Any Experienced Developers Form Chicago??

Comments(8)

• 
  footwork20th January, 2005

  I know some exsperienced developers in the Chicago area. :-D [ Edited by NancyChadwick on Date 01/20/2005 ]

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  TheBreadman20th January, 2005

  New construction:
  
  I would first use the city of chicago websites zoning map to find out how the property is zoned. Once you have that information check out the new zoning ordinance which is also available online to determine the M.L.A. and the F.A.R.
  
  If you don't have a good grasp of how to use these calculations I would get in touch with an architect doing projects in the city. They will be able to help determine what type of new construction is allowed based on the zoning and lot size.
  
  As far as subdividing the property into condos a good RE attorney and architect can assist you in determing the feasibillty.
  
  You need to clarify what you can legally do without having to get a zoning change.

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  commercialking23rd January, 2005

  The City of Chicago has a pretty explicit code on condo conversions. Existing tenats must be given 4 months notice of your intent to convert during that time you may not raise their rents or move to evict them (except for non-payment) even if they have leases which expire before then. If the lease has longer to run than the 4 months you must honor the balance of the lease.
  
  Converting the SFR to the three unit requires compliance with the zoning and building code ordinances which is a seperate issue than the question of converting to condos.

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  ZinOrganization24th January, 2005

  the breadman - i am familiar with the Floor Area Ratio but what is the M.L.A? i thought that only pertained to building upwards.[ Edited by ZinOrganization on Date 01/25/2005 ]

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  Dmurarik26th January, 2005

  I understand most of the zoning laws, land development and subdivision I need a little help in.

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  NancyChadwick27th January, 2005

  In my experience, builders and developers determine land values by looking at the sale value of new homes on their lots, estimating per-lot improvement costs and other expenses, and tracking the demand for new homes in the particular area. They research areas identified as growth areas, see where water & sewer exists or is planned and know who is building or going to be building what where and selling for how much.

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  Dmurarik28th January, 2005

  So builders and developers can give me a future estimate of the new value of a home once rehb is completed ?

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  Dmurarik28th January, 2005

  Thanks Alot!