Process for splitting one lot into two lots

3 Replies

I'm looking at a potential deal in Chicago for a 3 flat on an extra wide lot. Half of the lot is empty and the empty half alone measures approximately 25x125. Based on comparable properties in the area, it seems like the 3 flat  is listed fairly competitively and the extra large lot is essentially an added bonus. Although, this is a pretty appealing deal regardless, it becomes extra enticing if I was able to split the lot into two lots and build a 2 flat on the empty lot (based on a quick look at the zoning (RS3) for this area, I believe this is possible).

Does anyone have experience with costs/process/timeline associated with this?

Thanks in advance!

@Chris Scales Your best bet is to go down to the city and talk to the planning department. They should be able to tell you all of the requirements and if it's even possible on the particular piece of land you are looking at. Better still, they will probably be able to give you information about recent nearby subdivisions. Within that information will be the names of the engineers, contractors, and surveyors who completed all the necessary work for those projects. You'll be able to call those guys up and they will already be familiar with the area and give you more insight to whether it's worth it or not.

You have to do some digging and find out if it’s a buildable lot. My 4 flat is on a “double lot”. I have two pins and the property sits only on one lot, but the other is not buildable. Seems like a nice way for the city to tax me twice. 

Ask your lawyer to look into it.