As of the time of this writing, in mid-2018, there are about 49 new high rises being constructed around Chicago, with apartments and condominiums acting as the driving force behind the boom.
This is just one statistic that caught our eye recently; we could point to many others. But the bottom line is this: Here in Chicago, condos are big business – and for those of us who call a condo home, they’re a lot more than that.
The Ups and Downs of Condos in Chicago
For condo owners, it’s often impossible to think of a condominium as just a unit, a statistic, a number. For countless individuals and families around Chicagoland, a condo is a home, first and foremost. It’s a special, important place, where you’ll watch your family grow up – or, perhaps, where you’ll settle into the retirement of your dreams. It’s the place where you start and end your days, where you host dinner parties, where you welcome friends and family to town when they come for a visit.
And that’s just the tip of the iceberg. For so many, condos represent the future. Oftentimes, your condo is an investment. It’s a starting point for building wealth. It’s the way in which many Illinoisans transition from renting to owning property for the first time.
To sum it all up with a line from cheesy action movie? When it comes to condominiums, it’s not just business – it’s personal.
And the reality is that, often, condos can also be just as much a source for frustration as for joy.
Every day, Chicago condo owners face new and unique challenges. From disputes or conflicts with a condo association or management company; to problems paying special assessments or homeowners’ association (HOA) fees; to ever-changing laws, rules, and regulations, which can be dense and confusing: There is no shortage of issues facing condo owners around Chicagoland.
The same goes for condo associations, building developers, and management companies. All of these parties face unique challenges in the day to day, and in the big picture – and, more often that not, it’s important that they have an independent attorney, experienced in real estate and condominium law, ready to step in and provide assistance.
What Can an Attorney Do for You?
For condo owners, it’s often essential to have an attorney on your team when you purchase or sell an individual unit. And when you own a condo, you may require legal service when you fall behind on payments, or face a conflict or dispute with your condo owners’ association or a larger development or management company. This could be due to an unfair enforcement of condo rules or bylaws, improper maintenance and upkeep of common areas, or questions stemming from damage caused by water encroachment or a fire.
For condo associations, an attorney can be a vital resource, able to assist in matters ranging from offering guidance in the levying and collecting assessments; to settling owner claims; to negotiating construction and service contracts; amending condominium declarations, rules, and bylaws; or fielding and answering owner questions at association meetings.
And don’t forget developers. Whether you’re a corporation converting commercial properties to residential, or a commercial developer looking to change the Chicago skyline forever, an attorney can be a vital teammate, helping you to make it through various obstacles at every step of the process – such as dealing with zoning boards, historical commissions, licensing boards, and easement granters, for instance.
There’s a lot that goes into condominium law in Chicagoland – and when you’re facing a challenge, you want an attorney on your side with a wealth of experience, and a personal approach that ensures that your needs are met, with no excess confusion or hassle along the way. That’s where the Gunderson Law Firm would be happy to step in.
At the Gunderson Law Firm, out attorneys and staff possess unparalleled expertise and insight, underscored by long-term connections throughout Chicago’s real estate, finance, and insurance industries. Have any questions? Don’t hesitate to get in touch today for your free initial consultation.