Condominium Developments and Homeowners Association Agreements in Chicago, Illinois
Preparation for Condominium Development Can Be Tricky. Get the Legal Help You Need.
While condominium development is common in the Chicago real estate field, it has a distinct set of laws, and entirely different legal documentation than other types of real estate. With multiple owners and varying HOA Agreements, this branch of real estate law takes experience to navigate. Our Real Estate Attorneys in Chicago can help you through the condominium development process, from initiating development, to the condominium closing meeting.
Condominium Development Services:
- Initiating Condominium Development: Developers who want to create a condominium must declare their intent, and outline the Association’s bylaws and floor plans. If they're buying land or property, they'll need to clear the title to make sure their are no liens attached. Any documents must be filed with the recording officer within your jurisdiction. We can help you develop the correct documents and file them with the appropriate people.
- Developing Legal Framework: Each type of condominium requires a specific legal framework that includes every aspect of construction and sale. For example, there are simple "exclusive" private ownership condos, undivided “shared ownership” condos, or there can be more complex arrangements. Furthermore, when you decide to sell, we'll evaluate the buyer's purchase and sale agreement or develop one for you. Our real estate attorneys work closely with developers every step of the way to make sure your project is a success.
- Dispute Resolution: We’ll also handle a variety of homeowners association litigation and dispute resolution matters. For example, we’ll work to enforce covenants, conditions and restrictions of the homeowners association, which are the promises that members of a homeowners association agree to make to each other in order to be a part of the association. In the event that a dispute arises, contact a Chicago real estate attorney to make certain that the dispute is handled in the most efficient and effective manner possible.
Developing an HOA Agreement that Protects The Association is Key
You’ll want to consider the following (and more!) when developing or evaluating your HOA Agreement:
- Barriers to Home Businesses: Owners may want to run a business, such as a therapeutic practice or daycare center from their condo. Consider whether this should be allowed in homeowners association agreement, as it could be a disruption to other owners.
- Limits on Leasing: Many HOA agreements require that the units be owner-occupied, or they outline rules and include leases which contain specific restrictions for tenants. These distinctions are important for the health of an association and should be clearly outline by the association. A qualified real estate attorney can help develop leasing rules.
- Restrictions on Animals: Language on pet restrictions is also crucial: How many pets will be allowed in a unit, what type, what size, common area access and behavior are all important to outline to avoid disputes.
Need Help With Condominium Developments and Home Owners Association Agreements?
The attorneys at Suburban Legal Group PC know Illinois real estate law, which can be extremely complex. Having an experienced lawyer helping you through the process can make your life a lot easier and protect you and your family. Request a Free No-Obligation Real Estate Consultation Today to learn more about our real estate legal services.