About the Insurance Claim
Can I Sell While the Claim Is Still Open?
Yes. The claim and the building are separable and who keeps the proceeds is a negotiated term. Tell any buyer at the outset. One who suggests concealing it from your carrier has told you something useful.
My Fire Claim Has Dragged on for Months. Do They Owe Me Anything?
An explanation, in writing. Illinois regulation requires a written explanation for delay once a fire and extended coverage claim passes 75 calendar days from the date reported or 25 calendar days after proof of loss, whichever comes first. If neither has arrived, that is a documented failure.
The Denial Letter Just Says the Claim Is Denied.
That does not meet the regulation. An Illinois denial must identify the specific policy definition, limitation, exclusion or condition being relied on, and a notice about the Department of Insurance must accompany it.
The Claim Was Denied Outright. Is the Building Still Worth Anything?
Yes. A denial affects your recovery from the carrier, not the value of the structure or the land. Denied and uninsured losses are common and we buy both.
My Mortgage Servicer Is Holding the Money.
Normal, and a genuine obstacle if you intended to fund the rebuild yourself. Servicers commonly release proceeds against completed work, which is one of the more common reasons owners sell rather than restore.
About the Building
The Inside Is Gutted but the Brick Walls Are Standing. Teardown?
Usually not. A sound load-bearing masonry shell is the most valuable thing left after a Chicago fire. It removes the demolition cost and much of the structural rebuild, and it frequently makes repair the better answer.
How Do I Know If the Brick Is Still Sound?
A structural engineer, not a general contractor and not a buyer. Heat and water can compromise masonry in ways that are not visible, and it is the single question that most affects your figure. Worth paying for an independent answer before entertaining offers.
Can I Just Demolish It?
Not always, and not quickly. Where a Chicago building is rated orange or red in the 1996 historic resources survey, no demolition permit may issue for up to 90 days while the city considers preservation. The hold does not apply where the city determines in writing that the building is imminently dangerous.
Can I Pull the Demolition Permit Myself?
Not in Chicago. Only a city-licensed general contractor with a wrecking bond on file may obtain a wrecking permit. Suburban municipalities have their own rules and the county issues the demolition permit outside the city.
The Building Is Boarded and the City Has Cited It.
Citations and building court matters have to be resolved or accounted for at closing but they do not prevent a sale. Raise them early — found in week three they cost far more time.
My Two-Flat Had Tenants. Does That Matter Now?
Yes, and it is the first thing to establish. Tenancy obligations can persist even where units are uninhabitable and they affect what may lawfully be done with the building.
About the Sale
What Does It Cost Me?
Nothing. No fee for the figure, no commission, no repair spend and no obligation if you decline.
Who Pays the Transfer Taxes?
Customarily split in Chicago, which surprises people. The seller pays the state and county portions and part of the city tax; the buyer pays the larger share of the city portion. The contract governs the actual allocation, so check what an offer assumes.
How Fast Can You Close?
Quickly where title is clean, slower where an estate has not been through probate. Illinois closings also run through attorneys on both sides with a review period, which adds structure and a few days.
Do I Have to Disclose the Fire?
You must disclose material defects you actually know about. Illinois does not require you to investigate to find defects you are unaware of, and it expressly preserves the right to contract in as-is condition — which is a narrower duty than several other states impose.
Should I Take the Highest Offer?
Only after establishing it will close. Compare the figure, the funding, the contingencies and whether the contract can be assigned.
About the Paperwork
The Owner on the Deed Has Died.
The estate has to be able to convey, which usually means probate. It is the most common cause of delay on Chicago fire property and worth starting even before you decide whether to sell.
There Is a Contractor's Lien on the Building.
It clears at closing, usually from proceeds. Disclose it early.
Where Do Deeds Actually Record?
The Cook County Clerk at 118 North Clark Street, which absorbed the Recorder of Deeds office in December 2020. Anything referring you to the Recorder is out of date. Properties outside Cook record with their own county.
Several Relatives Are on Title and We Disagree.
Every owner of record has to sign. Where co-owners disagree that is a legal question rather than a pricing one, and worth resolving before soliciting offers.
I Live out of State. Can I Sell Remotely?
Yes. Illinois closings handle remote signing routinely and out-of-state owners are common on inherited buildings.
If your question is specific to your building — and the good ones usually are — send the address. The answer often differs depending on which side of the city boundary you are on, and our service area index sets out which authority governs where.