Notes on the Downtown Chicago Condo Market
Practical writing on the mechanics of buying, selling, and owning a downtown Chicago condominium — reserve funds and special assessments, rental caps, parking, financing, and the due-diligence questions that actually decide a purchase. Written for people who want to understand how this market works before they move in it.
Same Monthly Budget, Smaller Loan: What Higher Rates Mean for Downtown Condo Buyers
For buyers — getting oriented Same Monthly Budget, Smaller Loan: What Higher Rates Mean for Downtown Condo Buyers You set a monthly budget for a downtown condo, and the budget hasn't changed. What it buys has. The Q3 2026 cost-to-own figures for downtown Chicago condos assume a 7.60% 30-year fixed
Sell Now or Wait for Spring? A Decision Framework for Downtown Condo Owners
For sellers — early stage Sell Now or Wait for Spring? A Decision Framework for Downtown Condo Owners Whether to sell a downtown condo now or wait for spring comes down to one test: does waiting change the outcome enough to cover what waiting costs? Neither season is automatically the right answer
Buying a Downtown Condo Now That Fannie Mae and Freddie Mac Review Every Building: What Your Lender Will Check
For buyers — due diligence Buying a Downtown Condo Now That Fannie Mae and Freddie Mac Review Every Building: What Your Lender Will Check As of October 2026, buying a downtown condo with a conventional loan sold to Fannie Mae or Freddie Mac means the lender reviews the building, not just the buyer
Did September's Rate Jump Show Up in Downtown Condo Prices? Not Yet
Market data — Q3 2026 Did September's Rate Jump Show Up in Downtown Condo Prices? Not Yet Of downtown Chicago condo sales that closed between July 1 and September 30, 2026, 96% went under contract before September 1 and 77% before August 1. With a median of 35 days from contract to close, Q3 2026
Selling a Downtown Condo Under Fannie Mae and Freddie Mac's Tougher Building Review: Get Your Association's Paperwork Ready Before You List
For sellers — the process Selling a Downtown Condo Under Fannie Mae and Freddie Mac's Tougher Building Review: Get Your Association's Paperwork Ready Before You List As of October 2026, when a buyer uses a conventional loan sold to Fannie Mae or Freddie Mac, the lender reviews the seller's buildin
The Appraisal Report Changes November 2, 2026: What Buyers of a Downtown Condo Should Know
For buyers — due diligence The Appraisal Report Changes November 2, 2026: What Buyers of a Downtown Condo Should Know Starting November 2, 2026, appraisals for loans delivered to Fannie Mae or Freddie Mac must use the redesigned Uniform Residential Appraisal Report (UAD 3.6), a single report that
The Appraisal Report Changes November 2, 2026: How to Prepare Your Downtown Condo for an Appraisal
For sellers — the process The Appraisal Report Changes November 2, 2026: How to Prepare Your Downtown Condo for an Appraisal Starting November 2, 2026, new appraisals for loans delivered to Fannie Mae or Freddie Mac must use the redesigned Uniform Residential Appraisal Report (UAD 3.6), a single r
Downtown Chicago Condos Are Selling Faster — Except in the Loop and New Eastside
Market data — Q3 2026 Downtown Chicago Condos Are Selling Faster — Except in the Loop and New Eastside Downtown Chicago 2BR condos sold in a median 28 days over the 12 months ending September 30, 2026, down from 37.5 days the year before — about a week and a half faster. Two neighborhoods went the
Is This the Year to Sell Your Downtown Condo? A Framework, Not a Guess
For sellers — early stage Is This the Year to Sell Your Downtown Condo? A Framework, Not a Guess Owners asking whether this is the year to sell a downtown condo are usually really asking a market-timing question: is now good, or is later better. That's the wrong question to start with. The market'