Apostal Group

Condos

Apostal Group

When it comes to condos, Chicago has nearly endless options. Whether you’re looking for a condo in a full-amenity, high-rise building or one in a small building on a shaded, tree-lined street; whether it’s new construction or a vintage building you desire; whether you need one bedroom or four bedrooms; whether you are looking for full luxury or budget-conscious options, there is a Chicago condo to match your desires.

One of the things that sets Chicago condominium living apart from other types of housing is that ownership of a condo necessitates membership in the building’s condo or homeowners’ association (often called an HOA). A condo association is a collective group made up of all the owners of units within a building or complex; membership is mandatory. A condo association is a corporation with legal bylaws, and it is usually governed by a board of directors that is elected by the members. By collecting mandatory monthly assessment fees from members, the condo association pays for all shared amenities and services, such as garbage removal and recycling, grounds-keeping, exterior building maintenance and security. A condo association may also plan social events and mediate disputes between condo owners, among other things.

Before you decide whether or not to put in an offer on a specific condo, we will work with you to conduct research into the condo association that governs that building. For example, here are some of the things we like to do when helping clients consider a potential purchase in a building governed by a condo association:

  • Read all of the rules and regulations (called Covenants, Conditions and Regulations, or CC&Rs in this context) currently required by the condo association. We want to make sure you can live with the conditions and restrictions imposed by these regulations.
  • Find out how much the condo association currently charges in monthly fees (or “assessments.”) Once you have purchased the condo, you cannot legally decline to pay these assessments, and they can range from very little per month to hundreds of dollars per month, depending on the property’s amenities and services.
  • Consider possible future increases in these assessments. Find out how often the association has raised the mandatory assessment fees during its history, and take into account whether your finances will be able to withstand future increases.
  • Ask whether the condo association has cash reserves for emergency maintenance needs. If they do not have cash reserves, this presents the possibility of extra fees (or “special assessments”) in case of emergencies.
  • Determine whether there are term limits for the Board, and if Board members have attended training sessions in efficient condominium management.
  • Determine if there is litigation pending involving the condo association and the circumstances surrounding that litigation if so.

While there are similarities between condo associations, no two are alike, so this research is a vital part of the home-buying process.

SCHOOLS

SCHOOLS

We’ve found that schools can be a big concern for families contemplating a move. At The Apostal Group, our family has grown up in Chicago, and we’ve helped hundreds of families find a corner of the city to call their own.

ATTRACTIONS

ATTRACTIONS

From the famed Magnificent Mile to the Theater District to Lincoln Park and beyond, Chicago offers limitless opportunities for fun and adventure. The city is home to several professional sports teams, including the White Sox, the Cubs, the Fire, the Bears, the Bulls and the Blackhawks.

RELOCATING

RELOCATING

Relocating can be an overwhelming experience. At The Apostal Group, all of our team members are passionate Chicagoans who love sharing our knowledge of the city and the local real estate market.Our team will help you identify your goals, foresee the opportunities and work with you to find the perfect housing options.

HOME IMPROVEMENTS

HOME  IMPROVEMENTS

It is our goal to provide a high-touch scope of service to all of our clients. If you are selling your home, we bring in a professional interior designer/stager and a professional photographer to take magazine-quality photos at no additional charge as a standard of our service.

INVESTING

INVESTING

The Apostal Group has been a family business in Chicago since 1974. Founder and principal broker Niko grew up in Chicago watching his parents develop and grow their real estate business. Co-founder and broker Edie has been a real estate broker for four decades.