On May 24, 2024, the Illinois legislature approved legislation to amend the Illinois Condominium Property Act (“ICPA”) to impose certain new requirements related to parking for “a unit owner who is a person with a disability...more
In the wake of the tragic 2021 condominium building collapse in Surfside, Florida, Fannie Mae (“Fannie”) and Freddie Mac (“Freddie”) adopted temporary eligibility guidelines for loans insured by Fannie and Freddie for...more
In the wake of the tragic condominium building collapse in Surfside, Florida, Fannie Mae issued new temporary eligibility guidelines for loans insured by Fannie Mae for condominium units or co-op apartments which are...more
1/27/2022
/ Condominiums ,
Consumer Financial Products ,
Fannie Mae ,
Financial Regulatory Reform ,
Financial Services Industry ,
Housing Market ,
Lender Letters ,
Maintenance ,
Mortgage Lenders ,
Mortgages ,
Regulatory Requirements ,
Repairs
Effective January 1, 2015, Section 18.4 of the ICPA was amended to permit a condominium Board of Directors to adopt and amend its rules and regulations to allow for electronic delivery of notices and other communications...more
On March 21, 2014, the Illinois Appellate Court entered a Rule 23 Order in Palm vs. 2800 Lake Shore Drive Condominium Association ("Palm II"). A Rule 23 Order may not be cited as precedent in other cases in Illinois courts,...more
On March 20, 2014, the Illinois Supreme Court published its court ruling in Spanish Court Two Condominium Association v. Lisa Carlson, 2014 IL 115342, which reversed a lower court’s opinion that a unit owner may raise as a...more
Chicago Tribune Condo Adviser columnist Howard Dakoff on the factors behind modifying a unit to aid disabled owners. Howard is a partner in the Community Associations Practice Group of Levenfeld Pearlstein, LLC....more
Chicago Tribune Condo Adviser columnist Howard Dakoff explains why you are out of luck if your condo board member doesn't pay up. Howard is a partner in the Community Associations Practice Group of Levenfeld Pearlstein, LLC....more
Chicago Tribune Condo Adviser columnist Howard Dakoff describes what to do when complaints to a condo board aren't in writing. Howard is a partner in the Community Associations Practice Group of Levenfeld Pearlstein, LLC....more
Chicago Tribune Condo Adviser columnist Howard Dakoff explains why there's not always a one size fits all formula for calculating town home assessments. Howard is a partner in the Community Associations Practice Group of...more
Chicago Tribune Condo Adviser columnist Howard Dakoff explains what happens when condominium rules are violated.
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Chicago Tribune Condo Adviser columnist Howard Dakoff on how association and unit owners may address concerns over adjacent developments, and the likelihood they could object....more
Chicago Tribune Condo Adviser columnist Howard Dakoff on the benefits of, and myths surrounding, loans backed by the Federal Housing Administration....more
In This Issue:
- Short title
- Definitions
- Applicability
- Submission of property
- Declaration--Contents
- Construction, interpretation, and validity of Condominium Instruments
- Plat to be recorded
-...more