Anyone who has ever owned property in Illinois understands that there exists a potentially never-ending cycle of property tax appeals and assessments because real estate is subject to being re-evaluated or re-assessed either on a 3-year or 4-year cycle depending on which county the property
Assessments (or dues) provide the lifeblood for condominium associations so that they can provide necessary services to the unit owners within the association, including the maintenance of common areas such as roads, sidewalks, parking areas, utilities, and elevators. In most condominium associations, the only source
When a party buys a condominium unit in a condominium development that is still in its infancy, many issues may arise, including how control of the board of managers will be transitioned from the developer to the unit owners and how the board will be
Under Section 19 of the Illinois Condominium Property Act (765 ILCS 605/19), the board of managers for a condo association is required to keep and maintain certain records, or copies of those records, at the association’s principal office. Under that section, most of those records
Assessments (or dues) are essential for condominium and common interest community associations to provide necessary services to the unit owners within the association, including the maintenance of common areas such as roads, sidewalks, parking areas, utilities, and elevators. Typically, the only source of funds for
There are certain circumstances where the best interests of a condominium is to change from a condominium structure to a rental structure for the building or buildings. One common reason given is the market at that time favors rental units over condominiums, especially if financing
