January 2017

Co-opdominium: A Path to Affordable Condominium Unit Ownership

Attorney: 

Introduction

For decades, condominium developers made a profit by splitting the ownership of multifamily buildings into individual units and selling them at retail for significantly more than it cost to acquire or build the building. After the housing crash, circumstances were reversed, at least as it relates to those condominiums which fall into the category of what...

How to Sell Yourself A Road Map for Condominium Associations

Attorney: 

The purpose of this paper is to lay out a suggested procedure for a condominium association which desires to sell its property to do so in an orderly manner that will maximize the distributions to the owners with the minimum amount of time, effort, and conflict.

A. Background/De-Conversion Phenomena.

Condominiums were first authorized in Illinois in 1963 when the Illinois...

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