Loading...
At least thirty (30) days prior to closing a sales contract on any condominium unit in a condominium project, a developer shall prepare and file with the Director a property report and shall certify by affidavit that all disclosures are true to the best of his knowledge and belief. Said report shall contain at least the following information about the condominium project:
A. A statement indicating the name and address of the developer of the condominium property.
B. A plat of survey showing the size and dimensions of the condominium property.
C. A legal description of the condominium units offered and the proportionate percentage of individual ownership of said units.
D. A description of the common elements and a statement of the percentage ownership of the common elements applicable to the condominium units offered.
E. A description of all existing and proposed facilities not included, or not to be included, as part of the common elements.
F. A statement of the following, in capital letters, when parking facilities are not:
1. Part of the common elements, or
2. Divided as individual parking spaces among and designated as part of the units of a condominium property:
PARKING FACILITIES ARE NOT OWNED BY THE UNIT OWNERS. IT SHALL BE THE RESPONSIBILITY OF CONDOMINIUM UNIT OWNERS TO OBTAIN THEIR PARKING FACILITIES. THE VILLAGE OF OAK PARK PROHIBITS OVERNIGHT PARKING ON STREETS.
G. An identification of all drawings, architectural plans and other suitable documents, including "as built" drawings, setting forth information for the location, maintenance and repair of condominium facilities and equipment. Said identification shall be made to the extent these documents exist and are available to the Condominium Board of Managers.
H. Projected initiation and completion dates for any proposed construction, renovation or conversion.
I. Copies of the following legal documents that are binding or are to be binding upon the condominium:
1. The declaration and plat of survey. Prior to the recordation of the declaration, however, a preliminary declaration and plat may be supplied, provided they are accompanied by a written statement that the description of units and percentage of ownership interest in common elements is preliminary and may be changed in material respects upon the recording of the declaration and plat.
2. The articles of incorporation or charter of the condominium association, if any.
3. The bylaws and regulations of the condominium association.
J. Disclosures of the existence of other legal documents that are binding upon the condominium, including:
1. Any leases on real or personal property applicable to the condominium.
2. The coverage and amounts of property insurance policies maintained on the condominium building.
3. Any management contract, employment contract or any other contract affecting the use, maintenance or access to all or any part of the condominium. Said disclosures under this subsection shall include:
a. The name of the management agency, if any, and the services the agent will perform;
b. The length of term of any management contract and the charges and circumstances, if any, under which the charges may be increased;
c. The conditions, if any, under which the contract may be canceled or terminated; and
d. A statement disclosing any relationship between the developer and the management firm.
K. A statement of sale prices, terms and options for condominium units.
L. A floor plan of the condominium unit offered for sale.
M. A description of any appliances and other personal property included with a unit offered for sale.
N. A statement of the terms and conditions of sale, including estimated itemized closing and settlement costs, taxes and expected special assessments levied either by the condominium or an entity of government.
O. A statement of the estimated operating budget for the condominium project, projected for a period of one year from the expected date that control of the project would pass to the Board of Managers. The projected operating budget shall include:
1. Operating costs, such as costs for utilities, heating fuels, janitorial services, trash and garbage disposal, ground and building maintenance, security, maintenance or recreational and other facilities, building insurance, elevator maintenance, sidewalk and street maintenance and taxes. Said costs shall at least be shown in the aggregate and identified as operating costs.
2. Management costs, such as the costs of management fees, accounting and bookkeeping services and legal services. Said costs shall at least be shown in the aggregate and identified as management costs.
3. Reserve costs, such as reserves for improvements, unexpected repair work, and replacement and upkeep of common areas and facilities. Said costs shall at least be shown in the aggregate and identified as reserve costs.
P. A statement of the provisions the developer has made to cover the proposed operations and maintenance budget in the event an insufficient number of units are sold.
Q. A report from a professional engineer or architect, licensed by the state, describing the condition and expected useful life of the following structural elements at least thirty (30) days prior to closing a sales contract:
1. Roof.
2. Foundation.
3. External and supporting walls.
4. Mechanical, electrical, plumbing, heating and structural elements.
5. 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.
R. A statement setting forth the maximum number of occupants permitted by this code for each dwelling unit contained within the condominium development. Each such dwelling unit shall be clearly and accurately identified so as to be easily referenced by a person reading the statement.
S. A statement verifying the number of applications of roofing systems existing on the building. If more than two (2) applications of roofing systems exist, the developer shall provide an estimate of cost for a complete tear off of the old roofing systems and the application of a new roofing system.
T. A statement indicating that the electrical service for each condominium unit is in compliance with subsection 12-3-8E of this article, the condominium ordinance, and containing a list of condominium units, identified by number, which indicates the size of the electrical service in ampere for each unit.
