The Henderson Square Condominium Association v. Lab Townhouses 

Illinois Appellate Court
Civil Court
Condominiums
Citation
Case Number: 
2014 IL App (1st) 130764
Decision Date: 
Friday, July 18, 2014
District: 
1st Dist.
Division/County: 
Cook Co., 5th Div.
Holding: 
Reversed and remanded.
Justice: 
GORDON
(Court opinion corrected 8/21/14.) Plaintiff condo association raised question of fact as to whether developers' concealment of insulation led to their failure to reasonably fund the reserves. Plaintiffs adequately pleaded cause of action for breach of fiduciary duty, and alleged that developers knew, at time of transfer, that repair and replacement costs would be high due to substandard construction and materials. Questions of fact should not be decided by court on section 2-615 motion to dismiss. Developers had duty to ensure that assessments paid by owners during time that developers controlled Board allowed for reasonable reserves to be set aside in case of repair or replacement. (TAYLOR, concurring; PALMER, specially concurring.)