A. No less than one hundred twenty (120) days prior to the recording of the declaration pursuant to the Illinois condominium property act, the developer shall give written notice to each tenant of any building being converted, of the intent to submit the property to the act.
Any developer of a conversion condominium must, upon issuing the notice of intent, publish and deliver along with such notice of intent, a schedule of selling prices for all units subject to the condominium instruments and offer to sell such unit to the current tenants, except for units to be vacated for rehabilitation subsequent to such notice of intent. Such offer shall not expire earlier than thirty (30) days after receipt of the offer by the current tenant, unless the tenant notifies the developer in writing of his election not to purchase the condominium unit.
B. For a period of one hundred twenty (120) days following his receipt of the notice of intent (180 days for the elderly or handicapped), any tenant who was a tenant on the date of the notice of intent was given shall be given the right to purchase his unit on substantially the same terms and conditions as set forth in a duly executed contract to purchase the unit, which contract shall conspicuously disclose the existence of, and shall be subject to, the right of first refusal. The tenant may exercise the right of first refusal by giving notice thereof to the developer prior to the expiration of thirty (30) days from the giving of notice by the developer to the tenant of the execution of the contract to purchase the unit. The recording of the deed conveying the unit to the purchaser which contains a statement to the effect that the tenant of the unit either waived or failed to exercise the right of first refusal or had no right of first refusal with respect to the unit shall extinguish any legal or equitable right or interest to the possession or acquisition of the unit which the tenant may have or claim or claim with respect to the unit arising out of the right of first refusal provided for in this section. The foregoing provision shall not affect any claim which the tenant may have against the landlord for damages arising out of the right of first refusal provided for in this section.
C. Any tenant who was a tenant as of the date of the notice of intent and whose tenancy expires (other than for cause) prior to the expiration of one hundred twenty (120) days, (180 days for the elderly or handicapped) from the date on which a copy of the notice of intent was given to the tenant, shall have the right to extend his tenancy on the same terms and conditions and for the same rental until the expiration of such one hundred twenty (120) or one hundred eighty (180) day period, as appropriate, by the giving of written notice thereof to the developer within thirty (30) days of the date upon which a copy of the notice of intent was given to the tenant by the developer.
Each tenant in a condominium conversion shall be informed by the developer at the time the notice of intent is given whether his tenancy will be renewed or terminated upon its expiration. If the tenancy is to be reviewed, the tenant shall be informed of all charges, rental or otherwise, in connection with the new tenancy and the length of the term of occupancy proposed in conjunction with the new tenancy and the length of the term of occupancy proposed in conjunction therewith.
D. Notwithstanding lease provisions to the contrary, the tenant's premises will not be shown to prospective purchasers without the tenant's permission until the expiration of the tenant's option to purchase or ninety (90) days prior to the end of the term of the tenant's lease, whichever is later.
E. No lease or other agreement for the rental of property shall contain any provision which authorizes the lessor to terminate the lease less than one hundred twenty (120) days (180 days for the elderly or handicapped) from notice of intent to convert as a part of any operation or transaction incident to such a conversion. No such provision of any lease or other agreement entered into after the effective day of this chapter shall be given any force or effect, and such provisions are declared to be void.
F. Any notice provided for in this section shall be deemed given when a written notice is delivered in person or mailed, certified or registered mail, return receipt requested, to the party who is being given the notice. (Ord. 88-2-3)