What Are The Basic Parameters Regarding Parking?
Parking is a critical issue when it comes to condominiums, especially in the Lincoln Park and Gold Coast neighborhoods. From a legal standpoint, parking can be handled on one of four different bases: a Rental basis, a Deeded basis, a Limited Common Element basis, or a Licensed basis. From a physical allocation standpoint, parking is provided either on an Assigned-Space basis, or on a General-Admission basis. From a service standpoint, parking is either provided on a Self-Park basis, or on a Valet-Service basis. Several permutations of all of the above are possible.
