As the housing market in many parts of the country has floundered, many developers have taken creative approaches to stanch the outward flow of cash. In many markets, this means opting to convert portions of developments originally int…
In a sprawling urban or suburban environment, people can feel isolated, even though they live close to each other. While high-rise residential buildings and suburban subdivisions put many families near one another, living close doesn’t …
Nothing stays the same forever. As community standards, attitudes and populations shift and evolve, rules and regulations that once made sense or that reflected the views and standards of their day can become antiquated, irrelevant, or…
Descriptions of “vintage,” “refurbished” and “pre-owned” can persuade a decision toward some purchases—cars, computers, that perfect James Dean-era leather jacket—but for Chicagoland homebuyers, the allure of shiny and new is often too ha…
Q Is a condominium association in Illinois required to produce an annual financial report? If they don’t, what is the recourse? What parts of a financial report do the owners have access to? If the management doesn’t allow me to see the…
Q I am the vice president of our condo board. Just recently we found out through a real estate ad that the president of the board is selling his unit. Does this pose a conflict of interest? In effect, should the president remain the pr…
Q I have lived in a unit for the past three years. I am planning on having my boyfriend move in with me in a few months. Are there any community or state rules or regulations that will prevent this from happening? —Taking on Tena…
Sometimes in the heat of the moment, when disagreements are at their worst, the possibility of solving a problem without going to court seems remote at best. Arguments may have been brewing for days or weeks with each side becoming more…
The economy cratered—to use a term in popular parlance at that time—in September 2008, with the collapse of too-big-to-fail Lehman Brothers. While the measures undertaken by the federal government and the Federal Reserve averted complet…
The recession and accompanying housing crisis have impacted different parts of the nation in varying ways, with places like New York City looking downright hearty compared to foundering markets like Florida and California. The Chicago …