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.
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'
West Loop's 2BR Midrise Segment: Down to a 20-Day Median Sale
For sellers — mechanics West Loop's 2BR Midrise Segment: Down to a 20-Day Median Sale A 2BR condo in a West Loop midrise building took a median 20 days to sell over the trailing 12 months, down from a median of 24 days in the prior 12-month period. What Counts as This Segment This figure describes
Sell vs. Rent: A Framework for Running the Numbers Yourself
For sellers — decision-stage Sell vs. Rent: A Framework for Running the Numbers Yourself Sell-versus-rent is usually treated as a single yes-or-no question, but it's really a comparison between two different financial and lifestyle commitments. Owners who feel stuck here aren't lacking motivation
What Actually Delays a Downtown Condo Closing (It's Often Not the Buyer)
For sellers — mechanics What Actually Delays a Downtown Condo Closing (It's Often Not the Buyer) When a downtown condo closing slips, the default instinct is to blame the buyer — a financing hiccup, cold feet, a mortgage approval that came apart late. That instinct can sometimes be pointed at the
Car-Free Living Downtown: Which Neighborhoods Actually Support It
For buyers — orientation Car-Free Living Downtown: Which Neighborhoods Actually Support It You're not really asking whether it's possible to live downtown without a car. It is, in plenty of places. The real question is narrower: will the specific errands and routines that make up your week actuall