Condo Law Watch

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condominium

Advice for Boards in Mixed-Use Projects

Mixed-Use Developments – Conflicts Mixed-used condominium projects have been steadily increasing throughout Illinois. It is unsurprising, considering that locating commercial spaces within condominium projects can benefit both the residents within these communities, as well as the owners of these establishments…. Continue Reading →

Condo Associations Entitled to Recover Post-Judgment Attorneys’ Fees, Lease Unit Despite Payment by Owner

The Forcible Entry and Detainer Act provides associations with the right to take possession of a unit when an owner fails to pay assessments and other common expenses to the association. If the association received a judgment and an order… Continue Reading →

New Standardized Condo Project Questionnaires Provide Greater Consistency & Clarity for Lenders

In an effort to provide greater consistency and clarity for mortgage lenders as they work to collect information to determine eligibility for mortgages secured by units in condominiums, government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac recently released two standardized… Continue Reading →

Illinois Appellate Court Invalidates Condominium Leasing Cap From Rules and Regulations

For years, associations have adopted different forms of leasing restrictions. In many instances, those restrictions were adopted to combat decreased owner-occupancy rates in order to keep the condominium eligible as a HUD-approved condominium project, which allows owners and buyers to… Continue Reading →

2016 Brings New Legislative Changes For Condominium Associations

As we kick off 2016, it is important to bear in mind the legislative changes directly impacting condominium associations that will become effective this year, specifically June 1, 2016. Certain amendments will impact not only when key association meetings may… Continue Reading →

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