Attorney Ranj Mohip is a Chicago real estate attorney. The information in this answer is general information and is not intended as legal advice. Further, answering this question or otherwise contributing as a member of Trulia.com does not create an attorney-client relationship. Remember, consult the best real estate attorney in Chicago or in your respective area.
I would consider how much of a project it would be to get past that first hurdle of the condo association approval. This would be considerable expense to the homeowner association, because it would involve a change to the condominium declaration, the percentages of ownership for each owner, etc that is all recorded with the Cook County officialdom. And all that is assuming that you could get the required number of homeowners to approve that change to the declaration. And the changing of the declaration and guiding the recording of the amended documents would by necessity involve an attorney's help, which means legal fees for the association. It would be an interesting conversation for you to have with your Board of Directors at the least, to discuss the possibility of taking on this project. Good luck! And let me know how that works out for you. Being a condo Board member and officer in multiple condos over many years, my interest is piqued with your idea. :-)
I'm sure they would be happy to give you a brief response, and outline of what might need to be addressed without incurring any costs.