Tuesday, December 18, 2007

Chicago Water Certification Change

We got this little nugget from our title company regarding a change in City of Chicago water certification procedures:

Attached you will find a copy of the Substitute Ordinance from the City of Chicago passed on November 12, 2007 increasing the fee for water certifications to $50 and requiring same for condominium units as well.

Our interpretation of the new requirements for condominiums is that prior to turnover to the board of managers, the developer will be required to apply for a certificate of payment and pay the $50 fee within 30 days prior to the election of the first unit owner board of managers. Thereafter, a separate certificate of payment will be required for the transfer of each unit based on the meter reading, but where there is a single meter, the fee will remain $50.

These changes will apply to all City of Chicago closings on or after Monday, December 17, 2007.


I'll have to look into this further as we have some Chicago sales upcoming. The condo change appears significant. Previously a water certification was not necessary for the run-of-the-mill single unit condo transaction.

1 Comments:

At 9:00 AM, Blogger Apu Ghosh said...

As i know that due to a change in the City of Chicago Water Department’s procedures regarding online water certifications, ATG is only able to pay water certifications that were ordered by ATG. Similarly, if a member orders an online water certification, only the member or entity that ordered the water certification may pay it. Please be aware of this when obtaining a water certification.
Chicago water certification

 

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