IL HB5110

Amends the Condominium Property Act to increase the threshold for selling condominium property with 4 or more units from 75% to 85% of unit owners voting in favor.

Maintains existing thresholds for smaller properties: majority of unit owners for 2-unit properties and 66⅔% for 3-unit properties.

Requires unit owners who voted against the sale and filed written objection within 20 days to receive fair market value compensation or outstanding mortgage balance, whichever is greater, minus any unpaid assessments.

Entitles objecting unit owners to reimbursement for reasonable relocation costs determined under the federal Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970.

Establishes a three-expert appraisal panel process to resolve valuation disputes, with at least 2 experts required to agree on the unit owner's interest value.