Stickney — Ch. 19 Condominium Conversions § 19-5

(a) Not later than the offering for sale of the first unit, a developer of a condominium of more than three units must:
(1) Have a property report available for distribution to each prospective purchaser and for examination by the village. A developer may make a charge, not to exceed $2.00 for each report so distributed.
(2) Make available for inspection by prospective purchasers, copies of all documents that were filed or required to be filed in connection with the condominium project, with the Recorder of Deeds of Cook County.
(3) Keep a receipt signed by each purchaser acknowledging that the person entering a contract to purchase has received and has had an opportunity to review the property report. Such receipts are to be kept on file in the possession of the developer for a period of three years from the date of signature of the purchaser; and such receipts are subject to the inspection of the village at any reasonable time;
(b) The board of managers of the condominium shall keep a copy of the latest property report for seven years following the date of the property report's initial distribution. Upon reasonable notice, the property report shall be made available for inspection by any prospective purchaser of a unit from a unit owner.