NOTICE TO TENANTS OF PENDING
CONDOMINIUM CONVERSION OF PREMISES
TO ALL TENANTS IN POSSESSION OF REAL ESTATE KNOWN AS:
LOCATED IN COOK COUNTY, ILLINOIS
Please take notice that the undersigned, as holder
of the fee simple title to the real estate described on Exhibit A attached
hereto and made a part hereof, intends to submit said real estate to the
provisions of the Illinois Condominium Property
Act. A Declaration of Condominium for said real estate shall be recorded
of a date not less than 120 days after the date of this notice and not
later than one year after the date of this notice.
If your tenancy expires within 120 days
of the date of this notice, you have the right to extend the term
of this tenancy on the same terms, including rent, as are now
applicable, for the balance of this 120 day period, provided you
give the undersigned written notice of your intention to do so
within 30 days after the receipt of this notice.
All leases of apartments situated on said
real estate that expire during the next six months will be renewed
by the owner for a term of less than one year, if desired by the
tenant. All leases renewed for this period shall be on the same
terms and conditions as are now contained in said leases except
that the monthly rent shall be increased by ________% or $______.
As a tenant in possession on the date of
this notice, you have a first right to purchase the apartment
in which you reside on substantially the same terms and conditions
as set forth in a duly executed contract to purchase the unit
made within 120 days after the receipt of the notice. Therefore,
the owner will first offer the apartment for sale to you and,
if you do not elect to purchase the apartment within 30 days after
the date the offer is made, you will waive any further interest
in or right to purchase the apartment.
This notice does not in any way relieve
you of your obligation to pay rent during the time you are in
possession of your unit.
Dated this _________day of ______________________,
Signature of Landlord or Developer