A condominium is a single unit of real estate—usually a home or residence—in a multi-unit residential development in which each owner of a unit has both a separate ownership interest (often everything inside the front door)—and a common ownership interest (with other unit owners) in the common areas of the property outside the front door—such as roofs, hallways, driveways, walkways, stairways, stucco, brick, paint, stone, and landscaping.

A condominium development is usually governed by a homeowners’ association (HOA) through its board of directors, elected by the homeowners as provided by the HOA’s declaration and bylaws. Unit owners or homeowners in the association are required to pay monthly HOA dues for the maintenance and repair of the common areas of the property and its insurance.

In Illinois, condominiums are regulated by the Illinois Condominium Property Act (765 ILCS 605/), which outlines the creation, management, and operation of condominium associations. Each condominium owner has an individual ownership interest in their unit and a shared interest in the common elements of the property, such as lobbies, roofs, and amenities. The governance of a condominium is typically handled by a homeowners' association (HOA), which operates through a board of directors elected by the unit owners. The HOA is responsible for the maintenance of common areas, and it is funded by monthly dues paid by the unit owners. These dues cover expenses for upkeep, repairs, and insurance for the common areas. The HOA's declaration and bylaws, which must comply with state law, set forth the rules and regulations for the community, including the rights and obligations of the unit owners.