View Full Version : Ownership of real estate in west town chicago area
chrisz
Aug 27, 2008, 08:09 AM
I have a client interested in making an offer on a 3 unit building located at 525 N Marshfield Ave in Chicago, IL. Two of the units are listed on the multiple listing service and are for sale but I need to know who owns unit #2 in order to make an offer?
ScottGem
Aug 27, 2008, 08:12 AM
I'm confused. This is a three unit building but 2 are up for sale and one is owned? Does this mean it's a condo? If so, then how do you buy a building where the units are condos? You would have to purchase each unit separately.
As for ownership, check with the county clerk.
deedgrabber
Aug 27, 2008, 08:56 AM
I checked online and the building is indeed separated into 3 separate PIN numbers indicating that it's been split into condos.
So, the building can't be sold as a whole but only by individual units. Your client would be making an offer on two condos.
ScottGem
Aug 27, 2008, 08:59 AM
I checked online and the building is indeed separated into 3 separate PIN numbers indicating that it's been split into condos.
So, the building can't be sold as a whole but only by individual units. Your client would be making an offer on two condos.
Thanks for confirming that. I was pretty sure of my ground here, but having the question even asked gave me pause to wonder.