Multi-Unit Building Purchase in Chicago
In Chicago, selling a two-flat, three-flat, or four-unit building for cash means no tenant showings, no income verification, and no financing delays.
As a multi-unit building purchase specialist in Chicago, we buy 2-4 flats directly—no matter the tenant situation or building condition. Property owners receive cash offers within 48–72 hours and can close in 10–21 days.
Occupied units? We buy with tenants in place and assume all leases. Vacant units losing money? We buy partially vacant buildings. Code violations? We handle compliance after closing. Deferred maintenance? We buy as-is.
If you're searching "sell my multi-unit building Chicago" or "we buy apartment buildings," we purchase two-flats, three-flats, and four-unit buildings across the city. Whether you're a tired landlord, estate executor, or investor ready to exit—we provide fast cash purchases.
Multi-Unit Building Buyers Purchase Chicago 2-4 Flats with Tenants in Place
No need to coordinate showings with tenants. No need to wait for leases to expire. No need to offer cash-for-keys to clear units.
We purchase with tenants in place and assume all existing leases. Sellers avoid vacancy loss and tenant conflicts during sale.
Chicago's Residential Landlord Tenant Ordinance (RLTO) protects tenant rights during ownership transfers. We handle all lease assignments, security deposit transfers, and tenant notifications per RLTO requirements. You don't manage the transition—we do.
Tenant situations we handle:
Long-term tenants with below-market rents
Month-to-month tenancies
Leases expiring within 90 days
Section 8 voucher holders
Mix of occupied and vacant units
Tenants behind on rent
The tenant situation doesn't stop the sale. We evaluate rent rolls, lease terms, and unit occupancy when calculating offers. You don't evict anyone or wait for vacant possession.
Selling a Multi-Unit Building for Cash Avoids Lengthy MLS Listings and Investor Financing
Traditional multi-unit sales take 60–90 days minimum. Investor buyers need financing. Lenders require:
Appraisals (15–30 days)
Rent roll verification
Lease document review
Debt service coverage ratio analysis (DSCR)
Borrower income verification
25–30% down payment
Deals fall through when appraisals come in low, rent rolls don't support loan amounts, or buyer financing gets denied.
Cash transactions eliminate 45–90 day financing periods. No income verification. No DSCR requirements. No appraisal contingencies.
Cook County's transfer tax (0.10%) and Chicago's Real Property Transfer Tax (0.75%–1.05%) add closing costs. We cover these expenses—you net the full offer amount.
Chicago Landlords Sell Multi-Unit Properties to Eliminate Vacancy and Maintenance Problems
Chronic vacancies create negative cash flow. Property taxes, insurance, utilities, and maintenance continue whether units produce income or not.
Non-paying tenants require eviction proceedings. Cook County eviction cases take 4–8 months minimum with court backlogs. Legal fees add up while rent remains uncollected.
Deferred maintenance accumulates—roofs leak, boilers fail, tuckpointing deteriorates. Repair costs often exceed one year's rental income.
Selling for cash stops negative cash flow immediately. We accept partially vacant buildings and inherited maintenance backlogs.
Common maintenance issues we buy:
Roof replacements needed ($15,000–$35,000)
Boiler or furnace failures ($8,000–$20,000)
Tuckpointing and brick repair ($10,000–$40,000)
Electrical panel upgrades ($5,000–$15,000)
Plumbing system failures
Porch reconstruction and repairs
Foundation issues and settling
Chicago's extreme winters cause boiler failures and frozen pipe damage. We purchase buildings with deferred HVAC and structural repairs. You don't fund repairs or coordinate contractors.
Cash Buyers Purchase Multi-Unit Buildings with Code Violations and Deferred Repairs
City citations for porches, electrical, or building envelope violations don't stop cash sales.
We close despite open Department of Buildings cases, expired permits, and failed inspections. No violation resolution required before sale.
Code violations we handle:
Porch structural failures and safety violations
Electrical code violations (outdated panels, knob-and-tube wiring)
Building envelope violations (deteriorating brick, failed masonry)
Occupancy violations (illegal basement units)
Fire code violations (missing egress, inadequate fire separation)
Plumbing violations (lead service lines, illegal connections)
Many Chicago brick two-flats and three-flats built 1900–1930 need tuckpointing, new windows, and updated electrical systems. Original masonry shows age-related deterioration. Limestone foundations crack and crumble.
We accept these buildings as-is. Violations transfer to us at closing. We handle compliance, permits, contractors, and city negotiations after closing.
Estate Executors Sell Inherited Multi-Unit Buildings Quickly for Cash in Chicago
Managing inherited rental properties from out of state creates problems—tenant calls, maintenance emergencies, rent collection, RLTO compliance.