U. A statement indicating that the electrical service for the building, based upon the per unit electrical service requirements of subsection 12-3-8F of this article, the condominium ordinance, is equal to or greater than the electrical service requirements set forth in article 220 of the national electric code (1993) and setting forth service load calculations for the condominium building which provide substantially the same information contained in the "service load calculations" form for multiple- family dwellings included in exhibit A of this section.
(Ord. 15-184, 11-2-2015, eff. 12-1-2015)
Each property report shall contain on the first page the following statement, conspicuously shown in capital letters:
THE VILLAGE OF OAK PARK MAKES NO JUDGMENT ON THE STATEMENTS IN THIS PROPERTY REPORT. ORAL REPRESENTATIONS ARE NOT BINDING ON THE DEVELOPER. ONLY REPRESENTATIONS MADE IN WRITING ARE BINDING ON THE DEVELOPER.
(Ord. 15-184, 11-2-2015, eff. 12-1-2015)
A. Any developer of a property submitted subject to the provisions of the Illinois condominium property act shall be required to provide a warranty against any defects in the following property components:
1. Roof.
2. Foundation.
3. External and supporting walls.
4. Central heating plant.
B. Said warranty shall cover the defects listed in this section for a period of fifteen (15) months from the date control of the condominium property passes to the Board of Managers.
C. Repair or replacement of the defects listed in this section shall be performed in a timely manner by the developer following notification by the Board of Managers.
D. Warranty coverage shall not include the cost of normal, routine maintenance of the property components listed in this section or defects caused by fire (not related to any breach of warranty), acts of God, vandalism or negligence of a unit owner.
E. To assure compliance with this section, the developer shall, at the time of each closing, place in escrow with a bank or trust company authorized to do business in Illinois a sum equal to two percent (2%) of the total of each unit sale price. The developer shall provide proof satisfactory to the Director at the time of application for a real estate transfer tax stamp pursuant to section 23A-1-1 et seq., of this code, as amended, that the escrow account has been or will be established upon closing. Said sum shall remain in escrow for a period of not less than fifteen (15) months from the date control of the condominium project passes to the Board of Managers and all interest earnings on the sum held in escrow shall accrue solely to the developer. The developer shall notify the Director by registered or certified mail that control of the condominium project has passed to the Board of Managers within five (5) days of the passage of control. At least sixty (60) days prior to the termination of the escrow period, the developer shall notify the Board of Managers and the affected unit owners by certified mail of the date upon which the escrow will terminate. If the required prior notice has been given and no notice of claim by any unit owner is received within the fifteen (15) month period, the funds in escrow shall be returned to the developer. If notice of claim is received by the escrowee, funds shall be retained in escrow in the amount of the claim until the claim is adjusted between the claimant and the developer or until the validity of the claim is determined by court action. (Ord. 15-184, 11-2-2015, eff. 12-1-2015)
A. A developer submitting a property to the provisions of the Illinois condominium property act shall file a notice of intent to convert with the Director within three (3) business days from the date said notice is given to the tenants of the property. A code inspection of the property, including all projected condominium units and common elements and facilities, shall be scheduled by agreement between the developer and the Director when the notice of intent to convert is received by the Director.
B. Any code violations and deficiencies detected during an inspection of projected condominium units and common elements and facilities should be corrected by the developer at least thirty (30) days prior to the closing of a sales contract on any condominium unit to provide the Director with adequate time to perform a reinspection of the premises and prepare the inspection report and certificate for delivery to the prospective purchaser by the developer at or prior to closing as required in subsection 12-3-5F of this section. Said corrections shall be evidenced by a code inspection report and certificate of code compliance, except as provided in subsection 12-3-5C of this section, issued by the Director.
C. If substantial rehabilitation is being performed as part of a conversion to condominium, the Director may issue a partial certificate of code compliance to permit the closing of sales contracts for those condominium units in which rehabilitation is complete and all code violations are corrected. Partial certificates also may be issued for common elements and facilities on which rehabilitation is complete and all code violations are corrected. However, prior to the issuance of a certificate of code compliance for the entire property, a reinspection shall be made on all common elements and facilities and units for which sales contracts have not been closed. Any recurrence of code violations in the common elements and facilities covered by a partial certificate of code compliance shall be corrected by the developer at the developer's expense unless control of the building has passed to the Board of Managers.
D. Until such time as all units in a condominium property are sold, the Director shall conduct annual building inspections of all common elements, all common facilities, and at least ten percent (10%) (but never less than 1 unit) of the unsold condominium units.
E. Subsequent to the sale of all condominium units, the Director shall conduct an annual inspection of all the common elements and facilities of a condominium property. The condominium building shall be subject to all applicable Village ordinances which may be enforced as to the developer, unit owners, Board of Managers or any other person to whom the ordinances are applicable.
