started 1 posts and replied 2 times.

General Landlording & Rental Properties

Post: Owner of LLC qualify as owner occupied

Morgan WelshPosted
  • Posts 2
  • Votes 0

To clarify, I am essentially asking if the property can still be excluded from the CRLTO if the owner of the LLC continues to live in the 6-unit property.

0 Votes
General Landlording & Rental Properties

Post: Owner of LLC qualify as owner occupied

Morgan WelshPosted
  • Posts 2
  • Votes 0

Hi everyone,

I haver searched everywhere, but cannot find a definitive answer. Under Chicago Municipal Code RLTO 5-12-020, exclusions are made for dwellings that are "owner occupied" and 6 units or less. Currently, the property owner qualifies for this exclusion. However, the owner wants to form a one-member LLC. I am wondering if his continued living in one of the units can still be considered owner-occupied if he transfers the property to an LLC?

0 Votes