11/16/2025
Why is the attorney review so important when buying a condo in Chicago?
Because you're not just buying a unit — you're buying a piece of the entire building.
That means you need full transparency on what you're walking into.
That’s exactly what the attorney review period gives you.
During this window, you’ll receive the full package:
✅ Financials
✅ Rules & Regulations
✅ Bylaws
✅ Declaration
✅ 22.1 Disclosure
✅ Meeting Minutes
The 22.1 disclosure breaks down reserves, owner occupancy, lawsuits, special assessments, and any major projects.
The meeting minutes? They give you a glimpse into what’s coming next — future repairs, policy changes, or red flags.
Attorney review isn’t just a formality — it’s a critical safeguard to protect you before you sign on the dotted line.
If you're buying in a condo-heavy market like Chicago, this step isn’t optional. It's essential.
—
John Lyons, Licensed Real Estate Broker
IL License #475.156436