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Architectural Styles of Chicago Condos
There are many types of Chicago condominiums such as apartment, townhouse, hotel, villa, and single-family homes. The most common type of condo is the apartment, this includes two, three, and four flat walk-ups, mid and high-rises, penthouses; which usually include roof-top decks and/or multiple levels, duplexes, and lofts.
Townhouses are usually multi-level, this type of Chicago condos can feature full basements and roof-top decks. The most common configuration for this condominium type is side-by-side where each unit has windows in the front and the back, and units are in a row. There is also a back-to-back configuration where the windows are only on one end of each Chicago condominiums unit.
At times bungalows compose the first floor and extend the full length of both units, having windows on two ends. Hotel units are also known as mixed-use hotels, attached condominiums, hotel residences and condominium hotel residences. This ownership can be of two styles; owner-use and private-use. In owner-use, the hotel may rent out an owned unit to a hotel patron.
The difference between an owned unit and a hotel unit is minuscule and the two are interlinked with each other. The units which are private-use owned are not sublet for rent to hotel patrons and usually kept separated from the rest of the hotel, either on exclusive floors or separate wings. All hotel amenities are available to both types. Villas are typically attached single-story units similar to side-by-side duplexes. Single-family homes also referred to as bare-land Chicago condominiums.
In general this condominium type regards residential sub-divisions under the management of a condominium corporation. In other words, ownership of real property includes the actual building and land but the property owners and the managing entity shares the amenities and services provided to the residing community.
A homeowners’ association, usually referred to as a condo association, manages the maintenance of the common areas of the building. Individual owners are responsible for the maintenance and repair of their own units, but the association and its members collectively hold the responsibility of maintaining and preventing disrepair to significant building mechanics which may include elevators, central HVAC, and common area electrical systems.
The main benefits of a condo association are that landscaping and exterior maintenance of the condos is managed by the association and individual unit owners don't have to bother with general upkeep of the building. When a significant repair is needed, association members share the expenses. Therefore, staying in Chicago condominiums where the condominiums association is active has many benefits for the owners.
However, association bylaws, which vary from association to association, may dictate many aspects of a member's ability to choose personalized options for his or her own unit. You should make sure that you know what to expect from a condo association when determining the condo you want to own and include this as a point to discuss with your real estate agent.
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