In Chicago, condominium associations are governed by the Illinois Condominium Property Act. Section 22.1 of the ICPA contains provisions regarding the information that must be disclosed to prospective purchasers of units within the association.  

Click here for an article providing an overview of the disclosures provided in Illinois by a condominium association to a prospective buyer of a unit and (1) what is mandated by law; (2) what current practice is; (3) associations’ and board members’ exposures to claims for failure to comply; and (4) action needed to remedy the ills that exist in the market today.

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