Big Potential For Evanston Property Owners
Last week the City of Evanston loosened restrictions on the building of accessory dwelling units in the hopes of opening up more affordable housing within the city limits. This new ordinance means big business for property owners looking to expand on their rental portfolio or earn income from home.
We at Airoom are experts at navigating these city zoning laws. With our FREE in-home consultation, we can help you fully realize your property's potential using Evanston’s new regulations. Airoom can even refinance your property to cover the cost of your remodel and put you on the fast track to earning income from your home.
Read on to learn more about the new real estate opportunities available to Evanston property owners.
Coach house development
Property owners are now allowed to develop part of their home to earn rental income. This new ordinance allows for a second story addition over an existing garage, garage conversion, basement or attic conversion and if there is room, develop a stand-alone unit in the yard.
Evanston regulations previously required lots be at least 35 feet wide with a minimum size of between 5,000 to 7,200 square feet depending on location. This left a lot of smaller properties in the city unused or underdeveloped. This new ordinance will allow for more modest homes to be built on much smaller lot sizes, making property ownership much easier and giving landlords other opportunities to develop rental properties within the city limits.
Larger homes in Evanston now have the ability to remodel their current footprint into 2-4 units, turning 50 to 75% of their home into a rental property.
Shared Living Space
Previously Evanston only allowed up to 3 nonrelated people to live together in one home. This put major restrictions on the elderly and college students who often seek out shared housing to accommodate their lifestyle. By loosening this regulation property owners now have the ability to remodel their homes shared living space to help market to this particular demographic.
If any of these opportunities are of interest to you, Airoom can help. For over 60 years Airoom Architects Builders & Remodelers has been designing and building home remodeling and custom home projects throughout Chicagoland. With over 20,000 projects under our belt, including thousands working on the historic homes in Evanston, we provide one point of responsibility. Combining design expertise, product selection, supervised construction, and service and warranty…all under one roof.
Regardless of the type of project, we are here to help guide you through the process. To learn about the possibilities in your Evanston property, call Airoom today at 847-994-3861 or visit Airoom.com to set up your free design consultation, which includes complimentary 3-D renderings to help you visualize your projects potential.