Illinois General Assembly - Bill Status for SB2935

Amends the Mobile Landlord and Tenant Act. Requires a mobile manufactured park owner to give written notice by first class mail or personal delivery to each mobile home in the park that the park owner intends to discontinue the use of the land as a park or to sell land if the transaction or sale will discontinue the use of the land as a park. Provides that the notice must be mailed or delivered at least 120 days before the discontinuance of the park or sale. Allows an association that represents 33% or more of the units in the park to notify the park owner that the association is interested in purchasing the mobile park. Allows the association 365 days after this notice is given to purchase the park as outlined in the Act. Provides that if the association and the park owner cannot agree upon a purchase price, the association shall have the right to purchase the property: (i) if the association matches the essential provisions of any existing bona fide offer to purchase the park made by another potential purchaser that the park owner is prepared to accept; or (ii) if there is no such offer, at a purchase price to be established by an appraiser chosen by the association and the park owner. Provides that if the 2 parties cannot agree upon one appraiser, either party may notify the other, in writing, of such disagreement, and the association shall choose an appraiser, the park owner shall choose an appraiser, and the 2 appraisers shall choose a third appraiser, and the 3 appraisers shall establish a value of the park. Voids any rights under this Act if no agreement for a sale signed by the association and the park owner has been filed upon the land records, or if the association has not filed a certified statement to purchase the park at the appraised value.

Replaces everything after the enacting clause. Amends the Mobile Home Landlord and Tenant Rights Act. Requires a mobile home park owner to provide written notice to the officers of the homeowners' association if the park is offered for sale including in the notice the price and terms and conditions of the sale. Provides that the mobile home owners, through their association, have the right to purchase the park if the association meets the terms of the contract within 60 days of the notice. Provides that if a contract has not been executed within that 60-day period, the park owner has no further obligations under this Act unless the owner thereafter offers the park for sale at a materially lower price than the price specified in the notice. Defines "materially lower price" as 20% or more lower than the initial offer of sale. Provides that the homeowners have 10 days to meet the terms of this lower offer. Makes a number of exemptions to this requirement. Authorizes the park owner to record in the county in which the park is located an affidavit that the owner has complied with the Act's requirements. Requires that if the homeowners wish to exercise the rights under this Act, they must form an association that must be a corporation or a not-for-profit corporation with the written consent of two-thirds of all of the mobile home owners. Makes requirements for matters to be included in the homeowners' association's articles of incorporation, bylaws, and power and duties. Makes other changes.

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