Heirs without landlord experience face steep learning curves. Multiple heirs rarely agree on property management decisions.
We coordinate with estate attorneys, handle probate timelines, and purchase buildings without requiring heir improvements or tenant management.
Inherited building situations we handle:
Heirs living out of state or internationally
Multiple heirs with conflicting priorities
Below-market rents from decades-old leases
Long-term tenants requiring lease buyouts
Buildings needing $50,000+ in deferred maintenance
Outdated lease agreements and tenant disputes
Many inherited Chicago buildings have outdated leases, below-market rents, or long-term tenants paying half of current market rates. We evaluate these factors fairly and make offers based on actual rental income, not theoretical market rents.
Multi-Unit Building Sales Close Faster Without Buyer Income Analysis or Appraisals
Need quick liquidity for 1031 exchanges? Debt payoffs? Business investments? Cash deals close in 10–21 days versus 60–90 days with financing.
What cash sales skip:
1004D appraisals (multi-unit specific)
Rent roll verification and income analysis
Lender underwriting and approval process
Buyer debt service coverage ratio (DSCR) analysis
Buyer employment and income verification
Property condition requirements for financing
Appraisal contingencies and renegotiations
Chicago's rental market fluctuates by season. Spring brings higher demand and rents. Winter sees increased vacancies. We make offers year-round without waiting for seasonal leasing activity.
We evaluate buildings based on current rent rolls, market rents for the area, building condition, and neighborhood fundamentals. Seasonal vacancy doesn't disqualify properties.
How Does Selling a Multi-Unit Building for Cash Work in Chicago?
Step 1: Contact
Share basic details about your Chicago two-flat, three-flat, or four-unit building—address, unit count, and tenant status.
Step 2: Property Review
We evaluate location, rent roll, building condition, and Chicago zoning—often with a walkthrough.
Step 3: Offer & Acceptance
Receive a no-obligation cash offer within 48–72 hours based on current market and rental income.
1f you agree, we coordinate with a Chicago title company and handle all contracts.
Step 4: Tenant Coordination and Closing
We manage tenant notifications and lease transitions per Chicago RLTO.
Receive full cash payment at closing with no commissions or buyer financing contingencies.
Why Sell Your Multi-Unit Building to Us
Buy with Tenants in Place: No showings, no lease buyouts, no waiting for vacant possession.
No Repairs Required: We accept deferred maintenance, code violations, and aged building systems.
Fast Closings: 10–21 days versus 60–90 days with traditional sales.
Cover All Closing Costs: We pay Cook County transfer tax, Chicago transfer tax, title fees, and attorney costs.
No Commissions: Save 5–6% in real estate commissions on six-figure sale prices.
Handle RLTO Compliance: We manage tenant notifications, security deposits, and lease assignments per Chicago law.
Accept Problem Buildings: Negative cash flow, vacancy issues, tenant disputes, code violations—we buy them all.
Ready to Sell Your Chicago Multi-Unit Building?
Stop managing problem tenants and expensive maintenance. Get a cash offer today.
Call: (312) 975-5557 Available 7 days a week
Get Your Cash Offer Fill out our form—receive an offer within 48–72 hours
Email: connect@delloinvestments.com Send us your property address, unit count, and rent roll
FAQs: Selling Multi-Unit Buildings in Chicago
How quickly can I sell my multi-unit building for cash in Chicago?
Most Chicago cash buyers provide offers in 48–72 hours and close in 10–21 days depending on title review and tenant lease analysis. Our typical timeline from initial contact to closing is 14–21 days.
Will a cash buyer purchase my Chicago building with tenants still living there?
Yes. We purchase occupied buildings and assume existing leases per Chicago landlord-tenant law (RLTO). You don't coordinate with tenants or wait for lease expirations. We handle all tenant transitions at closing.
Do I need to fix code violations before selling my multi-unit building in Chicago?
No. We purchase buildings with open Department of Buildings violations and handle compliance after closing. Active violations don't stop the sale—they transfer to us at closing.
Can I sell an inherited two-flat or three-flat in Chicago to a cash buyer?
Yes. We work with estate executors and probate attorneys to purchase inherited multi-unit properties. We buy during probate or after estate settlement. Heirs don't need to make improvements or manage tenants.
What types of multi-unit buildings do Chicago cash buyers purchase?
We purchase two-flats, three-flats, and four-unit buildings—including vintage brick walk-ups built 1900–1950 and newer construction. Property age doesn't disqualify buildings from purchase consideration.
Do cash buyers charge commissions or fees when purchasing multi-unit buildings in Chicago?
No. Reputable cash buyers cover closing costs and charge no agent commissions. Sellers receive the full offer amount minus no deductions. We pay transfer taxes, title fees, and all closing costs.