Naperville, IL asked in Business Formation for Illinois

Q: Need guidance with creation of Series LLC in Illinois. Need to put 3 rental properties in this.

Can I create this online and file with the state? What do I have to do? I have Hyatt Legal Plan but that does not cover this. Any guidance will be sincerely appreciated.

Related Topics:
2 Lawyer Answers
Cynthia Rote
Cynthia Rote
PREMIUM
Answered
  • Rockton, IL
  • Licensed in Illinois

A: Yes. Go to the Illinois Secretary of State's website, business services division and you can find a lot of information there on how to create Series LLCs. There are certain steps you should take after creating them. For example, you will need a separate operating agreement for all of them, separate bank accounts, etc. You may want to reach out to an attorney to assist you. Good luck!

T. J. Jesky
T. J. Jesky
Answered
  • Chicago, IL
  • Licensed in Illinois

A: The State of Illinois could not make it easier to form a LLC. Go to the link:

https://www.cyberdriveillinois.com/departments/business_services/organization/llc_instructions.html

At the bottom of the page on this link, hit the button that says "File." You will be asked a number of

questions, which will guide you through the process. At the end of all of the questions, you submit

your filing and pay your fee, and the LLC will be formed by the Illinois Secretary of State.

I believe the filing fee to form an LLC in Illinois is $150. It takes about two week to process. If you

are in hurry, you can pay an additional $100 as an expedite fee,, and it will be formed in less than

24 hours.

Before you go the link above, let me suggest you search LLC's on the Secretary of State's website,

to make sure that no one has already registered an LLC under to name your want.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.