Sample report — illustrative only. Fictional Illinois property used for demonstration.

Sample report — Illinois

Streeterville Heights at Chicago, IL

146-unit high-rise condominium, built 1973

Overall riskElevated

The 22.1 resale certificate is complete with the $375 cap fee, but the FISP facade inspection turned up critical-condition findings the board has not yet funded, and a developer-affiliated buyer is reported to have acquired 18% of the units — a Section 15 deconversion concern. Reasonable reserves were waived in 2022.

Get my own report — free See the Florida sample

Key findings

Illinois-specific findings

Elevated

FISP Report 2024 + Board Minutes 2025-02-11

FISP critical-condition findings; repair not yet funded

What we found: Chicago FISP cycle inspection (2024) identified terra-cotta panel loosening on the south facade — classified as 'critical condition' requiring remediation within 12 months. February 2025 board minutes record contractor outreach for bids; the lowest bid is approximately $1.4M. No funding decision has been made.
Why it matters: Critical-condition FISP findings are a regulatory deadline, not a discretionary maintenance choice. Failure to remediate within the prescribed period leads to citations and potentially vacate orders. The $1.4M scope will land as a special assessment, a reserve draw, or both.
What to ask: What's the funding plan and timeline? How will the assessment be allocated, and when will it appear on the certificate?

Concerned about this finding on your documents?

Elevated

Unit Ownership Register + 765 ILCS 605/15

Single-buyer accumulation reaches 18% — Section 15 deconversion concern

What we found: Ownership register shows a single LLC has acquired 18% of units over the past 24 months. Acquisition pattern is consistent with bulk-sale assemblage. Section 15 deconversion requires 75% owner approval (declaration sets the threshold at 75%).
Why it matters: Illinois is the most active condo-deconversion market in the country. Concentrated ownership accumulation is the visible precursor. For an individual buyer, the structural minority-position risk is a unique Illinois consideration — a successful deconversion forces minority owners to sell at the deconversion price.
What to ask: Has the board discussed deconversion or received any inquiry? Are there any other LLC ownership concentrations not visible at the individual filing level?

Concerned about this finding on your documents?

Moderate

Owner Vote Records 2022-09 + 765 ILCS 605/9(c)

Reasonable reserves waived by 2/3 vote in 2022

What we found: Owners voted in September 2022 to waive the 'reasonable reserves' budget provision by 2/3 majority. The waiver is conspicuously disclosed on resale financials as the statute requires. Current reserve balance is $186,000 against a high-rise capital exposure profile.
Why it matters: Illinois permits reserve waiver by 2/3 vote, and many high-rise condos use it. The waiver is legal but a meaningful diligence flag — capital work is then funded entirely by special assessments. Combined with the FISP item above, the funding path narrows.
What to ask: Has the board considered putting reserve funding back on the ballot? What's the relationship between the current capital needs and the waived reserve contribution?

Concerned about this finding on your documents?

Low

22.1 Resale Certificate + 765 ILCS 605/22.1

22.1 resale certificate complete; no rescission window

What we found: Resale certificate delivered within the 10-business-day window at the $375 statutory fee cap. Detailed content present — liens, capital expenditures, reserves (waived), financials, litigation, insurance.
Why it matters: Illinois has no statutory rescission. Late or incomplete disclosure entitles buyers to damages, not cancellation. The certificate is comprehensive, which makes the FISP and Section 15 findings above the determinative diligence items.
What to ask: Is there anything material discussed in board minutes that didn't make it into the certificate?

Concerned about this finding on your documents?

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.

Get My Free Risk Report

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
Realtor

Built for trust

Premium due-diligence software — not a chatbot.

Source citations on every finding

Every risk indicator links back to the exact document, page number, and quoted line. You can verify our work in seconds.

Free with transparent consent — or paid and private

Our free option is supported by limited, opt-in referrals you control. Or pay once for a fully private review with no data sharing.

Consistent, documented analysis

Consistent scoring — same documents always produce the same results. No guesswork, no chat-style answers.

Informational, never legal advice

We surface what your documents actually say so you can ask better questions of your attorney, lender, and inspector.

Documents encrypted on upload (AES-256)Documents deleted after 30 daysYou control which professionals can contact youOpt out of referrals anytime