This week, we wanted to talk about something that is increasingly important to discuss with your agent: what could potentially happen after your offer gets accepted.

We’re the Ben Lalez Team, and over the years, we’ve tracked the outcomes of hundreds of our own under-contract deals to understand exactly why some fall apart. We’re obsessed with understanding the data and what it means for our clients.

According to a recent Redfin report, about 17% of residential transactions in Chicago fall through before reaching the closing table. That’s roughly 1 in every 6, and slightly above the national average of 16%. Chicago runs a bit hotter than average, so it’s important to know how to prevent this from happening to you.

Put Thought Into The Agent You Hire

When we looked at which deals actually fell apart in the marketplace, close to 50% of them came from buyers who didn’t have a strong prior relationship with their agent before going under contract. A lot of those buyers had originally found their agent randomly through a third-party portal like Zillow or Realtor.com.

We’re not knocking the platforms, and it feels convenient to pick someone who looks good on a website, but real estate is ultimately a relationship business. When something goes sideways mid-deal (and something always comes up), buyers who don’t fully trust or know their agent will start panicking.

Some common issues we see include less-than-ideal inspection reports, sellers who won’t negotiate on repairs, and lenders requesting more documentation at the last minute. These happen often enough that our team is not only prepared for them – we’re waiting to spring into action when they do come up.

By the way, we recently wrote about some changes happening with how Chicago listings appear on Zillow. If you use it to search for homes, it’s worth a read before you get too deep into your search.

So our approach is simple. 

We put real time into talking with buyers before we write a single offer. We want to understand what you’re looking for, obviously. But more than that, we want you to understand what’s coming. For us, managing expectations and showing what could potentially pop up down the road helps you prepare.

The First Two Weeks Are Key

Most deals that fall apart will happen within the first 14 days. That’s the attorney review and inspection window in Illinois, and it’s the first stressful stage of the whole process.

Chicago is made up of a lot of old housing stock, a lot of which was built between 1900 and 1940. If you have a 100-year-old building on your hands, you can definitely expect 100-year-old issues. For example, this could mean galvanized plumbing, aging electrical panels, or masonry that needs work. None of these are automatically deal-breakers, but buyers who walk into these kinds of purchases unprepared can easily freak out.

There are two things that could kill the deal, and this is what we watch for.

The “Deep Discount” Danger

If a seller is willing to go 10% or more below asking price, there’s usually a reason. Sometimes it’s a motivated seller who just needs to move on. But sometimes it’s because the seller already knows what the inspector will find, and they’ve priced it in. When the inspection confirms the issues and the seller won’t budge on repairs, the deal dies.

Condo HOA Surprises

When you buy a condo here, you’re entitled to something called the Section 22.1 disclosure, which is essentially a financial health report on the entire building. This report can reveal a lot, such as signs of underfunded reserves, pending special assessments (which can be very expensive), or multi-million-dollar renovations or repairs. We’ve seen all-cash buyers walk away cold after reading one of these documents.

So what does the Ben Lalez Team do?

For homes, we walk through every property with our clients before the inspection and flag what an inspector is likely to find. That way, there are no surprises when the report comes back three days later.

For condos, we’ve bought and sold in every building in the city. We have a running database of which buildings are problematic and which are good buys, and we’ll share our insights with you before you fall in love with the wrong unit.

When The Appraisal Comes Up Short

With rates where they’ve been, a lot of buyers are stretched really close to the limits of what their lender will approve. And because many Chicago neighbourhoods remain competitive, buyers sometimes need to bid above the asking price to win.

Here’s where it can get complicated. 

If you offer $540,000 on a place listed at $500,000 and the bank’s appraiser says it’s worth $510,000, your lender will only loan against $510,000. If you don’t have an extra $30,000 sitting around to cover the difference (a lot of people don’t), and the seller won’t drop the price, the deal falls apart.

How do we protect you?

When we’re writing an offer above asking, we negotiate appraisal gap coverage directly into the contract, just in case.

