Author: Tamika Marks

As someone who's spent over two decades navigating the ins and outs of Chicago real estate, I know how closely we all watch those Cook County property tax bills. This year, the wait has been longer than usual, but the news is finally landing: on September 1, about 1.8 million property tax bills will be mailed out, following another round of delays. For roughly 1.3 million homeowners—including many of you—those bills will reflect an increase. And it’s not just residences feeling the pinch; nearly 100,000 Cook County businesses will also see higher property taxes. Whether you own a home or run a business, September 1 is a date to circle on your calendar. Staying ahead of these changes is crucial, especially when it comes to protecting your investment and making informed decisions. Having worked extensively with both traditional and distressed properties, I always keep an eye on how shifts like these can shape the local market.

Here’s a quick update on Chicago’s housing market this month. Homes are selling at a similar pace as last year. The number of available homes and those being purchased remains consistent.

As someone who’s spent over two decades navigating Chicago’s ever-shifting real estate market, I’ve seen firsthand how the idea of ‘price stability’ isn’t as straightforward as it sounds—especially in the US. When prices climb for something like tuition or hotel rooms, it’s often because people are spending less elsewhere—think about how technology has become more affordable, while certain experiences and assets have grown more expensive. This dynamic goes well beyond what any central bank can control, since so many factors—from global supply chains to local demand—shape what we all pay. The reality is, there’s no true, lasting price stability. Instead, changing prices often signal growth and opportunity, not just rising costs. For those of us who make a living guiding clients through buying and selling homes, understanding these shifts is key to finding value—whether in a hot market or a shifting one.

For those in DuPage County dealing with storm damage from July 2-4, there’s now a practical resource: low-interest recovery loans are available through a federal program designed to help you recover costs not covered by insurance or other sources. The disaster declaration specifically covers our area, so homeowners, renters, businesses, and certain nonprofits can tap into this support tailored to losses from those early July storms. Having spent over two decades navigating both traditional and distressed property situations, I know how overwhelming post-storm recovery can be—especially when insurance only goes so far. These targeted loans offer another funding option for filling those gaps and getting your property, or your business, back on track after the recent storms.

Labor Day in the United States celebrates the contributions of workers everywhere, while also unofficially marking the final big summer weekend before fall takes over.
It’s known for backyard barbecues, road trips, and that classic tradition of buying things you didn’t know you needed because “it’s on sale.”
Beaches, parks, and grills reach peak activity as everyone tries to squeeze every last drop of summer fun out of the long weekend.
Happy Labor Day! Wishing you a fun, easygoing weekend filled with good vibes, great food, and absolutely no thoughts about Monday.

In Chicago, buying showed a ~8% housing-cost edge over renting, placing the city among markets where ownership looked financially competitive this year.
That comparison centered on estimated monthly ownership costs, using fixed-rate financing and a 30-yr term rather than looking only at a mortgage payment.
Chicago buyers were urged to include insurance, maintenance, extraordinary repairs, association fees, and property taxes, because overlooked ownership costs can quickly strain household budgets.
Experts said the financial break-even point usually comes after ~6 yr in one home, making job stability and expected length of stay key.
Digital budgeting tools can help Chicago households project long-term upkeep and build emergency reserves before buying, supporting more confident decisions and fewer post-closing surprises.