potential flip with 0.55 acres land i want to divide.

Chicago, Illinois
Rehabbing & House Flipping
3yFollow

potential flip with 0.55 acres land i want to divide.

Miki Jovanovikj
Real Estate Broker · Illinois, FL · Member since 2022 · 22 posts · 4 votes

there is a potential house i want to flip it that seats on 0.55 acres of land. i'm thinking to sub-divide the parcel and sell half of the land. i have never done something like that before, what should i look for first or who do call? whats the time line to finish that whole process ? anyone that have experience in this matter please break it down and explain me steps needed to be done. open to connect.

thank you all in advance

0Reply
41 views

Most Popular Reply

Allan Smith
Contractor · Nashville, TN · Member since 2014 · 1k+ posts · 1k+ votes
3y

Check zoning first. Odds are, if you split lot, it won't meet minimum lot size or minimum road frontage.

you need to make connections locally to learn it. You are flying blind. Buy someone's lunch up there in IL.

2Reply
See this reply in the discussion

9 Replies

Jump to latestLatest
  • Allan Smith
    Contractor · Nashville, TN · Member since 2014 · 1k+ posts · 1k+ votes
    3y

    Check zoning first. Odds are, if you split lot, it won't meet minimum lot size or minimum road frontage.

    you need to make connections locally to learn it. You are flying blind. Buy someone's lunch up there in IL.

    2Reply
  • John Teachout
    Rental Property Investor · Concord, GA · Member since 2015 · 3k+ posts · 3k+ votes
    3y
    As stated, find out if want you want to do is even possible. Then.... you need to find out if the split off lot would have any value. ie, is there new infill construction taking place in that area? Keep in mind that there are other issues to be addressed like sewer taps, utility access, water tap, etc.
    1Reply
  • Eliott Elias
    Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
    3y

    Call a survey company and schedule a appointment to sit and come up with a game plan, they know city code like the back of their hand 

    1Reply
  • Paul De Luca
    Real Estate Agent · Chicago, IL · Member since 2018 · 1k+ posts · 1k+ votes
    3y

    @Miki Jovanovikj

    You should probably talk to an attorney before you do anything else to see if it is feasible.

    0Reply
  • Miki Jovanovikj
    OP
    Real Estate Broker · Illinois, FL · Member since 2022 · 22 posts · 4 votes
    3y

    .

    0Reply
  • Miki Jovanovikj
    OP
    Real Estate Broker · Illinois, FL · Member since 2022 · 22 posts · 4 votes
    3y
    Quote from @Paul De Luca:

    @Miki Jovanovikj

    You should probably talk to an attorney before you do anything else to see if it is feasible.


     i got few numbers from surveyors. shoud i call surveyer first or a lawer ?

    i've never done parcel split so i don't know what's the process step by step and what's the first thing to do.

    thank you for responding Paul

    0Reply
  • Miki Jovanovikj
    OP
    Real Estate Broker · Illinois, FL · Member since 2022 · 22 posts · 4 votes
    3y
    Quote from @Allan Smith:

    Check zoning first. Odds are, if you split lot, it won't meet minimum lot size or minimum road frontage.

    you need to make connections locally to learn it. You are flying blind. Buy someone's lunch up there in IL.


     thanks Allan ill call the city and check out with them for start

    0Reply
  • Michael Plante
    Deland, FL · Member since 2017 · 2k+ posts · 1k+ votes
    3y

    I have split numerous parcels in different counties in FL 

    maybe I was naive but all I did was look up the parcel ID on the county website 

    TheN I called the zoning dept and said Hi I want to buy lot C and divide it.   Can I?

    They said yes or no.  If yes I asked for their email address and sent them an email.  They confirmed in writing what they said on the phone 

    I called a survey company said hey please do a survey and divide it according to what the county said 

    I did that and list the lots for sale.   They sold and the buyers out houses on them 

    Sometimes I put in an offer on a property with a 30 day due diligence period.  And call the county then 

    1Reply
  • Miki Jovanovikj
    OP
    Real Estate Broker · Illinois, FL · Member since 2022 · 22 posts · 4 votes
    3y
    Quote from @Michael Plante:

    I have split numerous parcels in different counties in FL 

    maybe I was naive but all I did was look up the parcel ID on the county website 

    TheN I called the zoning dept and said Hi I want to buy lot C and divide it.   Can I?

    They said yes or no.  If yes I asked for their email address and sent them an email.  They confirmed in writing what they said on the phone 

    I called a survey company said hey please do a survey and divide it according to what the county said 

    I did that and list the lots for sale.   They sold and the buyers out houses on them 

    Sometimes I put in an offer on a property with a 30 day due diligence period.  And call the county then 


     That’s for your advice Michael, I’ll do it in that order and try to figure it out. It’s very helpful. Appreciate it 

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free