What should a renter do when the apartment building where she lives has gone into foreclosure? Need advice.
A family member just learned that the 24-unit (?) suburban apartment building where she lives is in foreclosure. It is a 2-story brick building with basement (laundry equipment, storage lockers) in a near NW suburb of Chicago, in Cook County. It is not part of a complex. She and other tenants have lived in the building for years without formal leases. They were recently told to mail their rent checks to a "group" whose address is a PO Box in Chicago. Where can she get more info about what is going on from a legal standpoint and who is involved (owners, lenders, attorneys, etc.)? What does she need to watch out for? Should she aim to find another apartment and move out ASAP? Is there any good reason to stay put in the existing apartment and see what happens? Is there any danger of her losing money or personal property? Could she be told to move out on short notice? Is this sort of thing governed by Illinois statues, county codes, or ...? Advice would be welcome. Thank you.
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