What is a Co-op?

Housing cooperatives are a unique form of home ownership that offer the equity benefits of home ownership, the maintenance-free lifestyle of renting and the financial freedom of low cost living. Buying into a co-op is not considered buying real property, it’s considered buying one share of the company who owns the property (in this case the collective of the members owns the property). While buying a single family home comes with many benefits, buying into a housing cooperative can provide a personal asset without the headache of traditional home ownership.

 

When you purchase a share in the company stock, you are issued a Membership Certificate entitling you to one dwelling and one vote in the business. Members are able to make improvements to the interior of their home and exterior through landscaping, painting, and remodeling but are not burdened with the responsibility of maintaining the HVAC system, building structure, roof, plumbing, and electrical. 

 

There are many benefits to cooperative ownership.  Some of these include lower real estate tax assessments, reduced maintenance costs, lower turnover rates, personal income tax deductions, member participation, member control, prevention of absentee ownership, and most importantly, pride of ownership.  Due to the low monthly costs associated with cooperatives, our members have more disposable income.

 

So what's the catch? There is none. Our staff is asked this question by just about everyone who walks through our office doors. Cooperative living is making a quick comeback due to the freedom and investment opportunities that housing cooperatives can afford. With rent costs doubling in some areas and the cost of becoming a home owner trickling out of reach for many, housing cooperative ownership is a sure fire way to secure your housing situation.

 

To inquire about a membership purchase Contact us today.

Benefits 

There are many benefits to cooperative ownership.  Some of these include lower real estate tax assessments, reduced maintenance costs, lower turnover rates, personal income tax deductions, member participation, member control, prevention of absentee ownership, and most importantly, pride of ownership.  Due to the low monthly costs associated with cooperatives, our members have more disposable income.

A Comparison between Renting, Single Family Homes, Condos and a Housing Co-op
Office Hours

 

Mon:    9am - 4:30pm

Tue:      9am - 4:30pm

Wed:    9am - 4:30pm

Thur:    9am - 4:30pm

Fri:        9am - 4:30pm

Contact Details

 

63 Cedar Street

Park Forest, IL 60466


T: 708-747-3833
 

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