Illinois General Assembly - Full Text of HB4703
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Full Text of HB4703  103rd General Assembly

HB4703 103RD GENERAL ASSEMBLY

  
  

 


 
103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB4703

 

Introduced 2/6/2024, by Rep. Abdelnasser Rashid

 

SYNOPSIS AS INTRODUCED:
 
765 ILCS 745/8.5
765 ILCS 745/8.7 new

    Amends the Mobile Home Landlord and Tenant Rights Act. Provides that if a park owner elects to sell, lease, or transfer either all or a portion of the mobile home park, a tenant representing 25% or more of the units in the mobile home park that are occupied by the owners of such units or one or more of the owner's family members shall have the right to make an offer to purchase the mobile home park. Requires the park owner to consider the tenant's offer and negotiate with such tenant in good faith. Sets forth exceptions.


LRB103 32788 LNS 62592 b

 

 

A BILL FOR

 

HB4703LRB103 32788 LNS 62592 b

1    AN ACT concerning civil law.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Mobile Home Landlord and Tenant Rights Act
5is amended by changing Section 8.5 and by adding Section 8.7 as
6follows:
 
7    (765 ILCS 745/8.5)
8    Sec. 8.5. Park closure, sale, lease, or transfer Closure.
9If a park owner elects to cease the operation of either all or
10a portion of the mobile home park or elects to sell, lease, or
11transfer either all or a portion of the mobile home park, the
12tenants shall be entitled to at least 12 months' notice of such
13ceasing of operations or sale, lease, or transfer. If 12
14months or more remain on the existing lease at the time of
15notice, the tenant is entitled to the balance of the term of
16his or her lease up to the date of the closing or sale, lease,
17or transfer. If less than 12 months remain in the term of his
18or her lease, the tenant is entitled to the balance of his or
19her lease plus a written month-to-month tenancy and rent must
20remain at the expiring lease rate to provide him or her with a
21full 12 months' notice.
22(Source: P.A. 95-383, eff. 1-1-08.)
 

 

 

HB4703- 2 -LRB103 32788 LNS 62592 b

1    (765 ILCS 745/8.7 new)
2    Sec. 8.7. Tenant right to purchase mobile home park.
3    (a) No later than 90 days after the notice provided in
4Section 8.5 has been received, any tenant representing 25% or
5more of the units in the mobile home park that are occupied by
6the owners of such units or one or more of the owner's family
7members may notify the park owner that he or she is interested
8in purchasing the mobile home park. The tenant shall have 365
9days after the notice required under Section 8.5 has been
10given to purchase the mobile home park through negotiation or
11a method set forth in subsection (b), or, if the tenant
12proceeds under subsection (c) and reaches an agreement with
13the park owner for purchase of the park, to close on the sale.
14    (b) If the tenant and the park owner cannot agree upon a
15purchase price, the tenant shall have the right to purchase
16the property:
17        (1) if the tenant matches the essential provisions of
18    any existing bona fide offer to purchase the park made by
19    another potential purchaser which offer by such other
20    purchaser the park owner is prepared to accept, if the
21    park owner requires the tenant to pay 102% of the purchase
22    price contained in such bona fide offer; or
23        (2) if there is no such offer, at a purchase price to
24    be established by an appraiser chosen by the tenant and
25    the park owner, and the park owner shall offer to sell the
26    park to the tenant at such purchase price in accordance

 

 

HB4703- 3 -LRB103 32788 LNS 62592 b

1    with this subsection. If the parties cannot agree upon an
2    appraiser, either party may notify the other, in writing,
3    of such disagreement, and the tenant shall choose an
4    appraiser, the park owner shall choose an appraiser, and
5    the 2 appraisers shall choose a third appraiser, which 3
6    appraisers shall establish a value of the mobile home
7    park.
8    (c) Within the 90-day period prescribed under subsection
9(a), a tenant that meets the requirements of subsection (a)
10shall have the right to make an offer to purchase the mobile
11home park without following the method or invoking the rights
12set forth in subsection (b), in which case the tenant shall so
13state when presenting his or her offer to the park owner. The
14park owner shall have the duty to consider the tenant's offer
15and negotiate with such tenant in good faith.
16    (d) A tenant that has the right to purchase under this
17Section may, at his or her election, assign his or her purchase
18rights to the municipality where the tenant is located, the
19housing authority for its area, an agency of the State or a
20nonprofit organization for the purpose of continuing the use
21of the property as a mobile home park.
22    (e) The requirements of this Section shall apply
23separately to each substantially different offer to sell or
24purchase a mobile home park.
25    (f) This Section shall not apply if:
26        (1) the sale, lease, or transfer is to a family member

 

 

HB4703- 4 -LRB103 32788 LNS 62592 b

1    of the park owner or to a trust, the beneficiaries of which
2    are family members of the park owner;
3        (2) the transfer is by gift, devise, or required by
4    operation of law;
5        (3) the sale, lease, or transfer is by a partnership
6    to one or more of its partners;
7        (4) the conveyance of an interest in the mobile home
8    park is incidental to the financing of such mobile home
9    park;
10        (5) the lease is the lease of a lot within the mobile
11    home park to a person who will live in a mobile home on
12    such lot;
13        (6) the sale, lease, or transfer is between joint
14    tenants or tenants in common; or
15        (7) the sale is made by eminent domain.