Illinois guide
Illinois HOA document review
Illinois HOA document review operates under the Common Interest Community Association Act (CICAA, 765 ILCS 160), enacted 2010. CICAA covers planned communities other than condominiums and cooperatives.
Risk Intelligence
Get Your Free Condo Risk Report
Expert Matching
Need a real estate lawyer or mortgage specialist?
Section 1-35 requires a resale disclosure within 30 days of seller's written request at a reasonable fee. The IDFPR Ombudsperson provides mediation resources but does not enforce against associations.
CICAA Section 1-35 disclosure requirements
Required content: declaration, bylaws, and amendments, statement of association liens, projected capital expenditures for current and next 2 years, reserve fund status, last fiscal year's financials, pending litigation summary, and insurance coverage summary. Delivered within 30 days at a reasonable fee.
What CICAA does and does not require
Budget transparency (including reserve line items), fidelity insurance for 30+ unit communities, member meeting and notice baselines, member records access. Does not require property insurance, specific reserve funding levels, or open-meeting prescriptions comparable to Nevada or Colorado. The framework is moderate by national standards.
115-percent budget increase trigger
Any board-adopted budget that increases total assessments more than 115 percent of the prior year triggers a member referendum if 20 percent of owners petition. This is a meaningful constraint on assessment growth and a signal worth verifying compliance with.
Smaller-community opt-out
Communities with annual assessment income under $100,000 may opt out of some CICAA provisions. Verify whether the specific community has opted out and what the implications are for the available statutory protections.
Illinois legal references
- 765 ILCS 160 — Common Interest Community Association Act (CICAA)
- CICAA Section 1-35 — Resale disclosure
- 225 ILCS 427 — Community Association Manager Licensing Act
Informational only. Not legal advice. Always confirm against current statute and counsel.
Need help applying these Illinois statutes to your specific situation? We can connect you with state-licensed counsel and specialists familiar with this exact regulatory environment.
Find a Illinois specialist →Reviewer's checklist
- Request the CICAA Section 1-35 disclosure (within 30 days)
- Verify required content is included
- Request declaration, bylaws, and amendments
- Confirm fidelity coverage for 30+ unit communities
- Verify 115% budget-increase compliance
- Confirm whether community has opted out of CICAA (under $100K)
- Request 18+ months of board minutes
- Check for any IDFPR Ombudsperson complaints filed
- Request an explicit litigation summary
- Verify CAM licensing if professionally managed (225 ILCS 427)
Want this same review on your actual documents? We do it free, with page citations you can verify.
Get My Free Risk Report →Risk Intelligence
Get Your Free Condo Risk Report
Upload condo or HOA documents for a free risk review. We read reserve studies, budgets, meeting minutes, insurance summaries, and assessment exposure — every finding linked to the exact page.
Expert Matching
Need a real estate lawyer or mortgage specialist?
We can connect you with vetted real estate lawyers, mortgage brokers, and insurance brokers familiar with the specifics of condo and HOA transactions.
- HOA lawyer
- Mortgage broker
- Insurance broker
Related risk areas
Read these next to round out your due diligence
Condo document review
A condo document review is the structured analysis of every disclosure document your seller or association has provided — declaration, bylaws, rules, reserve study, budgets, financials, meeting minutes, insurance summary, estoppel or resale certificate, and any pending special assessment notices.
Governance risk
An association's governance health is a leading indicator of every other risk.
Special assessments
Special assessments are the single largest source of financial surprise in condo and HOA ownership.
FAQ
Frequently asked questions
Risk Intelligence
Get Your Free Condo Risk Report
Upload condo or HOA documents for a free risk review. We read reserve studies, budgets, meeting minutes, insurance summaries, and assessment exposure — every finding linked to the exact page.
Expert Matching
Need a real estate lawyer or mortgage specialist?
We can connect you with vetted real estate lawyers, mortgage brokers, and insurance brokers familiar with the specifics of condo and HOA transactions.
- HOA lawyer
- Mortgage broker
- Insurance broker