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Updated almost 3 years ago on . Most recent reply
Subdividing Individual Parcel
Does anyone know what the process is to split a property parcel into two?
The property has one tax ID but two 3-unit buildings each with their own address on different streets (the property lies on a corner lot). Could unlock a ton of value if they were two 3-flats instead of one 6-unit building.
Curious if anyone has any experience dividing an individual parcel into multiple in Chicago.
Thanks!
Reed
Most Popular Reply
@Reed Meyer - That's definitely a very tricky subject and you received some solid advice from @Jennie Berger.
My advice would be to use your time elsewhere or find a Chicago developer to partner with that has done it before. You'd need to take them the underwritten deal proforma and have them help you navigate the entire process.
- Jonathan Klemm
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