In most condo and co-op communities, the hope (if not the expectation) is that your neighbors are vested owners or shareholders whose units are their primary residence. To that end, the majority of co-ops forbid the renting out of units out…
It may come as a surprise to many that federal disaster recovery assistance is not available for the country’s co-ops and condos the same way it is for single-family homeowners. This discrepancy in the law became apparent after 2012’s Sup…
When a property or individual finds itself or himself in a situation that threatens the continued economic viability of the asset or estate our laws provide a supervised level of assistance from qualified third parties. In the case of real…
Is a condominium - or any type of common interest community - actually a democracy? Do shareholders have unfettered access to the documents and information boards use to make decisions? Can they demand to see those documents? The answer …
In our recent article, 'Bulk Sales in Chicago’s Condo Market,' ( https://chicagocooperator.com/article/bulk-sales-in-chicagos-condo-market ), CooperatorNews Chicagoland examined the unique circumstances governing bulk sales in Illino…
A recent decision in Illinois Appellate Court will bring relief to condominium owners involved in lawsuits with real estate developers over construction defects not disclosed in the engineering reports provided during the purchasing process…
Boards are usually composed of volunteers who work regular jobs when they're not helping to govern their building or association. It's not often that those jobs are as attorneys or other legal professionals, so it's probably not surprising …
It’s a question we’re asked all the time: “Can we use reserves to cover an operating fund shortfall?” Under normal circumstances, our standard response would be an emphatic “No!”—because reserves are for major repair and replacement project…
Whether you’re living in a co-op apartment building in Manhattan, a condo on Chicago’s Gold Coast, or a townhouse community or HOA in Las Vegas, Reno, or Florida, issues of legality and liability are always a concern for owners, board membe…
According to a recent piece in Chicago Agent Magazine , the office of the Cook County Recorder of Deeds, which has been closed due to the ongoing coronavirus pandemic, is now able to accept and record plans and condo declarations with a …