At 175 East Delaware Place, more than $100,000 was distributed to 32 individuals through a so-called “Holiday Fund.” When owners asked who authorized it, how it was calculated, and where the records were, the answer from the association’s lawyer was simple: you’re not entitled to see anything.

But the denial letter itself admits facts that undermine that claim — including the use of association resources, staff, and funds to support the program.

This newsletter examines how an allegedly “non-association” fund became embedded in association operations, why that matters under Illinois fiduciary-duty law, and how this episode fits a growing pattern at the building: six-figure sums moved outside normal controls, records repeatedly withheld, and transparency replaced with litigation — even after the association was already sanctioned by a court for doing the same thing.

This is not about holiday generosity.
It’s about governance, accountability, and what happens when boards treat transparency as optional.

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