SAUL EWING ARNSTEIN & LEHR LLP 312.876.7100 FOREWORD With the decriminalization of recreational marijuana and the increase in assistance animal requests, the Illinois legislature passed new laws to address condominium association issues in both realms. Condominium associations may choose to incorporate as Illinois not-for-profit corporations, pursuant to Section 18.1 of the Act…

www.tresslerllp.com Tressler LLP is … The Act regulates HOAs that have been incorporated, have 10 units or less, or if their annual budget is $100,000 or less, unless a majority of their directors elect to be governed by the Illinois Common Interest … Quick Reference Guide.

Section 9.c.2 of the 2016 Illinois Condominium Property Act (ICPA) states: All budgets adopted by a board of managers on or after July 1, 1990 shall provide for reasonable reserves for capital expenditures and deferred maintenance for repair or replacement of the common elements. View the Illinois Condominium Property Act . 9 [1]) provides as follows: (c) Budget and reserves. The Horizontal Property Law requires all co‐owners to contribute toward the expense of maintaining a replacement reserve fund for repairs and maintenance of the general common elements. It is recommended that the reserve study be prepared by an outside engineering firm. of the Illinois Condominium Property Act and the Common Interest Community Association Act (the “Acts”), which includes amendments to both Acts, current through January 1, 2018. All Illinois condominium associations are subject to the Illinois Condominium Property Act. One method to determine reasonable reserves is to have a reserve study prepared. All condominium developments in the state of Illinois are regulated by this Act. THE CONDOMINIUM PROPERTY ACT OF THE STATE OF ILLINOIS Including amendments adopted July 29, 2005, And effective that date or January 1, 2006, as indicated [amended portions are italicized and underlined] Presented by: BARNETT LAW FIRM, LTD. providing legal services to condominium and homeowners associations throughout Chicagoland 40 DuPage Court, Suite 306 Elgin, Illinois 60120 … 18.1 The owner or owners of the property, or the board of managers may cause to be incorporated a not for profit corporation under the General Not For Profit Corporation Act of the State of Illinois for the purpose of facilitating the administration and operation of the property. Although the legislature made no changes to the ICPA during 2018, the Ombudsperson Act requirements take effect on January 1, 2019.

Saul Ewing Arnstein & Lehr’s Condominium and Community Associations Practice is pleased to once again offer its annual summary of the Illinois Condominium Property Act (“ICPA”). Legal Basis for the Condominium The Illinois Condominium Property Act provides the framework for the creation and governance of condominium associations. For the purposes of this article, the focus is on the changes to the Condo Act. Finding Illinois’ COA and HOA Lien Laws. These are factors that also affect the amount of reserves and savings for condo associations. The governing document for the association is the “Declaration of Condominium Ownership and of Easements, Anyone who lives in a condominium, serves on the board of a condominium association, or is an attorney who advises condominium association boards, should be aware of these upcoming …

Section 381.870. The Illinois Condominium Property Act (Illinois Compiled Statutes, Ch.

A new law amends both the Illinois Common Interest Community Association Act and the Illinois Condominium Property Act. Illinois Condominium Property Act Chicago Office 233 S. Wacker Drive Chicago, IL 60606 t: 312.627.4000 f: 312.627.1717 Bolingbrook Office 305 W. Briarcliff Road Bolingbrook, IL 60440 t: 630.759.0800 f: 630.759.8504 The 2015 Special Edition Includes: >> Condominium Property Act Index >> General Not for Profit Corporation Act www.tresslerllp.com. Illinois Condominium Property Act, 765 ILCS 605. 605/1 through 605/35) governs COAs. The law amends both the Illinois Condominium Property Act (the “Condo Act”) and the Common Interest Community Association Act. 160/1-1 through 160/1-90) governs HOAs, although it’s not very comprehensive when compared to the Condominium Property Act.