Condominium Common Element For Fraternities And Sororities In Chicago

State:
Multi-State
City:
Chicago
Control #:
US-00454
Format:
Word; 
Rich Text
Instant download

Description

The Master Deed document establishes a condominium project in Chicago specifically tailored for fraternities and sororities. It outlines the common elements relevant to the users, which include roads, landscaping, and utilities shared among co-owners, along with individual responsibilities for maintenance and use. This form serves as an essential legal framework for fraternity and sorority organizations by defining the rights and obligations of its members regarding shared resources and property management. Key features include specifications on General and Limited Common Elements, responsibilities for maintenance, and rules for the use of these areas to promote harmonious living. Filling and editing instructions include specifying the developer's details, descriptions of units, and incorporating necessary amendments for subdivision or consolidation of units. Attorneys, partners, and legal associates involved in real estate or fraternity/sorority housing can utilize this form to ensure compliance with local laws and protect the interests of their organizations. Additionally, paralegals and legal assistants may find this form useful for preparing documents and advising on best practices concerning condominium governance.
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  • Preview Condominium Master Deed - Residential Condo Development
  • Preview Condominium Master Deed - Residential Condo Development
  • Preview Condominium Master Deed - Residential Condo Development
  • Preview Condominium Master Deed - Residential Condo Development
  • Preview Condominium Master Deed - Residential Condo Development
  • Preview Condominium Master Deed - Residential Condo Development
  • Preview Condominium Master Deed - Residential Condo Development
  • Preview Condominium Master Deed - Residential Condo Development
  • Preview Condominium Master Deed - Residential Condo Development
  • Preview Condominium Master Deed - Residential Condo Development
  • Preview Condominium Master Deed - Residential Condo Development

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FAQ

Kitchen appliances within the units are not considered part of the common elements of a inium project since they are typically owned and maintained by individual unit owners. Swimming pools and greenbelt areas are examples of common elements as they are shared facilities within the inium project.

A Common Element inium is comprised solely of common elements such as a private road, parking spaces, mailbox pad, play area and any other common elements and do not include dwelling units/lots.

Definition of common elements in a inium, those portions of the property not owned individually by unit owners but in which an indivisible interest is held by all unit owners. Generally includes the grounds, parking areas, recreational facilities, and external structure of the building.

Common Elements of the inium Corporation are the land and structures in the inium Corporation other than the units themselves, such as the exterior landscaped areas, recreational facilities, parking garage, hallways, elevators, corridors, public washrooms, lobby areas, driveways, garbage rooms, electrical ...

Inium associations in Chicago are primarily regulated by state law, specifically the Illinois inium Property Act (ICPA). This act governs the creation, management and dissolution of iniums in Chicago and throughout Illinois.

Maintenance, repair, and replacement of a limited common element is usually the responsibility of the association except to the extent the declaration shifts that duty to the unit owner.

Residential inium, the Common Elements may include the land, the exterior and common areas of buildings (entranceway, halls, elevator, meeting room, etc.), landscaping, roads, any outside parking areas, outdoor lighting, any recreational facilities (swimming pool, tennis courts, clubhouse, etc.)

General amendments to inium instruments are governed by Section 27 of the Illinois inium Property Act, which states that an affirmative vote of 2/3 of voting unit owners must approve amendments, unless the inium instruments provide for some other majority vote somewhere between 50% and 75%.

Shopping centers, large stores, and retail storefronts, often along major streets. Allows more types of businesses than B1 and B2 districts. Apartments permitted above the ground floor.

The A-2 zone regulates development of detached single-unit dwellings on existing lots and provides design guidance for small lot residential subdivisions, middle housing developments, and multi-unit developments. Ord. 810, 2000; Code 2000 § 11.20. 31; Ord. 857 Exh.

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Condominium Common Element For Fraternities And Sororities In Chicago