2024 Fall Chicagoland Expo Seminar: Navigating the Corporate Transparency Act: What Community Associations Need to Know Sponsored by: Hirzel Law, PLC

By Cooperator Staff 4 November 2024 Seminar

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News

4/14/2025 Suburban multifamily momentum spurs $18M condo deconversion - Real Deal

The investor plans a condo deconversion after paying $18 million for the building in the Chicago suburb Palatine.
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4/10/2025 Condo Adviser: Condo boards may discuss business outside of meetings only in certain cases - Chicago Tribune

Q. I am a unit owner in a condominium association and have read that Illinois case law prohibits the board of directors from email or text discussions of board business outside of a board meeting because unit owners would not be privy to those discussions. When I raised this issue with my condominium board, the response was that email and text communications are allowed pursuant to the Condominium Act. In fact, a review of the board meeting minutes shows that in between meetings, the board regularly votes via email on various issues and then ratifies the decisions. Is this allowed?
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4/8/2025 Condo listing asks Park Tower’s highest price per square foot - Real Deal

A Park Tower condo has hit the market for $7.7 million after its owners invested millions into renovating the unit.
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4/3/2025 Condo hotel development planned at 2020 S. Archer - Urbanize Chicago

A condo hotel development is being planned at 2020 S. Archer in Chinatown. Planned by HMC Realty, the project site is a vacant lot at the northwest corner of S. Clark St and S. Archer Ave.
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4/2/2025 Former Chinese development partner lists 37 condos for sale at Chicago’s St. Regis tower - CoStar

Dalian Wanda Group, the Chinese former development partner of the St. Regis Chicago skyscraper, is selling the last portion of its ownership, a portfolio of 37 condominium units.
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3/28/2025 Cities with the most expensive homes in Illinois - Stacker

Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, affordability plays a huge role for buyers.
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3/27/2025 Former Chicago Bulls player Zach LaVine lists Chicago condo for nearly $7M - Chicago Tribune

Former Chicago Bulls guard Zach LaVine, who played for the team for parts of eight seasons, on Tuesday placed his 4,500-square-foot condominium on the 28th floor of the building at 9 W. Walton St. on the market for $6.9 million.
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3/24/2025 Trump Tower condo dispute boils over into federal lawsuit - Real Deal

A condo board dispute at President Donald Trump’s namesake tower in Chicago escalated to a federal lawsuit and, eventually, led to an arrest in the building’s spa steam room.
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3/20/2025 Trump Tower’s ex-condo association director sues management - Chicago Tribune

The ex-director of the Trump Tower condo board in Chicago sues, accusing the owners and managers of the famed skyscraper of fraud.
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3/17/2025 Condo Adviser: Corporate Transparency Act is on hold for community associations - Chicago Tribune

Q. I have been trying to keep up with the different court rulings and government issuances relating to the Corporate Transparency Act (CTA) and whether it is currently in effect or not for community associations. The courts and government have given me whiplash on this issue the last few months. Is CTA compliance required for community associations or not?
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3/11/2025 High-Rise Planned Near West Loop Park A Mix Of Condos, Apartments, Community Center - Block Club Chicago

If approved by City Council, the development would include rental and for-sale units, along with a four-level community center that would be gifted to the neighborhood at no cost.
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3/6/2025 Ex-Caterpillar CEO sells Michigan Avenue condo for less than its 1996 price - Crain's

A former CEO of heavy equipment manufacturer Caterpillar sold a condo in the Four Seasons Hotel Chicago for less than it sold for almost three decades ago in 1996.
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2/26/2025 Palmolive building condo sells for loss, is among priciest deals - Real Deal

A full-floor condo at the Palmolive Building has traded hands for $5.15 million. The building’s 23rd-floor condo sold in a deal that reflects a financial loss for the seller and one of the highest-priced residential sales of the year, Crain’s reported. The price works out to $953 per square foot. Jill Silverstein represented the undisclosed buyer. The seller wasn’t identified.
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2/21/2025 Committee on Zoning approves condo development at 1325 W. Fulton - Urbanize Chicago

The Committee on Zoning has approved a multi-phase condo development at 1325 W. Fulton. Planned by Chicago-based developer Sulo Development, the project site is a full block, vacant site along W. Fulton St from N. Elizabeth St to N. Ada St.
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2/18/2025 Former Mayor Richard Daley selling Lake Shore Drive condo - Crain's

Richard M. Daley, the former six-term mayor of Chicago, is selling his condo that overlooks Oak Street Beach on North Lake Shore Drive.
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2/12/2025 Private equity veteran Carl Thoma sells Palmolive condo at multimillion-dollar loss - Crain's

Carl Thoma, a veteran of four decades in Chicago’s private-equity landscape, sold a condo in the Palmolive Building for less than half what he paid for it nearly a decade ago.
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2/5/2025 Jonathan Toews' former Gold Coast condo resells at a loss of a million-plus - Crain's

A condo on Walton Street that former Chicago Blackhawks great Jonathan Toews sold in 2019 for almost $7 million has resold at more than $1 million off that price.
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1/29/2025 Chicago Bulls’ Patrick Williams drops $5.7M on Gold Coast condo - Real Deal

A 23-year-old NBA player has upgraded his living space with a $5.7 million condo in one of Chicago’s priciest neighborhoods.
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1/27/2025 Condo Adviser: Condo association bylaws lay out how to remove a board member - Chicago Tribune

Q: I am a unit owner in a small condominium association. We recently had a board election and the longtime president was replaced by a new board member. The new president has been calling frequent meetings, each of which he deems to be an emergency, behaves in an authoritarian manner and, in my opinion, bullies other board members. What options do the unit owners have to address this situation?
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1/22/2025 Local News Residents escape apartment building fire on Chicago's Lower West Side - CBS

A large apartment building fire in the Heart of Chicago neighborhood displaced six people. Just before 9 p.m., Firefighters battled heavy flames and issues with frozen hydrants at the building in the 1600 block of West Cullerton Street.
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2024 Fall Chicagoland Expo Seminar: Navigating the Corporate Transparency Act: What Community Associations Need to Know Sponsored by: Hirzel Law, PLC

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