Question 1

HOW EARLY SHOULD I START PREPARING TO SELL MY CHICAGO CONDO?

Accepted Answer

Start getting ready at least two to four weeks before you plan to list. While basic cleaning goes fast, tracking down building records, board approvals, and repair receipts takes extra time.

Question 2

DO I NEED TO NOTIFY MY ASSOCIATION BEFORE SELLING A CONDO IN CHICAGO?

Accepted Answer

First, check your association’s governing documents and resale procedures. You may need to give notice or obtain a waiver of a right of first refusal. Illinois law also requires sellers to obtain Section 22.1 disclosure records and make them available to prospective buyers upon request

Question 3

CAN I SELL MY CHICAGO CONDO IF I STILL OWE HOA ASSESSMENTS OR FEES?

Accepted Answer

Yes, but you must pay off any unpaid dues at or before closing. Ask the association for a current account statement and payoff amount. If there’s a disputed charge or an assessment lien, your closing attorney or title company can help resolve it before closing.

Question 4

WHAT HAPPENS IF A SPECIAL ASSESSMENT IS ANNOUNCED AFTER I LIST MY CONDO?

Accepted Answer

Notify your agent and attorney immediately so you can share the details with potential buyers. Who pays for the assessment depends on when it was officially approved and what your sales contract says. So have your attorney review the terms before agreeing to cover or transfer the cost.

Question 5

WHAT SHOULD I DO IF I CAN’T FIND PERMITS OR APPROVALS FOR PAST CONDO RENOVATIONS?

Accepted Answer

Check the City of Chicago’s building permit and inspection record or ask your board for past approval files. If you still cannot find them, consult your real estate attorney about the best way to handle disclosures before going to market.

Question 6

CAN I SELL A CHICAGO CONDO WHILE A TENANT IS STILL LIVING IN THE UNIT?

Accepted Answer

Yes, but the buyer will take over the existing lease unless you wait for it to end. If you want to sell the unit vacant, Chicago’s Fair Notice rules require 30, 60, or 120 days’ written notice for applicable nonrenewals or tenancy terminations, depending on the tenant’s length of occupancy. Giving notice alone doesn’t override an active fixed-term lease.

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