Case No. 1-03-0378, Mikulecky v. Bart
Interesting opinion from the First District Appellate Court here in Illinois (that's the one that covers Cook County, including the city of Chicago). Issue: If a seller of a condo unit knows that the condo board is planning to approve a big capital expenditure, such as a major repair, that will require borrowing and levying a special assessment, but the BOD hasn't approved the plan as of the time of disclosure and even of the actual sale to the buyer, does the seller have to disclose that information to the buyer? Answer: You betcha; even though the expense wasn't approved, it was "anticipated."

Condos are creatures of statute. Section 22.1 of the Illinois Condominium Property Act says exactly what has to be disclosed, and it includes "anticipated" capital expenditures. Does "anticipated" mean "approved," as the seller argued? No, says the court. "Anticipated" has a commonly understood meaning. The fact that the seller knew about the planned expenditure through a letter from the BOD and also from going to a finance committee meeting was enough, and it should have been disclosed.