A lot of legal implications with the Illinois "Plat Act"; County requirements for land subdivision, and possibly City requirements for land division. If the Owner wishes to "condo" the building then Plat Act and Condominium Act must be complied with. If the Owner is "proposing" only at this time, when he finds what is required for subdividing, the Owner may drop the idea. For example, there must be a clear condo definition for what a potential buyer will receive upon purchase, the definitions do not allow Ownership boundaries that are not walls when within a building unless the area is common or undivided use suitable for the situation such as automobile garage parking spaces.
As a Building Official; I would recommend telling the Owner that if he wants to divide Ownership by "plat"; then there must be walls per current code to divide the building at property line with all attendant building services separated into distinct systems.
Keep us informed on what happens with this Owner proposal.