City
of Chicago Municipal Code Chapter 13-72 CONDOMINIUMS Sections: 13-72-010 Definitions. 13-72-020 Contents of property report. 13-72-030 Misrepresentation or omission. 13-72-040 Discrimination. 13-72-050 Requirements for developer of more than six units. 13-72-060 Notice to tenants of intent to declare submission of property for condominium consideration required. 13-72-070 Participation in recreational facilities not owned in fee by unit owners. 13-72-080 Examination of records by unit owners. 13-72-090 Administration of chapter. 13-72-100 Rights, obligations and remedies. 13-72-110 Penalty for violation. 13-72-120 Severability. -------------------------------------------------------------------------------- 13-72-010
Definitions. "Board of mangers" means the board of managers provided and referred to in the Illinois Condominium Property Act. "Closing of the sale" means the operation transferring ownership of a condominium unit to the purchaser from the developer. "Common elements" means all of the condominium except the condominium units. "Common elements" also includes limited common elements. "Condominium" means a form of property established pursuant to the Illinois Condominium Property Act. "Condominium project" means the sale of or plan by a developer to sell or the offering for sale of residential condominium units in an existing building or building to be constructed or under construction. "Condominium unit" or "unit" means a separate three-dimensional area within the condominium identified as such in the declaration and on the condominium plat and shall include all improvements contained within such area except those excluded in the declaration. "Conversion", "convert", or like words means the offering for sale by a developer or his agent of a condominium unit occupied or rented for any purpose by any person before commencement of a condominium project which includes such unit. "Declaration" means the declaration referred to in the Illinois Condominium Property Act. "Developer" means any person who submits property legally or equitably owned by him to the provisions of the Illinois Condominium Property Act including any successor to such developer's entire interest in the property; or any person who offers units legally or equitably owned by him for sale in the ordinary course of his business. "Developer" does not include a corporation owning and operating a cooperative apartment building unless more than six units are to be sold to persons other than current stockholders of the corporation. "Offering" means any indictment, solicitation, advertisement, publication or announcement by a developer to any person or the general public to encourage a person to purchase a condominium unit in a condominium or prospective condominium. "Person" means a natural individual, corporation, partnership, trustee or other legal entity capable of holding title to real property. "Property report" means the property report required in accordance with Section 13-72-020 of this chapter. "Prospective purchaser" means a person who visits the condominium project site for the purpose of inspection for possible purchase or who requests the property report. (Prior code 100.2-1)
13-72-020 Contents
of property report. A description of
all property and improvements including the following: The share of ownership of each unit in the common elements. The identity of owners of such condominium unit including the percentage of former renters who have purchased or contracted to purchase a condominium unit when the property is a conversion, if known. If such units are owned in trust or by nominees, the beneficiaries or principal shall be named, if known; A description of all of the common elements in the project including a description of all existing and proposed recreational facilities, and other such facilities with the project. Limited common elements, if any, and their ownership shall also be indicated; A description of the nature and ownership of all improvements occupying the same zoning lot but which are not part of the condominium; Location, nature and ownership of easement streets and driveways on or contiguous to the condominium; The identification of drawings, architectural plans and other suitable documents setting forth the necessary information for location, maintenance and repair of all condominium facilities and equipment, to the extent these documents exist, their location, and times at which they may be inspected; Projected initiation and completion dates, for proposed construction, renovation and conversion; A description of limitations upon uses permitted in individual condominium units as contained in the declaration, and bylaws of the condominium association and applicable zoning provisions. Such description shall state whether or under what conditions the condominium units may be rented together by the unit owner; Statement as to whether a purchaser may purchase more than one unit and under what circumstances or conditions; Statement of legal ownership, listing all restrictions, notices, lis pendens and encumbrances or record; Method of timing of transfer of control of the condominium to the board of managers and the nature and extent of any interest retained by the developer thereafter; A statement disclosing the existence of penalties if the construction, renovation, or conversion or completion date is not met and the additional costs to be imposed upon unit owners if such date is not met; The nature and extent of any protection of a purchaser if the developer defaults on blanket encumbrances; A statement of any litigation which would affect the condominium or the developer's ability to convey clear title; A statement of the current taxes and estimated changes in the tax assessment of the condominium units which buyers may encounter during the first two years; Copies of the forms of sales documents applicable
to the individual units, including but not limited to: Statement of sales prices, terms, options and conditions of sale of each unsold unit, including estimated closing and settlement costs and transfer taxes; Statement of estimated monthly payments for each unit to be itemized as to taxes, utilities, operating costs, assessments, parking, recreational facilities and all other payments in the first year after the projected date of assumption of control by the board of managers; If financed by the developer, the proposed financing of each unit, including percent of sales price required for down payment, duration of the loan interest rate, service charge, appraisal charge, closing charges, and total monthly payment; A description of all appliances and person property included with each
