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Multi-Family and Apartment Investing

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J Folsom
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Buying single family home zoned as multi unit

J Folsom
Posted May 1 2020, 18:16

We are under contract for a beautiful SFH in Chicago. But during attorney review see that the house is zoned for multi unit. We think the sellers bought it 6 years ago as a multi-unit, did some renovations and have lived in it as a single family home. There are no permits for anything done to the house. Just the garage they built. Inspection revealed no issues with the home. We close end of May and the city offices are basically closed...no way they are going to be able to get it zoned as a SFR. Is it a bad idea to buy this house if it is zoned for MU? What will happen with the appraisal? Thank you!

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