1010 Lakeshore Association Case Law

“As you may recall, in its 1010 Lake Shore Association decision, the Illinois Supreme Court
held that a condominium association’s lien for unpaid assessments is not extinguished through a foreclosure until the purchaser has made a post-sale assessment payment, as required by Section 9(g)(3) of the Illinois Condominium Property Act. However, a question remained as to when a payment must be made to be considered “prompt” and thus confirm extinguishment of the lien…”

-Keough Moody