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.
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
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: 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
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'
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
Pricing a South Loop 2BR: What an 11-Day-Faster Market Means for Your Listing
For sellers — mechanics Pricing a South Loop 2BR: What an 11-Day-Faster Market Means for Your Listing A South Loop highrise condo with two bedrooms took a median 35 days to sell over the trailing 12 months, down from a median 46 days in the prior 12-month period. That 11-day shift is worth sitting
Downtown Chicago 1BR Condos Are Selling 4.5 Days Faster
Market data — Q2 2026 Downtown Chicago 1BR Condos Are Selling 4.5 Days Faster Over the trailing 12 months, downtown Chicago 1BR condos had a median market time of 28.5 days, compared with 33 days over the prior 12-month period — a gap of roughly 4.5 days. The number itself Downtown Chicago 1BR con