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Linda Specializes in the Sale and Marketing of Co-op Apartments 

What is a Co-op?

Schedule a tour of Chicago co-op apartments and discover the elegance, charm, and historical beauty of these spacious homes. Discuss your price range, preferred neighborhood, and space requirements, and Linda will introduce you to a selection of co-ops for your criteria. You will quickly see that co-ops are an excellent value and priced less per square foot than comparable condominiums. 

In addition to walking you through the co-op application process, Linda can introduce you to co-op lenders.

 See Significant Sales for a selection of co-ops Linda Shaughnessy has represented or sold over the past twenty five years.

 Contact Linda Shaughnessy at 312.961.6212 or via the form below.

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What is a co-op? real estate, Chicago, co-ops
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In Chicago, co-ops were the first form of apartment ownership, built between 1911-1929. The first “high rises” along the lakefront, .When you purchase a co-op you are purchasing shares of stock in a legal entity, usually an Illinois corporation, that owns the real estate. Along with the shares, you receive a Proprietary Lease that entitles you to occupy a certain unit. Instead of a deed, you own shares in the whole building.
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Shareholders in a cooperative also pay real estate taxes, but they do not receive individual tax bills. A single tax bill is issued to the corporation and shareholders’ proportional share of the total bill, based on the number of shares they own, is included in their monthly assessment, which explains why co-op assessments appear higher than condos.

 

 

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