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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

Originally Posted by deedgrabber

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.