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The Independent UK
The Independent UK
Business
Jasmine Fernández

Chicago area community sees HOA fees jump from $44 to $1000 a year

A proposed fee increase to fix a 97-year-old dam on a private Illinois lake has left some residents struggling to afford the new rate, with a few warning the costs could force them out of their homes.

The Master Property Owners Association in Wonder Lake, a private lake community in northern Illinois, is considering raising its yearly assessment from $44 to nearly $1,000 per lot. The association oversees approximately 5,500 properties in the McHenry County village, funding the ongoing maintenance of the local lake and its surrounding infrastructure.

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