The City of Chicago website should have details on where and how to remit.

By having additional parcels, investors can generate more equity and value compared to simply adding an ADU.

Commercial Revenue Generating properties like office buildings, apartment buildings, retail centers, etc (banks call it "CRE" lending) are typically evaluated from their net operating income, not gross.

Also, if anyone has any experience in land purchasing I would appreciate any tips or websites on how to find the best deal or agent for the same.

Still, it is worth it.Think of FF as a lead generator and not a booking platform.

Over the past decade, I’ve built and managed purpose-driven homes in CA that serve communities while generating stable, long-term cash flow.In addition to running care homes, I also consult with aspiring care home owners across multiple states, including Texas, Arizona, and Michigan (Detroit area).

Quote from @Monish Anand: Start by looking for personal recommendations from investors in that market, then look on realtor.com or a google search.DO NOT use agents suggested by a website like realtor, Zillow, etc.

Any ideas on what I could turn it into to help generate some extra profit?

One thing to be aware of is the FHA multifamily self-sufficiency calculation which determines if a property can generate enough rental income to cover its mortgage payments.

It is already renovated, tenant-occupied (or ready for tenants), and generating income from day one.