Owners > Buying A Condo - 22.1The purchaser of a condominium in Illinois is entitled to review a variety of documents about a condo association at least 30 days prior to closing. And to receive the answers to certain stipulated points of disclosure about the association and the unit. This is commonly referred to as a '22.1' package, as its contents are specified by Section 22.1 of the Illinois Condominium Property Act (765 ILCS 605/22.1). If you're buying a unit in one of our buildings, you want this package. You're going to get it via email. It will include a PDF of the answers to the questions and a link to the association's document directory where you'll be able to review financial reports, budgets, governing documents, and more. We provide the documents in response to a request from the seller along with a copy of the sales contract. Researching and completing these required disclosures is one of the few tasks for which we charge the unit owner an additional fee. It's $25. Unless you need it yesterday. Then it's $50. |
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Additionally, a Section 22.1 Disclosure form is typically completed by the condominium board or the management company of a resale condominium. The form confirms the assessment, notifies prospective purchasers of any pending special assessments, states whether or not the association has any liens or lawsuits against it, and provides insurance. DISCLOSURE OF FINANCIAL INFORMATION ABOUT TE GENERAL GOERNMENT SECTOR IPSAS 22 International Public Sector Accounting Standard 22, Disclosure of Financial Information about the General Government Sector, is set out in paragraphs 1–48. All the paragraphs have equal authority. IPSAS 22 should be read in the context. Preparing an Accurate Section 22.1 Disclosure- (no one said it would be easy.) Section 22.1 of the Illinois Condominium Property Act is the relevant provision regarding the necessary resale disclosures that must be provided to prospective buyers of condominium units in an association.
Forms| Selection | File type icon | File name | Description | Size | Revision | Time | User |
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| Ċ | ACH Form.pdf
| Automatic payment signup form. | 293k | v. 3 | Apr 16, 2015, 2:19 PM | Chicago Condo Management & Maint. Co. | | Ċ | OwnerContactInfo.pdf
| Submit new owner contact information for a unit. | 312k | v. 6 | Jun 30, 2014, 10:08 AM | Gregory - Chicago Condo Management | | Ċ | PAL-22.1 Request.pdf
| Paid assessment letter and/or 22.1 disclosure request | 295k | v. 2 | Feb 27, 2020, 1:37 PM | Gregory - Chicago Condo Management | | Ċ | ProxyForm-Condo.pdf
| Proxy form for condominium association meetings. | 45k | v. 1 | Apr 17, 2013, 5:18 PM | Gregory - Chicago Condo Management | | Ċ | ProxyForm-Coop.pdf
| Proxy form for co-operative apartment shareholder meetings. | 57k | v. 1 | Apr 17, 2013, 5:17 PM | Gregory - Chicago Condo Management | | Ċ | RefuseResolution.pdf
| Request the City of Chicago refuse rebate. | 293k | v. 2 | Apr 24, 2012, 8:25 PM | Gregory - Chicago Condo Management | | Ċ | SampleAssociationMinutes.pdf
| A fill-in the blank template for HOA meeting minutes. | 300k | v. 1 | May 15, 2014, 9:27 AM | Gregory - Chicago Condo Management | | Ċ | SampleBoardMinutes.pdf
| A fill-in the blank template for board meeting minutes. | 298k | v. 1 | May 15, 2014, 9:29 AM | Gregory - Chicago Condo Management |
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