unit; A statement
of management and expected management costs of the condominium including: An estimated operating budget, including
the basis on which each item included in such operating budget was formulated
for the condominium projected for a period of one year from the expected date
that control of the condominium project passes to the board of managers. The operating
budget shall include at least the following: Manage costs Reserve costs If
no reserve is provided for any one or more of the costs listed herein, the following
statement must be inserted in the property report in a type the size and style
equal to at least 10 point bold type: Provisions, if any, the developer has made to cover the proposed operations and maintenance budget in the event an insufficient number of units are sold; If a conversion, a report from a qualified licensed engineer or registered
architect describing the condition and expected useful life of the roof,
foundation, external and supporting walls, mechanical, electrical, plumbing,
heating, and structural elements and all other common facilities, together
with an estimate of repair and replacement costs, for those items needing
repair or replacement, at current market prices. This report shall include
the approximate dates of major repairs to such facilities. There shall
be attached to such report (1) a statement of the developer that no
notice of violations of the building provisions of the Municipal Code
pertaining to the condominium building have been received by the owner
or his predecessors for 10 years preceding the property report and its
latest amending or (2) a list of all notices of violations of the building
provisions of the Municipal Code received, together with a detailed
statement of all violations referred to in such notices, for the prior
10 years; A description of the location, ownership, and availability
to unit owners and the general public of accessory off-street parking associated
with the condominium. If all of such parking facilities are not (a) part of the
common elements or (b) divided as individual parking space among and designated
as being part of the units, the following statement shall be included in a type
and size and equal to at least 10 point bold type: A statement, if there are any restrictions upon the free sale, transfer, conveyance, encumbrance or leasing of a unit. THE
SALE, LEASE OR TRANSFER OF YOUR UNIT IS RESTRICTED OR CONTROLLED. The signature of
the executive officer of the developer and statement affirming that the report
and supplements, modifications and amendments are true, full, complete and correct.
Not later than 30 days prior to the recording of the declaration and the plat, the developer shall give notice of any material changes in said declaration and plat as described in the property report to each person who has executed a contract to purchase a unit. (Prior code 100.2-2)
13-72-030 Misrepresentation or omission. Back
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The board of managers shall keep a copy of the latest property report
for seven years following the date of the property report's initial
distribution. Upon reasonable notice the property report shall be made
available for inspection by any prospective purchaser of a unit from
a unit owner. (Prior code 100.2-5) Any person who was a tenant as of the date of the notice of intent and whose tenancy expires other than for cause prior to the expiration of 120 days from the date on which a copy of the notice of intent was received by the tenant shall have a right to an additional tenancy on the same terms and conditions and for the same rental unit until the expiration of such 120 day period by the giving of written notice thereof to the developer within 30 days of the date upon which a copy of the notice of intent was received by the tenant; provided, that in the case of any tenant who is over 65 years of age, or who is deaf or blind or who is unable to walk without assistance, said tenant shall have the right to an additional tenancy on the same terms and conditions and for the same rental for 180 days following receipt of said notice of intent to record by giving notice as aforesaid. During the period of 120 days following his receipt of the notice of intent, and during a period of 180 days following his receipt of notice of intent in the case of any person who is over 65 years of age, or who is deaf or blind or who is unable to walk without assistance, any person who was both a tenant on the date of notice of intent and a current tenant shall have the right of first refusal to purchase his unit. The tenant must exercise the right of first refusal, if at all, by giving notice thereof to the developer prior to the expiration of 30 days from the giving of notice by the developer to the tenant that a contract to purchase the unit has been executed. Each contract for sale of a unit shall conspicuously disclose the existence of, and shall be subject to, such right of first refusal. The statement in the deed conveying the unit to a purchaser to the effect that the tenant of the unit waived or failed to exercise the right of first refusal or had no right of first refusal with respect to the unit shall extinguish any legal or equitable right or interest to the possession or acquisition of the unit which the tenant may have or claim with respect to the unit arising out of the right of first refusal provided for in this section. The forgoing provisions shall not affect any claim which the tenant may have against the developer for damages arising out of the right of first refusal provided in this section, nor shall it affect the penalties provided in Section 13-72-110 hereof. No occupied unit shall be shown to any purchaser or prospective purchaser for 30 days after notice of intent to record, as provided herein, is given. Any notice provided for in this section shall be given by a written
notice delivered in person or mailed, certified or registered mail,
return receipt requested, to the party who is being given the notice.
(Prior code 100.2-6) 13-72-090 Administration of chapter.
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