Guide To Chicago High Rise Condos

Just the Most Awesome Guide to Chicago High Rise Condos… Ever!

Perhaps one of the most thrilling things about Chicago high rise condos, aside from the spectacular views, is the honest to goodness city vibe. Yes, when you’re in one of the fabulous Chicago high rise condos, there is no mistake that you’re in the big city. Another special feature to high rise living is the access to luxury amenities you’re unlikely to find in a single-family home. Of course, like all condos, Chicago high rise condos don’t require the maintenance or repair of the building or grounds that is pretty much obligatory with detached home ownership.

So what do we have so far… height, luxury, amenities, birds, views, and zero maintenance? Fabulous, right?

Not so Fast… Read this High Rise Recap First

Before jumping in, or shall we say launching up high rise living, we first must determine this is the direction for you by mentioning a few simple points:

Community Living. Moving into Chicago high rise condos means you are joining a community. That’s right, the likes and dislikes of your neighbors and fellow H.O.A members will be factoring into many of your decisions and living considerations. They also may weigh in on dear old Fido. Yeah, what about Fido? Although many buildings permit domestic pets, such as cats or dogs to live in a condo (size restrictions may apply), you are limited as to what kind of pet you can call “family.” Chinchillas, foxes, boa constrictors, Madagascar hissing cockroaches… you get the idea. You now have a community of condo owners to consider before introducing that wild species into your home.

Turn up the Volume. Or not. Now that your family just grew to include about 50+ condo owners, you will have to conform to the rules of the community, including noise levels. Most Chicago high rise condos implement a “quiet period” from a certain time at night through the morning. Depending on your lifestyle, i.e. if you party all night and every day, then issues may arise.

Okay, now that we got that unpleasantness out of the way and you’re darn sure you’re ready for to shop for Chicago high rises, let’s get this guide to Chicago high rise condos on the road!

Guide To Chicago High Rise Condos – Considerations Before Taking The Plunge

Let’s say a condo has stolen your heart and you’re ready to learn everything about it, here’s what to ask:

Reserve Funds: You want to learn every intimate detail of your soon-to-be-condo, so first step is to explore if there’s any drama with the building association. Namely, if the condo owners are selling because they know of an impending assessment. H.O.As hold regular board meetings to discuss the financial, maintenance, and legal issues surrounding the building. Make sure that the association’s reserve funds aren’t depleted and sufficient to handle any issues that crop up. As well, peruse the meeting minutes over the past year to determine if there are any issues that have not been resolved (i.e. leaky roofs, plumbing issues, etc.). You want to know what you’re getting yourself into before you’re in it.

Parking: Generally, parking spaces are married to the condo unit. The parking situation will depend on how many spaces the previous owner purchased with the unit. If you need two parking spaces, but only one space comes with the unit, then you may have an opportunity to purchase or lease an additional space – simply ask management for details.

HOA Dues: Imagine! The very luxurious amenities that attracted you to high rise living often come with a price tag. The price tag a.k.a “HOA dues” are monthly payments to the association to cover the maintenance, staff payroll, insurance, reserves (see above), and repairs of the building. Many factors play into how much your HOA will be, such as when the building was constructed, what amenities are included, and more. Before sticking your nose at what may seem like a steep HOA, particularly if you are currently in your own home, compare your current expenses (pool maintenance, lawn care, trash pickup, gym membership, etc.) and see how the HOA fees align. You might even end up saving money.

Leasing your condo: If you’re planning on purchasing the unit as an AirBnB investment property, doublecheck the restrictions, if any, on lease units. High rises may have more restrictions to leasing a unit than a single-family home. For example, some buildings may call leasing units verboten entirely, while others may insist that the prospective tenant meet approval from the condo board. Before you sign your high rise condo lease, be sure that you’re clear on whether you can lease your condo if the desire or need arises.

Storage Facility: You say you’re a “collector,” others say you’re simply a packrat, either way you may want to inquire about storage options at your new high rise. If you tend to hang onto stuff, you’ll need a place for your stuff. While the challenge of de-cluttering your life may be intriguing, you must stare at reality head-on and determine if you can bare to part with your old KISS albums, or whatever. You may be able to purchase extra storage space (at a price), or you might get lucky and come to find that a storage unit comes with your fabulous condo.

So, what do you say? Are you read to get your feet wet in the pool that is luxury condo living? Check out our listings for high rise condos in Chicago and love the high rise lifestyle.

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