Many Illinois homeowners find themselves in a nursing home as they get older. And unfortunately, at least some of those nursing home residents might be mistreated. Most people have heard one or two nightmare stories about nursing home abuse, neglect or retailation. A new Illinois law, passed recently on March 21, 2025, was written to protect nursing home residents from retaliatory conduct. The law, while passed already, does not go into effect until January 1, 2026. What does this new law require? Starting next year, nursing home residents and their families must receive a notice about their rights at least once each year. Nursing homes will be required to train their staff to prevent retaliatory actions. Nursing homes must post information about the protections somewhere where residents, staff and visitors can all see it, But what if all of these measures don’t prevent retaliatory action? In that event, suit may… read more →
Last week we learned about all the wonderful benefits of homeowners’ association (HOA) living, like laying on a bed of roses. Today, we’re going to focus on the thorns. As you may recall from last week, for the purposes of this article, when we say HOA, we are referring to communities of single-family homes, condominiums, townhouses and rowhouses. While there are technical distinctions between these, we are just looking at the big picture. So. . .back to those thorns, starting with the assessment. Many HOAs can be expensive. Sure, it’s nice to have a doorman, a gym, an indoor pool, a rooftop pool, and a party room. It’s nice to have someone else tuckpoint the building, mow the grass, and fix the roof. But all of that costs money. You may not be personally maintaining these items, but you are still paying for them. Assessments can go anywhere from $100… read more →
Have you ever thought about whether a homeowners’ association (HOA) is the right fit for you? When people find the right home, often they do not stop to think about how HOAs affect the purchase of the home, and how HOA living will affect them. Today, let’s talk about some of the pros of being part of a homeowner’s association. Next week, we will look at the other side. First, let’s understand what an HOA is. An HOA is a governing structure for a planned community. While there are technical differences between an HOA and a condominium association, for the purposes of this article and next week’s follow-up, when we refer to an HOA we mean a planned community, regardless of whether it’s a single-family home community, condominium association, townhouses, or rowhouses. The HOA board (and HOA manager, if the HOA has a management company) maintains community standards, sets rules,… read more →
This Article is the third in a series about new real estate related laws in Illinois, effective in 2025. The Illinois Legislature has passed Public Act 103-0754, effective January 1, 2025, which states landlords must inform tenants if the property they are renting is in a Federal Emergency Management Agency (FEMA) Special Flood Hazard Area. This disclosure must be made in writing prior to signing the lease. Specifically, the landlord must disclose if the rental property or any portion of the parking areas have been subjected to flooding in the last 10 years. What happens if a landlord fails to comply with this new law and the tenant subsequently becomes aware that the property is located in a Special Flood Hazard Area? Well, the tenant may terminate the lease by giving written notice of termination no later than the 30th day after the tenant learns the property is in a… read more →
In 2024, Illinois had one of the highest foreclosure rates in the United States. As a whole, the United States is seeing a rise in foreclosures, though it is nowhere near as bad as the recession of 2008. If you are in the market to buy a home, you might have seen listings for properties that are foreclosed and possibly being sold below market value. However, foreclosures are very different from normal real estate transactions, so it is important to know your risks before moving forward. Essentially, foreclosure is when someone defaults on their mortgage and the bank ends up repossessing the property. Therefore, when buying a property in foreclosure, the seller is the bank, not an individual. Unlike an individual, who can make certain representations about the property and has knowledge of its ins, outs, and problems, the bank really knows nothing about the physical condition of the property. … read more →
This Article is the second in a series about new real estate related laws in Illinois, effective in 2025. There are good landlords, and there are bad landlords. The worst of the bad landlords can make life miserable for tenants. Pushed against a wall, tenants might complain to the authorities or try to exercise their rights in some other way. The Illinois Legislature has passed Public Act 103-0831, effective January 1, 2025, to prohibit landlord retaliation. If a landlord violates the new law and sues the tenant, the tenant will have a viable defense and can go after the landlord for damages. The tenant could terminate the lease and demand a return of the security deposit with interest, plus any prepaid rent. If the landlord has tossed the tenant out of the unit or threatened to throw him out, the tenant can recover possession of the unit. The tenant may… read more →
You have a house, you pay the mortgage, keep up on repairs, make improvements, and if all goes well, someday you will pay it off. But what happens to your home if something happens to you? What happens to your family (who may live in the home)? Growing old is part of life. There may come a time when you are no longer living in your house. In that case, your house needs to be transferred to your spouse, your children, other family members or other loved ones. How can you prepare for this transition? An experienced estate planning attorney can help you figure out what the best option for your property will be. You may need a will, a TODI, a land trust, or a revocable living trust. You may need something else. No matter which option you choose, you should discuss your plans with your family. A will… read more →
This Article is the first in a series about new real estate related laws in Illinois, effective in 2025. I have a fair number of clients who buy distressed properties at foreclosure auctions. Occasionally my client buys a home to live in at a judicial sale, but more often than not, it’s investment property. If you are in the business of purchasing foreclosed property from judicial sales and/or auctions, or if this is something you are looking to get into, then you should be aware of Public Act 103-930 S.B., 2919, which was recently signed into law and is effective as of January 1, 2025. Through the end of last year, foreclosure auctions were entirely in person. If you found a foreclosed property you were interested in, you had to physically attend the auction. In this day and age of Zoom, Teams, and Google Meets, this might seem unusual, but… read more →
If you’ve been looking for a home for a while, chances are a listing marketed as a short sale has come across your radar. The price of the home probably caught your eye since it seemed to be way below market value. However, when signing a contract to purchase a short sale, there are many things you need to know. A short sale is not like a regular purchase. First, what is a short sale? A short sale may very well be the last straw before a home goes into foreclosure. Indeed, often a short sale is processed while the home is already in foreclosure. Essentially the owner of the property is behind on their mortgage payments. Instead of the bank foreclosing and taking possession of the house, the bank cuts a deal with the current owner to sell the property and use the proceeds to pay off as much… read more →
If student debt is holding you back from buying a home, the Illinois Housing Development Authority (IHDA) may have a solution. Provided you meet certain criteria, IHDA’s SmartBuy program will not only give you $5,000 towards your down payment or closing costs, but it will also PAY OFF YOUR STUDENT DEBT, UP TO $40,000. It does not matter where you live now. As long as you are buying a home in Illinois and plan to move in within 60 days after you purchase your home, and you meet the other eligibility criteria listed below, you may qualify for SmartBuy. SmartBuy eligibility is based on the following: The property you purchase must be your primary residence. If you currently own a home and intend to purchase your next home with SmartBuy, your lender will decide if you are able to own both homes or if you need to sell the first… read more →