Illegal Nonconforming Units
Hello BP community!
I wanted to get you opinions on Illegal nonconforming units. I was looking to buy a property with an in-law suite with the intention of living in the in-law suite while renting out the main floor.
The current owner has been renting out the in-law suite for years now with no problems, and I know this stuff is extremely common especially in Chicago, however I am in a south suburb of Chicago, so it would be under a different jurisdiction.
I really want the property, but I also don't want it to cause me a ton of problems down the line. Worst case scenario I'd have to convert it to a SFH and rent it out that way which wouldn't be terrible, but the cash flow wouldn't be nearly as much.
Has anyone had experience with illegal nonconforming units? Is the risk worth it to move forward with the deal? I would love to hear some opinions.
Thanks!