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The Board's Master Plan

Updated: Apr 28, 2022

Ever wonder why the Board is so desperate to hang on to power? Why do they want to sit on a condominium association bad so badly that would attempt to steal an election? Daiva is an attorney, Inga is a CPA and real estate agent. They are not retired, unemployed, or bored. So why are they so “interested” in remaining on our Board?

They want to de-convert the condos into apartments, and THEY want to be the buyers

They will do this by acquiring more and more units off market until they have a majority and can approve an acquisition offer. They even put a provision in the bylaws of first right of refusal:

9.02 {a} (1) (v} imposes a right of first refusal or similar restriction on the right of an Owner to sell, transfer or otherwise convey his Unit Ownership;

The offer will be well below market, likely pennies on the dollar. We, the homeowners and investors, will have no choice but to sell at this lowball price because we will be outvoted.

Think you can sell before this happens? Unlikely. You’ll need a cash buyer who will live in the unit. No lender will approve a mortgage on an unincorporated, improperly zoned building in current litigation with the County and others. This is also by design. They don’t want you to sell to anyone but them.

Everything now makes sense. This is why:

  1. They are disrespectful, rude, and dismissive to everyone and harass folks until they are frustrated and leave.

  2. They added a first right of refusal to the bylaws. You call the office and say you want to sell; they buy off market.

  3. They wouldn’t take a vote on the deconversion offer that was submitted in November. They don’t want to sell; they want to buy.

  4. They de-annexed from the Village of Lisle, won’t improve the property, won’t comply with the County, and are in constant litigation using our money. They want to keep the prices depressed so they scoop them up below market.

  5. They acquired at least 17 units off market after the rental restriction and rented them out. They own 30 units that we know of. There are other units controlled by the Association that could be used to increase their vote count.

  6. Inga mentioned in her call for candidates letter that they had executed 2/3rds of their plan and she wanted to finish the final third. Guess what that is?

  7. They want to stay in power so badly. Who else wants to serve on a condo board? It’s unpaid and a headache.

Look out for the nominees and campaign material soon. Please contribute to our legal fund. We are not done in court and we know this Board will fight. You can do so here:

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