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Q&A: What Majority of Ownership Is Necessary for a Condo to Purchase a Unit? - Q&A: What Majority of Ownership Is Necessary for a Condo to Purchase a Unit?
Q. If a condo association in Chicago wanted to buy a unit, what percentage of ownership is required to have this purchase be approved? I hear it is 75 percent, but another association said it was 67 percent. Also, if it changed from 67 percent to 75 percent, when did it change? — Unit Owner…