F. A developer shall be required to provide a prospective purchaser with a copy of a code inspection report and a certificate or partial certificate of code compliance prior to or at the closing of a condominium unit sales contract. (Ord. 15-184, 11-2-2015, eff. 12-1-2015)
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)
Special consideration shall be given to tenants who would or could experience severe hardships in relocating, if necessary, after receiving a notice of intent to submit a property to the provisions of the Illinois condominium property act. The following provisions are included to alleviate said hardships:
A. A condominium developer shall inform all tenants electing not to purchase condominium units that relocation counseling or assistance may be available by contacting the Oak Park Housing Authority, Oak Park Housing Center or other appropriate agencies.
B. A condominium developer shall disclose in writing the following language to a tenant electing not to purchase a condominium unit:
Tenants who find it necessary to move may be eligible for rental assistance payments through the Housing Authority of the Village of Oak Park located at 328 North Austin Boulevard. All tenants desiring assistance are encouraged to inquire about the Housing Authority programs.
The Housing Authority will make every effort to help, although Federal funds available for rental assistance payments are limited. Tenants eligible for assistance must have an annual income not in excess of the income standards set for this area by the Department of Housing and Urban Development. Tenants meeting this standard shall receive some priority consideration from the Housing Authority under its standards for tenants who are about to be without housing due to no fault of their own.
C. Apartment building owners who receive rehabilitation grant assistance from the Oak Park community development block grant program shall be required to offer, on a priority basis, any unleased units so assisted to eligible tenants displaced by condominium conversions within the Village. (Ord. 15-184, 11-2-2015, eff. 12-1-2015)
Every condominium unit shall contain the following:
A. Ground fault interrupted (GFI) outlets in kitchen and bathroom.
B. All electrical outlets shall be grounded.
C. A light fixture in all storage rooms or within fifteen feet (15') of all storage areas defined by wire or other transparent wall material.
D. A minimum of three (3) reasonably spaced, grounded electrical outlets in each habitable room in addition to any other electrical fixture which is located in any such room.
E. Each dwelling unit in a condominium must have a minimum of sixty (60) amp electric service. Electric service of less than sixty (60) amp must be replaced with one hundred (100) amp electric service.
F. The electrical service to the condominium building shall be equal to or greater than that required by article 220 of the national electric code (1993) for a building which complies with the per unit electrical service requirements of subsection 12-3-8E of this section. (Ord. 15-184, 11-2-2015, eff. 12-1-2015)
The seller of every condominium unit within the Village shall include a rider to every sales contract for the sale of a condominium unit within the Village which must be separately executed by the seller and purchaser and which shall read, in bold print, as follows:
The Seller has notified the Purchaser, and the Purchaser acknowledges receipt of notification from the Seller that the Village of Oak Park has enacted a Condominium and Condominium Conversion Ordinance, setting forth regulations which, among other things, provide BUYER PROTECTION BENEFITS included in the enumerated Section of the Ordinance as follows:
Section 12-3-2: | At least 30 days prior to closing a sales contract...a developer shall prepare and file with the Director of the Development Customer Services Department a property report and shall certify by affidavit that all disclosures are true to the best of the developer's knowledge and belief... | |
Section 12-3-2R: | The maximum number of occupants permitted by the Village Code for this dwelling unit is listed in the Property Report required to be on file with the Director of the Development Customer Services Department. | |
Section 12-3-4A to E: | Condominium warranty provisions...A copy of the warranty shall be filed with the Director of the Development Customer Services Department... | |
Section 12-3-5A: | A developer submitting a property to the provisions of the Illinois Condominium Property Act shall file a notice of intent to convert with the Director of the Development Customer Services Department of the Village, within three (3) business days from the date said notice is given to the tenants of the property. A code inspection...shall be scheduled.... | |
Section 12-3-5B: | Any code violations and deficiencies...should be corrected by the developer at least 30 days prior to the closing of a sales contract on any condominium unit to provide the Department of Development Customer Services with adequate time to perform a reinspection of the premises and prepare the required report and certificate. Said corrections shall be evidenced by a code inspection report and certificate, or partial certificate, of code compliance which shall be presented by the developer to the Purchaser prior to or at closing. | |
Section 12-3-11: | The Purchaser has the right to rescind any sale not in substantial conformance with this Article or to seek damages therefor.
|
All of the above provisions must be satisfied prior to closing. If you have any questions or need additional information, please call the Director of the Development Customer Services Department at (708) 383-6400.
(Ord. 15-184, 11-2-2015, eff. 12-1-2015)
The developer shall schedule an informational meeting at the Village Hall with the Director and Director of Community Relations at least ninety (90) days prior to filing the declaration in the case of new construction or within thirty (30) days of providing notice to tenants of an existing building of the developer's intention to file a declaration to convert such building to a condominium building in accordance with the Illinois condominium property act.
The purpose of the meeting will be for the Village to provide the developer and developer's agents with information concerning the application of the Village's fair housing and condominium development laws and regulations to the developer's condominium development. (Ord. 15-184, 11-2-2015, eff. 12-1-2015)
Loading...