Chicago Lease New Flooding Disclosure Questions
Hello, can any Chicago lawyers or property managers shed more light on the new flood disclosure requirements on the RLTO? Specifically, what qualifies as "flooding" to be disclosed. If I have a garden unit in a Zone X (non-flood zone) that experiences some hydrostatic pressure seepage on those huge rain events, does this qualify as flooding? Separately, if I experienced flooding in the past and did major plumbing renovation work to resolve the issue, do I still need to disclose these resolved issues? TIA for your advice!
Most Popular Reply
Here is a good article written by @Mark Ainley
https://www.gcrealtyinc.com/blog/what-is-the-flood-disclosure-for-leases-in-illinois-
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