Carlotta, Renter in Chicago, IL

I live in a co-op and the city want the building to go into receivership, the building a lot of code that are not up to part. what would happen?

Asked by Carlotta, Chicago, IL Thu Dec 1, 2011

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5
If things arent up to code, the building would have to make the changes.
Web Reference: http://AmericorpRe.com
1 vote Thank Flag Link Thu Dec 1, 2011
The city is usually pretty rigid when it comes to violations. Look into repairing the issues and hire an attorney to give your coop possible options.
0 votes Thank Flag Link Sat Jan 7, 2012
basically your invested in a BK and you will be given current market value and your out of luck- everything must be disclosed to the next buyer which means your selling damaged goods and its worth a lot less
Web Reference: http://www.joeschiller.net
0 votes Thank Flag Link Fri Dec 2, 2011
The co- op needs to hire an attorney. In the meantime go and see your Alderman.
0 votes Thank Flag Link Thu Dec 1, 2011
Here is a bunch of answers about that topic. Or you may need to contact this site: http://www.bankruptcyinformation.com/IL_courts.htm and look to their FAQ (frequently asked questions)
0 votes Thank Flag Link Thu Dec 1, 2011
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