A. Definitions: The following definitions shall apply to this section:
CERTIFICATE OF CODE COMPLIANCE: A written instrument issued by the village as evidence of a condominium's compliance with applicable housing code standards of the village.
CODE INSPECTION REPORT: A written report issued by the village as evidence that all units and common elements in a condominium project have been inspected for compliance with applicable housing code standards of the village.
PROPERTY REPORT: A property report required by this section and in accordance with the Illinois condominium property act 1 . (Village code § 10-15)
B. Contents Of Property Report: At least thirty (30) days prior to closing a sales contract on any condominium unit in a condominium project, a developer shall furnish purchaser with a property report and shall certify by affidavit that all disclosures are true to the best of his knowledge and belief. Said report shall be furnished to prospective buyer and contain at least the following information about the condominium project:
1. A statement indicating the name and address of the developer of the condominium property.
2. A plat of survey showing the size and dimensions of the condominium property.
3. A floor plan of the condominium unit offered for sale.
4. A report from a professional engineer or architect, licensed by the state of Illinois, describing the condition and expected useful life of the following structural elements:
a. Roof.
b. Foundation.
c. External and supporting walls.
d. Mechanical, electrical, plumbing, heating and structural elements.
e. All other common facilities.
To the extent possible, all said descriptions shall be provided together with an estimate of repair and replacement costs at current market prices for those elements which need repair or replacement.
C. Conversion Notification Requirements: No less than one hundred twenty (120) days prior to recording the declaration submitting a property to the provisions of the Illinois condominium property act, a developer shall give notice of said intent to record to all persons who are tenants of the property on the date notice is given. (Ord. O-23-79, 10-22-1979)
Notes
| 1 | 1. 765 ILCS 605/1 et seq. |