This page is offered to provide known facts about Ralph Schrader, who offers “rent to own” properties or “handyman properties” to persons willing to enter into an agreement to pay them off over time.
Ralph Schrader has been found guilty of Theft by Deception for renting homes that he does not own.
NOTE: IF YOU WOULD LIKE CCRD TO INVESTIGATE YOUR DEALINGS WITH RALPH SCHRADER – PLEASE CALL (312) 603-5936
Name: Ralph Hans Schrader
Criminal History: GUILTY-Theft by Deception; “…Cook County State’s Attorney Anita Alvarez said Ralph Schrader broke into [VICTIM’S] home last September when it was unoccupied. Schrader changed the locks and then ‘falsely posed as a landlord.'”
Doing Business As: Chicagoland Rent to Own Homes Inc. 773-499-5163. Office address 13113 S. Eberhart, Chicago.
It is alleged and believed that Mr. Ralph Schrader, doing business as Chicagoland Rent to Own Homes, Inc., identifies vacant homes in disrepair, breaks into them, changes the locks, then offers them as “rent to own” fixer-upper properties. He operates in the Roseland/9th Ward area.
According to reports, Ralph Schrader may show unsuspecting purchasers an unrecorded deed establishing his “ownership” of the property (ownership is in quotes because the deeds themselves may be fraudulent). What he doesn’t tell purchasers is that almost every home he advertises is on the City of Chicago’s demolition list for being uninhabitable, meaning they could be knocked down at any time, no matter if they are being rented. Also, the homes typically have thousands of dollars of liens and unpaid taxes against them, meaning that even if a new owner were able to purchase the home, they would need to come up with thousands more to have the water turned on or to record their new deed.
Rent-to-own transactions are very risky for buyers, because the owner typically stacks the terms of the arrangement towards their benefit. For example, the buyer could make 23 monthly payments of $500, and if they are late on the last payment, the owner could negate the whole agreement, keep all the money paid so far, and remove the lessee from the property, leaving them free to start over with a new buyer. Any property improvements made by the buyer typically are not recoverable.
Residents are urged to exercise extreme caution and not to sign any documents without an attorney’s review, taken in context with information offered on this page. Residents who choose to go forward with a transaction with businessmen like Ralph Schrader are urged to do so NOT with cash, and only in the presence of an INDEPENDENT notary, such as one at your bank. Further, it is extremely unwise to purchase a property from someone who HAS NOT recorded their deed establishing ownership at the Cook County Recorder of Deeds.
Tags: Ralph Schrader, Chicagoland Rent to Own, rent to own scam,