Is Evergreen Park a Nightmare for Investors?

Question

I would like to hear from investors with direct experience working in Evergreen Park. The permit process, timeliness, inspectors attitudes, cooperation?

Wsam Taiym · Answer

@Mark Shelstad

Hey Mark, I did a flip over there in 2012. The rehab I did was paint, hardwood, kitchen, tile, nothing too crazy. I remember the village held up the closing because I had to get a permit. The village inspector did an inspection of the property prior to sale, he immediately determined that it was a “rehab job” without hearing me out. I did the work on my own. I believe doing the work on your own is a way to get around the permits. It was pretty chaotic and I had to take care of a bunch of stuff same day to close. I also got ticketed and attended some kangaroo court, the inspector wasn’t even there, I believe the fine I paid was about $500.

I did it a while ago, so I’m not sure if the process changed at the village. I guess that’s a cost of doing business.

Mark Shelstad · Answer

Wow, they really know how to encourage village improvement!

Eric Sanders · Answer

Hey Mark,

I don't know much about working within Evergreen Park, but I do know the town requires a $10,000 bond that they hold onto for a year before giving it back to you, for every investment property you purchase.

Best of luck,

Eric