Foreclosure in Chicago>Question Details

Luke Wojcik, Real Estate Pro in Chicago, IL

Does anyone have experience buying a property in Chicago demo court?

Asked by Luke Wojcik, Chicago, IL Wed Dec 5, 2012

A partner and I have an REO under contract which his in demo court and a scheduled court date for the end of January. Our atty said as soon as we close we will need to file a special injunction and tell the courts we are working on the property and getting all the permits. Our fear is that despite that they will come and demo the building anyways... Whats actually interesting is that the building is in sound structural shape and its conditional doesn't warrant demolition at all

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5
Luke-

The city will usually only knock a building down as a last resort, that said they are within their rights to do pretty much whatever they want.

Demo court is the way the city forces a building to comply with code - this usually means full plans and permits. You will be dealing with a Conservation Inspector. These inspectors do not have the normal boundaries tied to typical building permits and can make your life hard (new lists every time they show up, etc.) Best way to take them out of the equation is full plans and permits - that allows other building department inspectors to sign off on the work. Once the conservation inspector assigned to the case sees that other departments have OK'd work per plans and permits that have been issued by the building department, things go smoothly.

You will need an attorney that is extremely familiar with the Daley Center demo court inner workings. If they personally know the city's counsel even better.

Unless you are a seasoned investor there are easier ways to buy real estate and make money in this market. Let me know if I can help further, I have handled quite a few projects like this for myself and investors.

Erik Sachs
RpV Realty and Development
Cell 773/368-5515
Email esachs@rpvinc.com
2 votes Thank Flag Link Wed Dec 5, 2012
Definitely get involved with the building department and make a friend. Find out what court rooms the hearings are held and participate.

You have some sound advice from Bill and Joseph.
1 vote Thank Flag Link Wed Dec 5, 2012
Contact the building department and see what suggestions they offer.
1 vote Thank Flag Link Wed Dec 5, 2012
go to the court room / office and get your hands dirty..ask questions.. ask for referrals.. get moving!
1 vote Thank Flag Link Wed Dec 5, 2012
best to call Jim Schultz on this one at 773 680 7426
0 votes Thank Flag Link Wed Dec 5, 2012
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