All Forum Posts by: Muhammad Rizwan

construction workers are generally live in temp housing or hotel.

They are saying it will bring 100 job. Most probably it will be 20 in persons and 80 remote work.

Count me in

Robert Anderson- You joined the right forum. Let me know if I can provide any support.

Depends on type of mortgage loan many banks don’t transfer loans.

Hi Kala, please PM me. I hope I can provide assistance in Chicago and suburbs.

Few questions for clarification
-What kind of violations? 
-How much it will cost? 
- Show your bank you have enough money to fix the violation right after close. I did same with residential investment property but it could be different for commercial? Do you have loan broker then ask him for workaround?

I told the bank and prior to this deal they financed same kind of townhouse which I put on rent already.

The loan is only for property financing and upgrade will be done through my cash savings.

City inspected and only asked to fix few minor items for instance install smoke alarm, paint etc

Because of zoning they are saying you can't rebuild two unit building again if you decide to full re-build.

I am under contract for 2 unit building in Des Plaines, IL. Lender refused to loan few days before closing because of below reason. The property is required cosmetic work and not structural damage.

Can anyone help me to refer conventional loan lender who can finance this property. I can down payment 25%. Any input will be appreciated.

"Subject property is located in a commercial zoning district and is a legal non-conforming use. Per the Des Plaines Zoning Department the subject cannot be rebuilt as a multi-unit property if destroyed more than 50%."

Key words. Zoning, Commercial, Skokie, Morton Grove, Legal non conforming, nonconforming