The Home Front

Chicago homeowners are getting soaked by rising property taxes. By Don DeBat Chicago and Cook County’s brainy real estate tax experts are pointing fingers of blame while trying to explain the perfect storm. When tens of thousands of Chicago homeowners realized that their median property tax bills catapulted 16.7 percent in a single year, reality hit them between the eyes. Experts say the tax wave tsunami was caused by the financial death dance between fat-cat downtown commerc

Homeowners in Chicago are reeling from unprecedented property tax increases, leading many to contemplate selling their homes and moving to rental apartments. By Don DeBat Financially squeezed and apparently abandoned by local government, the North Side’s senior fixed-income property owners are wondering if they will have to sell their homes and move to rental apartments or out of state in 2026 to avoid foreclosure and bankruptcy. On November 14, after months of uncertainty an

Photo obtained from Lincoln Park Builders of Chicago. Over 1,000 builders and real estate professionals gathered at the Lincoln Park Builders of Chicago’s Real Estate Forum to discuss civic priorities, market conditions, and future profits. By Don DeBat Looking to 2026 and beyond, Chicago builders likely will have to juggle civic priorities, analyze market conditions, and gaze into the crystal ball on the direction of mortgage interest rates in order to bank future profits. T

Photo by Ralf Kleemann As property tax bills hit Chicago landlords with increases of up to 31.7 percent, renters can expect significant rent hikes next spring. By Don DeBat Rental apartment dwellers and landlords both are beginning to realize that the city of Chicago, Cook County, state of Illinois, and the federal government are not their friends. After months of uncertainty and delay, Cook County officials on November 14 finally mailed the second installment of 2024 propert

Photo by Roman Novitsky Cook County property owners faced a delay in their second installment of the 2024 real estate tax bill, which was mailed out on November 14 instead of the usual August 1. The delays stemmed from the upgrade of the property tax system. By Don DeBat Are you one of the 1.8 million Chicago and Cook County property owners who is wondering why the second installment of the 2024 real estate tax bill wasn’t mailed until November 14 instead of the usual August

Photo by Lev Dolgachov New legislation raises the income eligibility threshold for the Low-Income Senior Citizens Assessment Freeze from $65,000 to $75,000, providing much-needed tax relief to senior homeowners in Cook County starting in 2026. By Don DeBat Chicago and Cook County senior homeowners likely will soon be jumping out of their wheelchairs and doing happy cartwheels thanks to an increased property tax break. On October 23, the Illinois General Assembly passed legisl

(Above) City workers remove water from Lower Wacker Drive near Randolph Street after overnight flooding on May 18, 2020. Ashlee Rezin Garcia/Chicago Sun-Times via AP. By Don DeBat The once extremely profitable Illinois property insurance industry literally is blowing in the wind and battling a rising tide of property damage from weather extremes nationwide. Billions of dollars in losses sparked by California wildfires and forest fires in western states – and an unprecedented

Victorian home in Old Town (above) By Don DeBat The 2025 holidays may be only weeks away, but dark clouds still hang over Chicago’s North Side resale-home market, leaving gold-seeking prospective buyers wondering if they will find a lump of coal in their Christmas stockings. Through the third quarter the North Side residential market continued to struggle with the same year-long hangover headaches—limited listing inventory and strong buyer demand, which keeps pushing home pri

(Above) A coach house (left in photo) in Chicago’s Old Town neighborhood. Click on image to view larger version. ADU photos by Don DeBat. A new Chicago ordinance now allows Additional Dwelling Units, or ‘Granny Flats,’ to be built citywide, signaling a significant step toward addressing Chicago’s affordable housing shortage. By Don DeBat “Granny Flats” finally are rising out of their rocking chairs in Chicago, a world-class city that is desperate for construction of new affor

Economists predict that a recent quarter-point interest rate reduction by the Federal Reserve could lead to mortgage rates as low as 5.75...

Homeowners in Chicago and Cook County are left in limbo as the county struggles to finalize the 2024 property tax bills. Initially due on...

Apartment hunters in downtown Chicago may encounter sharply higher rents next spring due to a significant drop in new rental unit...