Posted by Brent_IL on November 28, 2000 at 03:57:32:
Check the legal to make sure the lots are actually deeded separately.
Once I bought a vacant lot at a tax sale in Chicago. I thought I was slick. It was next to a three-flat on which I had an offer pending. Offer not accepted. It turned out that the lot was too small to build anything on. A grandfathered garage was the only thing on the property. It had collapsed. I got a city notice to tear down and remove the garage, or pay to repair it. Taxes were low, so I told a local carpenter that he could rebuild the garage and rent it for storage. He repaired the roof and ignored the cosmetics. I got three windows plus installation in a building long-gone. He got the lot and $110.00 a month. Plus annual increases. Forever. Hmmm. I guess I wasn?t too slick the second time around either.