It’s always hard to explain the eviction process to a client. I put together this diagram that shows the flow of a forcible entry and detainer case, which is otherwise known as an eviction. Landlords always refuse to accept the fact that it’s difficult to recover rent in an eviction case. My estimate is that [...]
Estate planning and real estate in the Land of Lincoln
Category Archives: Real Estate Rental
How to create an Illinois Series LLC
A few years ago, Illinois authorized the Series Limited Liability Company (LLC). A Series LLC is used primarily by real estate investors to hold title to multiple parcels of real estate. This presentation explains how to set up a series LLC in Illinois.
Series LLC comes to IL
Delaware pioneered the Series LLC. It’s an LLC that can have different series within one LLC entity. In August 2005, IL approved a similar statute. Once the bugs are worked out, a Series LLC may be the perfect vehicle for real estate investors. Each property could be put in a different Series. There would be [...]
