Condominiums (condos) are private real estate units that are owned within a larger building or complex. As part of a condo association, individual members own their specific units and they have a joint ownership interest in the common areas. Condo law is the body of law that governs the rights and responsibilities of individual owners and the community association.
Understanding Condominium Law in Illinois
One of the most important things to know about condo law is that it exists at the state level. State statutes create condominiums. The key statute that governs condos in Illinois is the Illinois Condominium Property Act ((765 ILCS 605/1, et seq.)). Both condo owners and condo boards should understand the implications of this law.
Including state law, there may also be local regulations that govern condo associations. For example, the Chicago City Council has enacted regulations that affect the rights and duties of condo owners and community associations. Navigating condominium laws can be complicated. If you have any specific questions, you should seek guidance from an experienced legal professional.
Call Our Illinois Condominium Law Attorneys Right Away
At Keough & Moody, P.C., we are a full-service law firm representing condominium associations and homeowners associations (HOAs). To set up confidential review of your case, please contact our law firm today. From our offices in Naperville, Chicago and Tinley Park, we represent community associations throughout Northern Illinois.