Neglected Homes › Situations

Selling a rental you are tired of managing

Late rent, repair calls and a building that needs more than it earns. If you are done being a landlord, you can sell the property with its problems.

Can you sell with tenants in place?

Often, yes. A sale does not end a lease by itself, and tenant rights in Chicago and Cook County are specific. Tell us what leases are in place and whether rent is current. Have your attorney confirm what notices apply before you make any promises to tenants.

What we want to know

• Number of units and which are occupied
• Lease terms and current rents
• Any rent owed or eviction cases
• Known repairs and any city violations
• Property taxes and whether they are current

What you skip

• Fixing units between tenants to get them show-ready
• Showings around tenants' schedules
• Agent commissions

The trade-off is price. An investor pays less than a retail buyer would for a fully repaired, fully rented building. If listing would serve you better, we will say so.