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All Forum Posts by: Tom Shallcross

Tom Shallcross has started 9 posts and replied 586 times.

Post: Anyone else getting fraudulent applications?

Tom Shallcross
Posted
  • Rental Property Investor
  • Chicago
  • Posts 611
  • Votes 1,089

@Paul De Luca - one other note is when setting the appointment mention "due to an increase in fraudulent applications, we typically ask for 2 forms of ID and xyz.."

Potentially saves you some time as the fakes will bounce and just go to the next listing as you've tipped your hand that you will fully screen. It also makes it clear up front to the real prospects so they understand why you're asking for what you're asking. 

Post: How to find Condos that you can rent out?

Tom Shallcross
Posted
  • Rental Property Investor
  • Chicago
  • Posts 611
  • Votes 1,089

Since you are in Chicago, you may be in luck. If you know the address of one of the units or the PIN you can look it up at the Cook County Recorder site - http://ccrecorder.org. Some HOAs record the bylaws and amendments so you can click on the actual document and read through the bylaws. Other option would be to call the management company or HOA and request the document or ask the question directly.

Post: Chicago Garage Build

Tom Shallcross
Posted
  • Rental Property Investor
  • Chicago
  • Posts 611
  • Votes 1,089

@Nathan Kantner - I also have a solid garage guy if you still need someone. Feel free to DM me for contact. 

Post: Permits and our Architect

Tom Shallcross
Posted
  • Rental Property Investor
  • Chicago
  • Posts 611
  • Votes 1,089

@Olivia Parker - it's a mess but hopefully can help.

To clarify, since you can't make it a 2-unit by right, did you receive your denial and go through the tedious the zoning variance process? You state "following approval from zoning committee" - has that approval actually happened? Because your screenshot shows incomplete. 

I could be wrong here, but I believe self-cert expedites the building dept reviews of ventilation, electrical, plumbing....etc. It does NOT expedite the zoning review, which is your the long pole in the tent if you have not received your variance.

@Samuel Pavlovcik - come provide some guidance here. 

Post: Chicago zoning administrative adjustment

Tom Shallcross
Posted
  • Rental Property Investor
  • Chicago
  • Posts 611
  • Votes 1,089

The Chicago administrative adjustment process will add roughly 30-60 days to the permit process. You will first need to submit your plans "as-is" and get them denied by the city as you'll need the denial letter as part of your submission for your administrative adjustment. Once you submit for the administrative adjustment, the the property on each side of you along with the alderman will get a certified letter notifying them of your administrative application. I believe there is then a ten day waiting period. On my last one I also needed to get pictures of each house on the block (not sure why).

Long story short, it's doable, but adds time/holding costs, architect expense and another $500 to the city. I would speak with your neighbors beforehand and try to get in touch with the alderman so they are not blindsided by the letter.  
 

Post: Hard money lenders in North Suburbs of Chicago

Tom Shallcross
Posted
  • Rental Property Investor
  • Chicago
  • Posts 611
  • Votes 1,089

@Daniel Botvynko - no you will not automatically be turned down, but you need to go in with eyes wide open on all the different possibilities and needed capital to get the project to the finish line. 

Post: Recommendations for Finishing a Basement?

Tom Shallcross
Posted
  • Rental Property Investor
  • Chicago
  • Posts 611
  • Votes 1,089

@Michael Mahung - as @John Warren mentioned you need an architect. Step one is to see if your property is in one of Chicago's ADU PIlot Areas - Chicago ADU Site. The ADU program allows you to add a unit by right instead of going through the entire zoning variation process. @Samuel Pavlovcik has reviewed and worked on these for me and can talk you through the administrative differences. 

Regardless of ADU or not, if you're doing it by the book, you'll draw up plans and submit for permits. You'll likely have to update water service as you're adding a bath, and need to account for adding an additional electric and gas meters. Besides the height requirement you referenced, you'll need to also hit the light and ventilation requirements. I'd strongly recommend drain tiling around the perimeter along with the sump pump and ejector pit. Also, make sure the general mechanical room is separated and can be accessed as a common area (so don't have to access garden unit to get to meters and mechanicals).

As for buying materials, if you don't know what is needed than you will need to work with an experienced GC and rely on him. Overtime as you have a better pulse for this project, you can look to order materials, but right now it sounds like you would just be adding another layer of variance to the equation. 

Post: Chicago West Suburban Real Estate Investor's Meetup

Tom Shallcross
Posted
  • Rental Property Investor
  • Chicago
  • Posts 611
  • Votes 1,089

@John Warren - looking forward to it. We'll get to see each other twice within a week? What a world! 

Post: Recommendations for general contractors in Cook County?(IL)

Tom Shallcross
Posted
  • Rental Property Investor
  • Chicago
  • Posts 611
  • Votes 1,089

Post: Recommendations for a good Chicago accountant/CPA?

Tom Shallcross
Posted
  • Rental Property Investor
  • Chicago
  • Posts 611
  • Votes 1,089

@Steve Kehoe - check out @Aaron Zimmerman, he's also an investor himself. We've had him on the Straight Up Chicago Investor podcast and contribute multiple blogs - all 100% geared towards REI.