Blog
In recent years, more and more property managers have delegated to third-party vendors the responsibility of producing condominium documents and disclosures needed for real estate transactions under the Illinois Condominium Property Act. Although it is actually the seller’s attorney that completes the basic data entry in order to obtain the necessary condominium documents, it is the third-party vendor and property manager who then charges upwards of several hundreds of dollars for this “service”.
As we take stock of 2021, we note that there were no major changes or amendments to the Illinois Condominium Property Act. Given the relative silence coming out of Springfield, we conclude that the tragic Surfside Tower collapse is the most substantive development to impact our condominium association clients this year. While this tragic event had no immediate impact on Chicagoland condo owners, we believe it will alter association governance for years to come.
The coronavirus pandemic has placed condominium associations, its boards and managing agents in unfamiliar territory. Multi-family housing communities are predicated upon close proximity living quarters, however, associations should be mindful of the impact that COVID-19 has on their communities and residents during this challenging time. This article will explore how condominium boards must balance the ubiquitous social distancing requirement with their ongoing duties to run the affairs of the association, as well as proactive steps associations should take to ensure the health and safety of its residents and communities.
As with virtually every profession, our firm’s real estate law practice will fundamentally change for the foreseeable future due to the COVID-19 pandemic. Even under a best-case scenario, with the shelter in place order being lifted and some sense of normalcy returning later this spring, it will not be business as usual for quite some time. A discussion of the legal term force majeure has been popping up with great frequency in recent days on LinkedIn posts and many law firm newsletters. This article will provide my insight on this subject, and other challenges facing commercial and residential transactions in 2020 and beyond.
Per the Cannabis Regulation and Tax Act, beginning on January 1, 2020, Illinois will become the 11th state to decriminalize recreational marijuana. That means that once we ring in the New Year, condominium unit owners, their guests and tenants are free to smoke marijuana in their units, and on their balconies and patios.
