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
A recent federal court ruling has cast doubt over the Corporate Transparency Act (“CTA”), a federal law that broadly imposes certain reporting requirements by January 1, 2025 and applies to most condominium and community...more
In 2021, Congress enacted the Corporate Transparency Act (“CTA”) in an effort to protect the U.S. financial system from illicit use. Generally speaking, the CTA requires business entities operating in the U.S. to report...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
On July 20, 2022, a new ordinance called the “Electric Vehicle Right to Charge Ordinance” was proposed to the Chicago City Council – Committee on Housing and Real Estate. The proposed Ordinance grants unit owners (and...more
On June 22, 2022, the City of Chicago adopted a new ordinance commonly referred to as the “Cooling Ordinance”. The Cooling Ordinance modifies the cooling requirements for certain residential buildings, which does include...more
On Wednesday, February 9, 2022, Governor Pritzker announced to media that he anticipates lifting the statewide indoor mask mandate for venues other than schools, hospitals, and public transit on February 28th due to declining...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
On Tuesday, December 21st, the City of Chicago announced to the media a vaccine mandate for certain indoor public areas pursuant to Order of the Commissioner of Health of the City of Chicago No. 2021-2. The vaccine mandate...more
12/28/2021
/ Americans with Disabilities Act (ADA) ,
City of Chicago ,
Coronavirus/COVID-19 ,
Entertainment Venues ,
Hospitality Industry ,
Immunization Records ,
Masks ,
Religious Exemption ,
Resorts & Restaurants ,
State and Local Government ,
Vaccinations
On Thursday, November 12, Mayor Lightfoot issued a Stay-at-Home Advisory (“Advisory”) to all Chicago residents due to the rapid increase of COVID-19 cases and hospitalizations in the City of Chicago. Here is a summary of...more