Acquiring a luxury condominium means entering into a multi-million dollar business partnership with the Homeowners Association (HOA). To insulate your investment from unexpected special assessments and structural liabilities, we subject every potential building to our rigorous 4-Tier Luxury HOA Health Assessment.
We evaluate the financial bedrock of the association by analyzing the latest independent reserve study.
Funding Percentage Goal: We look for associations maintaining a minimum of 70% to 100% funding levels.
Deferred Maintenance Horizons: We map out the anticipated lifecycle of major capital expenditures—such as roof replacements, parking garage resurfacing, and common area renovations—against the association's current savings trajectory.
Under Illinois law, the Section 22.1 disclosure provides a snapshot of an association’s financial status. We go deeper than the basic form.
24-Month Minute Audit: We review two full years of board meeting minutes to track unrecorded discussions regarding upcoming capital projects, fee increases, or unit disputes.
Litigious Risk Mapping: We analyze any pending or historical litigation involving the board, developer construction defects, or insurance claims that could impact future insurability or resale values.
A beautiful lobby can mask systemic mechanical failures. Our assessment looks at the building’s core anatomy.
Facade & Structural Compliance: For Chicago high-rises, we review the building's compliance status with the City of Chicago’s Critical Inspection Program (Exterior Wall Safety).
Central Plant Lifecycle: We audit the age and maintenance history of shared infrastructure, including chiller plants, commercial boilers, elevator modernization programs, and main riser plumbing lines.
The true culture of a building is codified in its rules and regulations. We evaluate how the association balances property rights with building preservation.
Leasing Restrictions & Ratios: We verify rental caps, minimum lease durations (e.g., 12-month minimums to prevent short-term occupancy turnover), and investor-to-owner occupant ratios.
Amenity & Operations Governance: We parse the exact parameters governing shared amenities—such as concierge protocols, pet weight limits, moving-day logistics, and private event space booking rules—to ensure they match your expected lifestyle standard.