When you buy a Condo , you own a piece of the big pie .
This means that if the roof goes or there is a major problem , be it plumbing , elevator, structural etc.

Special assesments will get paid by you whether or not you can afford them.

Ask your Inspector to look at more than between the walls.

Chicago Home Inspector (101)
When I arrive at a job for Chicago area Home or condo inspection one of the first things I look at is the exterior wall covering and any penetrations from outside
The reason for this is that if not sealed water can and will gain entry to the property.
If the exterior wall covering is Brick there will be deterioration,and if it is say vinyl siding then the water will begin to rot the wood causing mold .
Look around the outside perimeter of your property and notice how utility services gain entry to the inside.
Are they sealed , or do they have openings.
A thin coat of morter may not do the job as it will crumble so look for a silicone or urethane based product to give flexability and seal.
Here are a few small examples.

Notice the gap between the brick wall and the vent plate
Water will enter into the brick and travel on the sheetmetal right into your property.
This is also a point where outside air will enter and cost you more on your energy bill.

 Cables are a little different.
notice how when entering the exterior wall covering the cable here actualy provides a raceway for water straight into the property.Notice the lack of a sealant also.

 This cable enters the structure properly.
Notice how the cable loops under then comes back up so that water will actualy drip away from the wall.
Also notice how there is a silicone sealant behind the bushing.
The bushing is the black cap which is often used to help assist the silicone stay put.
Even though most silicones are rated to last up to fifty years they can still detach from the surface.
So please make an occasional check around the outside perimeter of your home part of your routine.It is definatly part of mine When performing a Home inspection or condo inspection anywhere in the chicago area.

WLS channel 7 did a great story on the 10;00 news last night regarding the lack of proper inspection on new construction here in Chicago and the surrounding area.
If you ever used my services you already know that between the physical Home or Condo inspection and the property inspection report that is pretty much a full day for me.
Thanks to the shortage however these Guy's (and gal's) are running around reporting on up to 15 properties a day.It just goe's to show why only a fool would not hire there own Home inspector .
I find more wrong in new construction than in old.
Some of these places I find the porches ready to collapse , which is crazy after the death's which occured a few years back over on wrightwood ave in lincoln park.
Here is a link to the video from last night s news;
http://abclocal.go.com/wls/story?section=investigative&id=5761850

The other day I had my ejector pump in the basement go out.
Unfortunatly I found this out while taking a relaxing morning shower as the water begain overflooing on to the floor from the shower stall.
I you do not know what an ejector pump is , it is what you need if you have any bathroom facilities in your basement in order to counteract gravity.
It brings the waste up high enough so that it can make it's way out of the house and flow into the public sewer system.There is a grinder built into the bottom to help liquefy the waste from the toilet.
Here are a couple pics to help you understand how they work.