Updated over 2 years ago on . Most recent reply
Question on buying a 4 Unit building that is a Coop and converting it into a condo
In my area, some listings for condos are sold individually stating they are coops. I am looking at a 4-unit building in the near future, (each having 2 beds/1bath) but I have seen that some listings state that the building is a coop, and I know in Illinois or at least I was told in the past that coops aren't familiar here in this state and that it makes it harder to get a loan for them. I was wondering what the costs would be or even an estimate on converting a 4-unit building that is a coop to a condominium? My goal for the 4 units is to rent each out and hold for the long run so some advice on this would be great!
Thank you in advance for the help!