Posts made by author 'Danny Leung'
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3
The Buyer's Name Was the Only Thing Not for Sale
Today is Election Day in Chicago. Polls are open until 7 tonight, and in this city housing is on the ballot whether or not it is printed there — a property tax bill already decided one election here this year. The quiet side of this market, the part this article is about, still runs on public rules: assessments, tax levies, recording offices, zoning boards. The people chosen today run those. However you vote: vote. Then let me tell you about the part of the market that never makes the news.
In October 2025, a seven-bedroom house in Lincoln Park sold for $4.5 million — 7,000 square feet of brick and limestone on a 33-foot lot, built in 2010. The Chicago Tribune reported the price, the home's history, and even the seller. GoHealth cofounder Brandon Cruz and his wife, Catherine, had bought the house in 2012 for $3.65 million; they first listed it at $5 million in 2024 and relisted it at $4.85 mil...
27
In Chicago, Housing Costs Already Decided One Election This Year
How property taxes, the Cook County assessor race, and the Illinois governor's race are shaping Chicago real estate in 2026
By Danny Leung, Baird & Warner — Lincoln Park, Chicago
The short answer: In Chicago, the elections that move your housing costs are local. Cook County Assessor Fritz Kaegi lost the March 2026 primary to Pat Hynes after the median Chicago homeowner's tax bill jumped 16.7% following reassessment — the clearest case in the country this year of housing costs deciding an election. On November 3, the Illinois governor's race (a property-tax-cap fight) and Pritzker's statewide zoning plan are what's actually on the line for Chicago homeowners; the mayor is not on this ballot (that's February 2027). Nationally, elections barely move prices — in Chicago, underwrite the tax bill, not just the mortgage. The market underneath makes the squeeze tighter: city inventory has fallen 26.3% in a year (Illinois REALTORS/MRED), nearly half of Chicago homes sol...
20
Chicago Condos in Fall 2026: The Market That Refused to Slow Down
By Danny Leung, Baird & Warner — Lincoln Park, Chicago
I work two markets — Chicago and Washington, DC — and this fall they are telling opposite stories. In DC, condos are sitting: nearly five months of supply, sellers negotiating, prices soft at the entry level. In Chicago, condos are doing the opposite. If you own a Chicago condo, this is your market. If you're trying to buy one, bring your best offer and a sharp pencil for the building's finances.
What the numbers say
Prices are up, supply is down. Chicago condo median sale price hit $420,000 in August, up 8.2% year over year (Illinois REALTORS® / MRED). The MLS's own September tracker (Infosparks) puts the city condo median at $406,000, up 6.8%, with just 1.9 months of supply — down more than 20% from a year ago — and a median market time of only 15 day...
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