Permits? We don't need no stinking permits! Lincoln Square 4 unit gut renovation shut down

5134 N Oakley, Chicago IL 60625

5134 N Oakley (shown above) is a four unit building in Lincoln Square that sold in 2017 for $550K. A steal! Yet, the new ownership elected to completely gut the building without permits. The City of Chicago Department of Buildings has stopped the work (see big yellow sticker on door).

A truck backs up over the sidewalk as construction debris is launched out the windows.

I still find it hard to believe someone would proceed with a large scale gut renovation in a desirable, tight knit neighborhood without building permits. Two brick bungalows in the immediate area were torn down in recent memory without permits (2236 W Carmen and 2237 W Winona). Both projects were delayed (shut down for a time) but my guess is the penalties were not steep enough.  How do you tear down a house illegally and still get to profit?