Chicago Tenants Purchased Avondale Apartment Building

The Sharpe family acquired their building through a city ordinance that gives residents the right of first refusal.

Updated on Oct. 8, 2026 in Apartments

Bold vector editorial illustration of a Chicago-style two-flat apartment building, depicting local residential architecture in a graphic, outlined style. — The Sharpe family secured their Chicago apartment building in June 2026, marking an early success for the city's Tenant Opportunity to Purchase Act. AI Illustration. Upload story photo >

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Do you support city programs that give tenants the right of first refusal when buying homes?

In June 2026, the Sharpe family successfully purchased their Avondale two-flat, marking a milestone for Chicago's Tenant Opportunity to Purchase Act. The ordinance, which took effect in 2025, aims to preserve housing for long-term residents and prevent building flipping.

Why it matters

The program seeks to protect residents from gentrification by allowing them to buy their homes before they hit the open market. However, critics argue the process introduces excessive bureaucratic hurdles and legal risks for property owners.

Of 279 properties tracked under the ordinance through July 2026, only six tenant associations have been formed. The Sharpe family purchase concluded after 14 years of residency in their 120-year-old building.

The players

Chicago Department of Housing

This municipal agency oversees the implementation and tracking of the city's housing ordinances.

The Sharpe family

These residents of an Avondale two-flat successfully utilized the new tenant purchase ordinance to acquire their building.

The details

The seller complied with the law by notifying tenants of their intent to sell, and the sale proceeded after the upstairs neighbor waived their purchase rights. Sellers in the program often face additional costs, including $750 in title company fees and approximately $1,500 in attorney expenses.

The anti-gentrification law was passed in 2024.
The ordinance took effect in 2025.
Two alderpeople withdrew their wards from the pilot zone in summer 2025.
Properties were tracked under notice requirements through July 2026.
The Sharpes finalized their building purchase in June 2026.

Roadmap

The ordinance represents a significant shift in Chicago's real estate policy by prioritizing resident ownership over market-rate transactions. It follows a broader national trend where cities implement local right-of-first-refusal laws to curb the displacement of long-term renters.

Renters in participating zones may now have a legal pathway to purchase their buildings, though they must organize associations to effectively utilize these rights. Conversely, property owners should prepare for additional administrative requirements and legal fees when initiating a sale.

The takeaway

For tenants interested in building ownership, forming an association early is essential to navigating the notice requirements of the ordinance. Potential buyers should also anticipate a complex legal process that may require specialized legal counsel beyond standard real estate transactions.