Our first eviction experience turned into a year-long saga of legal hurdles, thousands in lost revenue, and unexpected emotional challenges. We navigate the complex process of evicting non-paying tenants from our commercial property in Chicago while balancing business decisions with human impact.
• Notice requirements for tenant termination in Chicago (120 days for tenants who've lived there over 3 years)
• Impact of problem tenants on other units and building conditions
• Timeline from notice to actual eviction spanning nearly 12 months
• Legal procedures including court dates, default judgments, and sheriff scheduling
• Importance of not accepting rent after termination notice
• Financial impact: over $10,000 in losses from legal fees and missed rent
• Emotional reality of eviction day with six sheriff officers and social workers
• Cash-for-keys as a potentially better alternative to formal eviction
• Location matters - eviction laws vary significantly between different states and counties
• Single-unit rentals carry higher risk compared to multi-unit properties
If you're considering real estate investing, understand that evictions are sometimes unavoidable but should be your last resort. The financial and emotional cost makes cash-for-keys deals worth considering before entering the lengthy court process.
