Thinking about a condo or a townhome in Glenview but not sure which one fits your life, budget, and long-term plans? You are not alone. Many buyers and sellers weigh these options for maintenance, financing, and resale value. In this guide, you will learn the key differences in ownership, fees, rules, lending, taxes, and what to look for in Glenview. Let’s dive in.
Quick definitions under Illinois law
Choosing between a condo and a townhome starts with how you own the property.
- Condominium: You own the interior of your unit plus a shared interest in the building’s common elements. Operations follow the Illinois Condominium Property Act. Review the association’s declaration, bylaws, and budgets to understand rules and costs. You can read the law in the Illinois Condominium Property Act (765 ILCS 605).
- Townhome: Often fee-simple ownership of the unit and the land underneath. Many townhomes are part of a common interest community with an HOA that manages shared areas and rules. Governance often falls under the Illinois Common Interest Community Association Act (765 ILCS 160).
Local zoning, permits, and ordinances still apply to both property types. For Village policies, start at the Village of Glenview official site.
Ownership and maintenance
Your day-to-day responsibilities and control level vary by structure and the association’s documents.
Condo
- Association typically handles the roof, exterior, common systems, landscaping, snow removal, and building insurance for shared elements.
- You maintain the interior from the drywall in.
- Expect more rules and community oversight in exchange for less exterior upkeep.
Townhome
- Many are fee-simple, so you may be responsible for the exterior and yard, unless the HOA covers certain items.
- HOAs often handle shared landscaping or snow removal. Coverage of roofs and siding varies.
Before you commit, verify the unit boundaries and responsibilities in writing. Look for a “responsibility matrix” or language in the declaration that defines what belongs to you and what belongs to the association.
Insurance you will need
Insurance depends on how the association insures the property.
- Condo: You typically need an HO-6 policy that covers your interior finishes, personal property, and liability. Confirm whether the building’s master policy is “bare walls-in” or “all-in.” Request a copy of the certificate of insurance and the full policy details from the association.
- Townhome: Many owners need a standard HO-3 homeowners policy that insures the structure and liability. If the HOA insures exteriors, adjust your policy to avoid gaps.
Always ask for the association’s master policy and confirm what it excludes so you can set the right coverage.
Fees, reserves, and special assessments
Monthly HOA or condo dues vary by building age, amenities, insurance costs, and included utilities. Healthy reserves help fund roof, masonry, elevator, or roadway projects without sudden special assessments.
Review these items early:
- Current monthly fee and what it covers
- Reserve balance and the most recent reserve study
- Five to ten years of special assessment history
- Delinquency rate of owners
- Pending capital projects and funding plans
Low reserves, frequent assessments, and high delinquencies are red flags that deserve a closer look.
Rules and lifestyle factors
Associations manage community standards that shape daily life. Common rules cover:
- Pet policies
- Rental caps or leasing procedures
- Short-term rentals
- Exterior changes and approvals
- Parking and guest parking
- Storage, satellite dishes, and holiday displays
Condos often have tighter common-area controls. Townhome rules vary widely. Read the rules and regulations to ensure they fit your lifestyle.
Parking and storage details
Parking can be deeded, assigned, or first-come, first-served. Storage lockers may be included or rented.
- Verify your parking rights in the deed or association documents.
- Ask about guest parking rules and any fees for extra spaces.
- Confirm where storage is located and how it is secured.
Financing differences to expect
Lenders underwrite condos differently than fee-simple townhomes.
- Condos: Some loans require project approval. FHA and VA have specific condo review standards, and lenders will look at association reserves, litigation, and owner-occupancy levels. Learn about FHA condo approvals on HUD’s condominium page. For VA financing, start at the VA home loan program.
- Townhomes: Fee-simple townhomes are often treated like single-family homes and can be simpler to finance with FHA, VA, or conventional loans.
Action step: Ask your lender early whether condo project approval applies and request association documents right after your offer is accepted.
Cook County property taxes in Glenview
Taxes are based on assessed value and local taxing districts, not ownership type alone. In Glenview, two similar homes in different districts can have different tax bills because of overlapping bodies like schools, parks, and libraries.
- Look up assessed values and exemptions through the Cook County Assessor.
- Review tax bills and payment details with the Cook County Treasurer.
