Legal Question in Real Estate Law in Illinois

condo association

how is ownership percentage of common elements figured for purposes of assessments for a condo.


Asked on 10/13/08, 12:40 pm

2 Answers from Attorneys
David Grisamore Law Offices of David T Grisamore

Re: condo association

The developer set the ownership percentages by relative values of each unit (not square footage, although sf is an obvious component of value).

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Answered on 10/13/08, 1:33 pm
Nicholas Chrisos Nicholas G. Chrisos Attorney at Law

Re: condo association

It's usually listed at the back of the Declaration that you (hopefully) have a copy of.

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Answered on 10/13/08, 4:23 pm


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