In this article published by IICLE (Illinois Institute for Continuing Legal Education), authors Brian Meltzer and Vickie Bresnhan (of Meltzer Purtill and Stelle / MPS), provide a comprehensive review of the history and likely future of legislation and trends regarding condominiums and CICs (common interest communities) in Illinois. As the authors of Chapter 5 of the 2021 edition of IICLE, they offer an overview of condominium legislation and status, including Illinois’ drawbacks in failing to adopt formal updates to the original Condominium Act of 1963. Meltzer and Bresnhan argue that this oversight has resulted in a patchwork approach to amending the original Act. The article offers insight into a variety of topics, including (but not limited to) tax considerations, property ownership types, alternatives to traditional associations, project documentation, specifics applicable to large, partially-completed and/or distressed condominium projects, legislation specific to Illinois projects, and more.
January 18, 2021
CONDOS AND COMMON INTEREST COMMUNITIES IN ILLINOIS — A LOOK BACK AND SUGGESTIONS FOR GOING FORWARD
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