If you qualify, homestead and other exemptions may reduce your bill. Confirm eligibility and deadlines on county sites.
Resale and buyer pool in Glenview
Condos often attract first-time buyers and downsizers who want lower exterior maintenance and access to amenities. Townhomes appeal to buyers who want more space, garages, or a small yard while still benefiting from some shared services.
In Glenview, location influences demand. Proximity to Metra, downtown shopping and dining, parks like The Grove, and local schools can shape buyer interest for each property type. For current median prices, inventory, and days on market, your agent can pull fresh MLS data and help interpret neighborhood differences in real time.
For broader buyer trends and market context, explore the National Association of REALTORS research and statistics.
Key documents for your transaction
Plan for association paperwork and timing requirements.
- Condo resale packet or estoppel: Typically includes fee statements, special assessments, insurance, litigation disclosures, and budget information. Lenders often require this packet before issuing clear-to-close.
- Townhome HOA packet: If a townhome is in an HOA, expect a similar set of disclosures. Fee-simple townhomes without an HOA have fewer documents to gather.
Some associations charge transfer or move-in fees. Clarify proration of dues and any pending assessments at the contract stage.
Glenview-specific checks
Local ordinances and permits still apply to association homes.
- Confirm association approval requirements for exterior work, decks, or windows.
- Check Glenview zoning and permitting through the Village of Glenview site.
- Verify school district boundaries and taxing bodies for the specific parcel using county resources, since these affect taxes and sometimes demand.
Buyer checklist
Gather these items early to avoid delays:
- Declaration and plat of survey
- Bylaws, rules and regulations
- Recent meeting minutes from the last 12–24 months
- Current budget, financials, and the latest reserve study
- Certificate of insurance and master policy summary
- Estoppel or resale certificate
- List of pending litigation and special assessments
- Schedule of dues and what they include
- Rental policy and current owner-occupancy and rental percentages
- Parking and storage assignments
Smart questions to ask
When you speak with the manager or board, ask:
- How much is in reserves and when was the last reserve study?
- Are any capital projects planned in the next 3–5 years?
- What is the owner-occupancy versus rental ratio?
- What is the current delinquency rate for dues?
- Is the association involved in any legal action?
- What does the master insurance policy cover and exclude?
- Are short-term rentals permitted or capped?
Inspection and negotiation tips
- Hire an inspector experienced with multi-unit buildings.
- For condos, ask for a close look at balconies, waterproofing, and signs of leaks.
- Build time into your contract for obtaining and reviewing association documents and for lender review.
Red flags to investigate
- Low or no reserves
- Frequent or large special assessments
- High owner delinquency rates
- Active litigation involving the association
- High rental concentration affecting financing or insurance
- Vague or insufficient master insurance coverage
- Evidence of deferred exterior or common-element maintenance
Which is right for you?
Choose a condo if you want minimal exterior maintenance and do not mind more community rules. Choose a townhome if you want a feel closer to single-family living, potentially with a garage or small yard, and you are comfortable with some exterior responsibilities or a hybrid HOA setup. In both cases, the best move is to study the governing documents, the budget and reserves, the insurance, and the property’s location within Glenview.
If you want a clear, side-by-side look tailored to your price point and timeline, reach out to Jennifer Haug. You will get local guidance, current MLS data, and step-by-step support from offer through closing.
FAQs
What is the legal difference between a condo and a townhome in Illinois?
- Condos are governed by the Illinois Condominium Property Act (765 ILCS 605), while many townhome HOAs fall under the Common Interest Community Association Act (765 ILCS 160).
What insurance do I need for a Glenview condo?
- Most condo owners need an HO-6 policy for interiors and liability and should review the association’s master policy to fill any coverage gaps.
How do HOA fees and reserves affect my purchase?
- Higher reserves and clear funding plans reduce the risk of special assessments, while low reserves and high delinquencies are warning signs.
Can I use FHA or VA financing for a Glenview condo?
- Yes, but condo projects may require additional review; see HUD’s condo guidance and the VA home loan program for details.
How are Cook County taxes set for condos vs townhomes?
- The tax rate is not based on ownership type; check assessed value and exemptions with the Cook County Assessor and bills with the Cook County Treasurer.
