The Illinois Condominium Property Act: An Analysis of Legislative Efforts to Improve Tenant's Rights in the Condominium Conversion Process

REPORT 7 (2008), http://www.marcusmillichap.com(follow "Research" hyperlink; then follow "Access Research Reports" hyperlink; then follow "National Apartment Report" hyperlink) ("Roughly 315,000 apartments were converted from 2003 to 2006 .... ); Charisse Jones, Soaring Numbers of Rentals Go Condo: Apartment Dwellers Both Hopeful, Fearful, USA TODAY, July 7, 2005, at Al ("At least 70,800 apartment units were sold to condominium developers nationwide in 2004, up from 7,800 in 2002 ....As of June 1, at least 43,900 units ha[d] been sold to developers [in 2005] ....").23.The national median home price rose 55% between 2000 and 2005.James Poniewozik, America's House Party, TIME, June 13, 2005, at 16. See, e.g., COMMUNITY HOUSINO AUDIT, supra note 8 (discussing the impact of condominium conversions on the Chicago neighborhood of Rogers Park).24. Mary Umberger, Home Prices Finally Hit Wall: Decrease is 1st in 11 Years; Chicago Avoids Drop-For Now, CHI.TRIB.,