Condo Owners Struggle to Salvage an Almost-Empty Building

Chicago Public Radio reports:

Since 1997, Chicago has added almost 150,000 condos to its housing stock. The people who bought those units maybe didn’t fully realize it at the time, but they’re taking part in a big experiment in communal living. Everyone has to pool their money to fix the roof or keep the elevator working. And if your neighbors stop ponying up, you’re on the hook. Now the foreclosure crisis is pushing many condo buildings to the verge of collapse. And one expert says that here and around the country, the whole grand experiment may be falling to pieces.

The struggles of condensed living.