There are many reasons to seek rezoning; as a real estate investor, you are likely to encounter the need for rezoning, typically when developing land for specific purposes, be it housing developments or commercial enterprises, industrial, agricultural, or a mixed-use.
Zoning is often outdated, and commissioners are perfectly willing to update zoning.
Be prepared for unexpected hurdles; it takes time, planning, and patience when you rezone a property in Chicago. The process can also be expensive. You’ll need to prepare for the expenses involved; however, it is difficult to nail down the exact costs to rezone a property in Chicago due to the many variables. Therefore, it is wise to have an experienced team assist you with every step of the process. Read on as we explore how to rezone a property in Chicago.
Review local ordinances before starting the process to rezone a property in Chicago. You must keep the point of view of city planners or any neighboring property owners in mind as you consider your rezoning plans; you don’t want to step too far out of sync.
Apply and Pay
Apply for the rezoning with the planning office, explain the plans you have and the details to rezone a property in Chicago, and be prepared to pay the application fee with an acceptable payment method.
Pay attention to the timing of review board meetings and turn in your application before the cutoff date for the next meeting.
You may need to publicize the date, time, and location of the public meeting.
Meet the rezoning assessor at the property
The zoning board should mail you a letter assessing their findings and any suggestions to be undertaken or disputed at the public meeting.
Attend the hearing and await the final vote. As you plan your project to rezone a property in Chicago and when you may get started, you should be aware that should the rezoning require official legislative updates, there may be delays after the approval.
If the board denies your application, you can hire a zoning attorney and appeal the decision in court.
Assembling Your Application
There will be costs associated with creating your plans for submission and any supporting documents to help your case with the zoning board. Pay attention to your message, communicate clearly and take this opportunity to get the board to understand the benefits of your proposal to the community. A well-thought-out presentation can make the difference in winning over the zoning board and save you valuable time and money. For this reason, it is more than worth working with a team of pros, like those at Chicago Home Buyers, to get it right the first time.
Calculated by property size, the application fee can cost hundreds to thousands.
A notice will need to be posted and updated on site.
If necessary, you may incur costs for revisions to your rezoning plans and supporting documents, depending upon any suggestions from the board.
There are fees associated with publishing your notice regarding the rezoning hearing.
Should any legal documents be required, you may encounter attornies fees for this service.
Letters of Credit/Bonding
Again, if necessary, you may encounter costs associated with presenting your letter of credit to the board stating the length of time the letter of credit lasts, typically a year, providing security that the project has enough funding to be completed.
Finally, appeals requiring legal assistance cost both time and money.
Chicago Home Buyers
With no commissions, hidden fees, and closing costs, Chicago Home Buyers saves you time and money. Chicago Home Buyers will buy your land for cash, and the closing can be in as little as a few days. At Chicago Home Buyers, when you work with one of our direct buyers, we stop and take the time to listen to your unique circumstances and help you understand if a direct sale to Chicago Home Buyers is the best solution for your situation. A direct buyer from Chicago Home Buyers will detail the general costs to rezone a property in Chicago, so you can compare them to our offer, which you’ll agree is fair. A direct sale of your land to Chicago Home Buyers makes the process hassle-free, quick and easy. Call Chicago Home Buyers at (312) 300-2043.
If you are in the market to rezone a property in Chicago to better suit your plans, Chicago Home Buyers can help you find a parcel of land to accomplish your goals. Working with Chicago Home Buyers to rezone a property in Chicago makes the process easy for investors like you. And don’t forget to ask about our current inventory of the best investment property available in Chicago. With Chicago Home Buyers, you hire an entire team of experts who know how to get the job done! Contact Chicago Home Buyers at (312) 300-2043.