Chicago Area Real Estate Attorney for Multi-Unit Buildings

Legal Support Transacting in Multi-Family Homes

Any real estate sale has the potential to become an immensely complicated affair. Even when a sale appears as if it will be straightforward, complicating circumstances may appear. The sale or purchase of a multi-unit building is rarely a simple matter. Most purchasers do not intend to occupy the premises of a multi-family home themselves, but to become a landlord to those who do. Seamlessly transferring ownership of such a property can take skill and preparation. We closely supervise every step in the transaction process.

At The Sherrod Law Firm, Ltd., we are meticulous about ensuring that each moving part in these major transactions is just as it should be before you sign anything. Our team can provide professional guidance in every aspect of your transaction, from choosing a property to transferring existing leases. We can offer you a significantly higher level of service than a real estate agent could, and we can even provide ongoing legal support as you begin your duties as a landlord.

Real Estate Attorney for Occupied Multi-Unit Buildings

Transactions for the sale of multi-unit buildings are unlike any other type of residential real estate sale. When you purchase a single-family home, you receive an empty building, which you are then free to renovate or redesign before moving in. When you purchase a multi-family home, you will instead receive a building that very likely already has people living in it.

In Illinois, the leases of current occupants must be honored. You are taking on a new set of job duties when you purchase occupied housing units, whether you plan to outsource these duties or address them yourself. There are liabilities associated with being a landlord that we will strive to mitigate and manage on your behalf. Our goal is to guide you through every part of the transition process and ensure that you are positioned for success as a landlord.

Lawyer for Buying and Selling Multi-Family Dwellings

Entering a transaction for the sale of a multi-unit building can be a bit like trying to buy or sell multiple homes all at the same time. Finalizing such a transaction can take time. Our attorneys will patiently and meticulously ensure that each necessary step has been taken to protect your real estate investment. With our eye toward asset protection, you will be able to deal in multi-unit buildings with confidence, even if this is your first real estate deal.

As there are a number of moving parts in this type of sale, the contracts used are likely to be complex, lengthy, and rife will legal technicalities and archaic language. We will not proceed until we have read every word and can advise you as to what your future rights and obligations under the contract are.

Dealing in multi-unit buildings is a more sophisticated form of engagement in the real estate market that requires a greater level of skill and care than a typical single-family home sale. We are meticulous in preparing for these transactions. In many cases, we become involved in drafting the deed language itself so that we can take this additional opportunity to protect your interests. We take every measure needed to ensure that your transaction will go smoothly, both at the time of closing and on into the future.

Contact a Hyde Park Real Estate Attorney for Multi-Unit Buildings

The Sherrod Law Firm, Ltd. is skilled in assisting with transactions involving multi-unit buildings and properties. Our accomplished Chicago-area real estate attorneys can provide a higher level of service and legal skill than you would see working with a real estate agent alone. Contact us at 312-321-6910 for a free consultation. We serve clients throughout the Cook County area in Chicago, Evanston, and Hyde Park.