The City of Chicago Condo Ordinance
Chapter 13-72 of the Municipal Code of Chicago is the City of Chicago’s Condominium Ordinance. The Condo Ordinance now includes several, strengthened consumer protections. Prospective purchasers of condo units now have the right to a standard, simplified document that discloses key information about the condo for sale. Tenants in buildings being converted into condos also have several rights new rights under the ordinance.
The Disclosure Summary is a simplified, standardized disclosure document for potential condo purchasers. Developers must make this document available when they offer condos for sale, including at open houses and other showings. They must also file a copy with BACP by emailing the completed PDF to BACPcondos@cityofchicago.org. Note this email address only accepts completed condo disclosure summaries filed by condo developers. You can find BACP’s disclosure summary form here.
Notice of Condo Conversion and Tenants’ Rights
Under the ordinance, tenants in buildings being converted into condos have several rights. Futhermore, the developer converting the building must give notice to existing tenants by mail and by posting at building entrances. You can find the notice and summary of tenants rights here.