Why buyers choose attached homes
Condos and townhomes appeal to first-time buyers, downsizers and anyone who'd rather not spend weekends on yard work. Options range from downtown condo buildings within walking distance of the Riverwalk to townhome communities near I-88 and Route 59.
Read the HOA documents carefully
Illinois law gives condo buyers the right to request certain association disclosures. Your attorney will review them during attorney review.
- Monthly assessments and what they cover.
- Reserve fund balance and any planned special assessments.
- Rules on rentals, pets, parking and exterior changes.
- Recent meeting minutes for upcoming projects or disputes.
Financing considerations
Some loan programs require the condo building to meet specific approval criteria. Tell your lender early if you're considering condos. See mortgage pre-approval.