A. 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.
B. Any person who was a tenant upon the date of receiving a notice of intent to record a declaration of condominium and whose tenancy expires other than for cause prior to one hundred twenty (120) days thereafter shall have the right to extend his tenancy on the same terms and conditions and for the same rental cost until the one hundred twenty (120) day period expires.
C. An exception to the requirement of subsection 12-3-6B of this section shall be provided for any tenant who is sixty five (65) years or over or who is physically handicapped or physically disabled. Any said tenant whose tenancy expires other than for cause prior to one hundred eighty (180) days after receiving a notice of intent to record a declaration of condominium shall have the right to extend his tenancy on the same terms and conditions and for the same rental cost until the one hundred eighty (180) day period expires.
D. No rental lease shall be executed between an owner or his agent and a prospective new tenant in a property for which notice of intent to record a declaration of condominium has been given to existing tenants unless the prospective new tenant initially is notified in writing of the intended recordation. No lease shall be executed so as to stipulate an expiration date prior to one hundred twenty (120) days from the date the lease becomes effective. (Ord. 15-184, 11-2-2015, eff. 12-1-2015)