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Chicago Mun. Code § 13-72-060

Citation
Chicago Mun. Code § 13-72-060
Jurisdiction
Chicago (municipal)
Source
Official source

Full Text

1,778 chars
(2) For a condominium project for which a declaration was recorded on or after July 30, 2012, during the period of 180 days following the receipt of the notice of intent, and during the period of 210 days following the receipt of notice of intent in the case of any person who is over 65 years of age, or who is deaf or blind or who is unable to walk without assistance, any person who was both a tenant on the date of the notice of intent and a current tenant shall have the right of first refusal to purchase his unit.

(3) The tenant must exercise the right of first refusal, if at all, by giving notice thereof to the developer prior to the expiration of 30 days from the giving of notice by the developer to the tenant that a contract to purchase the unit has been executed. Each contract for sale of a unit shall conspicuously disclose the existence of, and shall be subject to, such right of first refusal. The statement in the deed conveying the unit to a purchaser to the effect that the tenant of the unit either waived or failed to exercise the right of first refusal or had no right of first refusal with respect to the unit shall extinguish any legal or equitable right or interest to the possession or acquisition of the unit which the tenant may have or claim with respect to the unit arising out of the right of first refusal provided for in this section. The foregoing provisions shall not affect any claim which the tenant may have against the developer for damages arising out of the right of first refusal provided in this section, nor shall it affect the penalties provided in Section 13-72-110 hereof.

(D) No occupied unit shall be shown to any purchaser or prospective purchaser for 30 days after notice of intent to record, as provided herein, is given.