@Jennie Berger gave you the whole kit & caboodle on Chicago zoning so I don't have a ton to ad, however, I'd highly encourage you to engage an architect like @Samuel Pavlovcik or @Prashanth Mahakali, both are awesome local Chicago resources.

With careful planning and local insights, Richmond can be a solid addition to your investment portfolio.Good luck!

What's the zoning on the property and do you have a relationship or contact with the local rep? 

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

Happy to chat...being a local GC takes out a lot of the risk of the biggest variable for most investors (unpredictable rehab costs) and also allows you to consider more options than the average investor, with your rehab costs being significantly lower.

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

Are you considering expanding locally or branching out to other areas?

.👀 Risk ManagementBoth investments require risk management:Stocks: Company performance, market conditions, economic factorsReal estate: Property maintenance, tenant quality, local market changesBut guess what?

This deal came through Partner Driven's local network in Windsor, NC.

I looked at local companies, and while many locals have great boots on the ground, they lack the economies of scale and systems like what Avantstay uses to attract, vet, monitor, and enforce.