Cook County had 5,275,541 residents at the 2020 Census (U.S. Census Bureau), the largest county in Illinois by far. Outside the city, each township has its own elected township assessor working alongside the Cook County Assessor's Office (township assessors), and the county reassesses the north suburbs and the south and west suburbs in different years of its three-year cycle (assessment calendar). It is worth knowing which year is yours when you plan a reserve increase.
First, which statute?
A suburban board needs to know whether it is a condominium or another kind of common interest community, because the rules differ.
- Condominiums (including many townhome developments that were set up as condos) follow the Condominium Property Act, with its duty to budget reasonable reserves (765 ILCS 605/9).
- Other HOAs generally follow the Common Interest Community Association Act, whose budget section requires the budget to show what is intended for reserves (765 ILCS 160/1-45). Small associations may be exempt from most of the Act (765 ILCS 160/1-75); check with the association's attorney.
The recorded declaration tells you which you are. It also tells you which parts the association maintains, which is the single biggest factor in the size of the study.
Townhome HOAs
The usual list: private streets and parking areas, curbs, sidewalks, retention or detention ponds and their outlets, entrance monuments, fencing, mailbox clusters and street lighting. If the association also maintains roofs, gutters and siding, the list doubles and so do the stakes. Freeze and thaw is hard on asphalt and concrete here, so paving cycles deserve a careful look.
Garden condos and mid-rises
Many suburban condo buildings date from a building wave decades ago and are reaching their second or third roof, their second set of windows and the end of original boilers and balconies. A first study for an older building often finds several large items falling due close together. Spotting that early lets the board spread the cost.
Typical fees
Townhome HOAs under 50 homes typically pay $1,500 to $5,000 for a full study; garden condos with 50 to 150 units, $2,000 to $8,000; larger associations with a pool or clubhouse, more. See the cost page for the table and what moves a quote.