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.
Downtown Chicago Condos Are Selling Faster — and Sellers Are Still Getting Close to Full Price
Market data — Q2 2026 Downtown Chicago Condos Are Selling Faster — and Sellers Are Still Getting Close to Full Price Downtown Chicago 2BR condos sold at a median 99.27% of original list price over the trailing 12 months, compared to 98.73% in the prior 12-month period. Downtown Chicago 1BR condos
How to Read a Downtown Chicago Condo Building's Reserve Balance Before You Buy
For buyers — due diligence How to Read a Downtown Chicago Condo Building's Reserve Balance Before You Buy A reserve balance is usually one of the first numbers a downtown condo buyer asks about. It's also the number most likely to be misread on its own, because a dollar figure without context does
Selling a Downtown Condo When You're Divorcing: The Practical Sequence
For sellers — situation Selling a Downtown Condo When You're Divorcing: The Practical Sequence If you're in the middle of a divorce and you and your co-owner also need to sell a downtown condo, I want to talk to the actual situation you're in, not a generic market overview. This is about getting t
Downtown Condos Are Selling Faster Than They Were a Year Ago — Larger Units Gained the Most
Market data — Q2 2026 flagship Downtown Condos Are Selling Faster Than They Were a Year Ago — Larger Units Gained the Most A downtown Chicago 2BR condo took a median 31 days to sell over the trailing 12 months, down from 42 days the year before — an 11-day drop. The improvement is sharper for larg
You've Been Renting Out Your Downtown Condo for Years — Here's What Selling Looks Like Now
For sellers — situation You've Been Renting Out Your Downtown Condo for Years — Here's What Selling Looks Like Now You moved out of your downtown condo years ago, put a tenant in it, and let it run as a rental ever since. Now you're thinking about selling, and it's worth saying plainly: this is no
Why Financing an Older Downtown Condo Isn't the Same Process as Financing a New One
For buyers — due diligence Why Financing an Older Downtown Condo Isn't the Same Process as Financing a New One A downtown condo mortgage is underwritten twice: once for the buyer, and once for the building. A borrower can bring strong credit and a substantial down payment to the table and still ru
Deeded vs. Leased Parking in Downtown Chicago Condos: What's the Real Difference
For buyers — due diligence Deeded vs. Leased Parking in Downtown Chicago Condos: What's the Real Difference A listing that says "parking included" can mean two very different things. The question isn't only whether a condo comes with a spot — it's what kind of asset that spot actually is. The Ques
When a Special Assessment Changes Your Timeline to Sell
For sellers — situation When a Special Assessment Changes Your Timeline to Sell You were already turning the idea of selling your condo over in your mind — maybe seriously, maybe just as a background thought. Then the condo association sent notice of a special assessment, and suddenly the decision
3BR Downtown Chicago Condos Are Selling Markedly Faster Than Last Year
Market data — Q2 2026 3BR Downtown Chicago Condos Are Selling Markedly Faster Than Last Year Downtown Chicago 3BR condos had a median market time of 41 days over the trailing 12 months, compared to 57 days in the prior 12-month period — a 16-day decrease. Anyone still assuming this segment moves a