Different Types Of Chicago Condos
New types of condos are coming up in Chicago. Let’s have a look at some of them:
Vacant land condo
The Vacant land condo consists of vacant land and the owners can decide later on what to build there.
Leasehold condo.
The Leasehold condo is where the purchaser cannot be the owner as the units are built on the leased land.
Common elements
In this of condo they have only common elements like golf course, pool, but no units.
Phased condo - here the common elements are added in phase.
Also. Chicago condos are of diverse types depending on the price. Main types of condos in Chicago are - high-rise or low-rise condos, duplex, triplex, or single detached houses. There are even mixed-use condos, which are part commercial and part residential. The condominium corporation looks after the common areas shared by the owners like the pool, gym, parking garage, lobbies etc with the monthly fee the owners pay them.
In all these condo types the resident association of the condos decides on the rules and regulation that has to be followed by the residents like some condos are built only for adults, some do not allow pets.
Vacant land condo
The Vacant land condo consists of vacant land and the owners can decide later on what to build there.
Leasehold condo.
The Leasehold condo is where the purchaser cannot be the owner as the units are built on the leased land.
Common elements
In this of condo they have only common elements like golf course, pool, but no units.
Phased condo - here the common elements are added in phase.
Also. Chicago condos are of diverse types depending on the price. Main types of condos in Chicago are - high-rise or low-rise condos, duplex, triplex, or single detached houses. There are even mixed-use condos, which are part commercial and part residential. The condominium corporation looks after the common areas shared by the owners like the pool, gym, parking garage, lobbies etc with the monthly fee the owners pay them.
In all these condo types the resident association of the condos decides on the rules and regulation that has to be followed by the residents like some condos are built only for adults, some do not allow pets.
