G ood News For High Rise Condo Owners
With all of the bad news that came out of the Real Estate market , it is nice to report on the good when it happens
It may be recalled that much has been made over recent years regarding pieces of Terra cotta
and other exterior wall cladding raining down on unsuspecting pedestrians in the down town areas of Chicago
The city council responded to protect the public by in acting laws requiring extensive inspection to be paid for
out of association building funds.
Unfortunatlly the expense of obeying these laws
proved to be far to burdonsome for many unit owners when their assesments skyrocketed.
The city council aggreed and has rolled back some of the requirements starting in 2008 these are some of the changes.
Keep in mind that a high rise is defined
as 80 feet or more .
1) Inspection coverage is reduced to 25 percent from the previous 50 percent (I.B.C recommendation)
2) Invasive inspection has been reduced to one for each facade rather than the previously
3) Inspection can be done with individual chairs (boatswains )
rather than scaffolding.
4)..Inspection reports will need to be done once every six years rather
than the previous every two years.