By the way, there’s a difference between a solid pre-approval from a local Chicago lender and a five-minute online pre-qualification. We’ve seen deals fall apart in the final week because of lender issues that a good pre-approval process would have caught in week one.

That’s why we help our buyers get solid pre-approvals before putting in any offers.

The Importance Of Tight Deadlines

The average Chicago closing takes about 41 to 45 days from accepted offer to keys. Our data showed a pretty clear pattern: every day a contract stays open past that 45-day mark, the chance of it falling apart goes up.

This happens more in the higher-end suburban markets. Longer escrows mean more things can jeopardize the closing, like interest rate swings or changes in life circumstances. In areas like Barrington Hills, 90-day escrows on luxury properties gave cash buyers plenty of time to talk themselves out of deals they would have happily closed on at 30 days.

What do we do?

Our default is to negotiate 21 to 30-day closings whenever we can. A shorter timeline keeps everyone focused, forces earlier resolution of any issues, and closes the window for interest rates, job situations, or buyer remorse to show up.

Making Sure Your Closing Is Successful

Deals that close smoothly don’t just happen on their own. It starts with a buyer who goes in prepared with a fair offer on a well-maintained property, an inspection-and-negotiation focused on real issues rather than cosmetic ones, a strong local lender, and a tight timeline that gets the keys in your hand in 30 days.

That is the discipline we build into every one of our deals.

If you’re thinking about buying in Chicago and want to understand how you can have our experience and strategy on your side, contact us here or call us at (312) 766.9073 before you start looking at homes. 

We have an exact process that walks you through what to expect. Our experience in Chicagoland, along with over a decade of hard data, is here to benefit you.

We’re ready to talk anytime!

The post Why 1 in 6 Chicago Real Estate Deals Fall Through in 2026 appeared first on Ben Lalez.

If you live in the city, you walk past world-famous buildings every single day, and most of us barely even take a moment to appreciate them. This week, we thought it was worth digging into the story behind Chicago’s unique architecture.

Before we get going, we’re the Ben Lalez Team, and we’ve spent over a decade helping people buy and sell homes all around Chicago. One thing we hear all the time from people moving here is that they’ve never been anywhere that feels quite like this city.

A lot of this goes back to how the city was built, so let’s get into it!

It All Started With A Fire

From the Library of Congress: https://www.loc.gov/pictures/resource/ds.14600/

You can’t talk about Chicago architecture without starting in October 1871.

The Great Chicago Fire burned for two days, wiping out 3.3 square miles of the city. Around 17,500 buildings were destroyed, and more than 100,000 people became homeless.

The city had to rebuild 17,500 buildings in a hurry, and instead of using old designs, Chicago decided to try something different. At the time, the city was growing faster than almost anywhere in the country, and it had money to spend. 

The best architects of the era showed up because this was the only place willing to let them actually try things. Paris or Boston wasn’t going to let them experiment. But Chicago had no choice but to figure it out from scratch. That’s why we got the skyscraper and everything that followed.

The Chicago School: Where The Skyscraper Was Born

By JohnPickenPhoto from Chicago, USA – Monadnock Building, Chicago, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=129115846

In 1885, William Le Baron Jenney finished the Home Insurance Building at the corner of LaSalle and Adams. At 10 stories tall, it was the first building in history built on a steel frame rather than thick masonry walls.

At that time, taller buildings needed thicker walls at the base. This meant typically 6 to 8 feet of solid masonry on the ground floor, just eating up usable space. Jenney decided to move the load to an interior steel skeleton instead, and all of a sudden, you could build up without building wide.

Chicago became the birthplace of the skyscraper.

The Monadnock Building on West Jackson is another landmark from this era, completed in 1891. It’s 16 stories high and holds the record for the tallest load-bearing brick building ever constructed. Its walls at the base are 6 feet thick, which is exactly why nobody ever tried to build a masonry tower taller than this one. It was basically the proof of concept that Jenney’s steel-frame approach was the only practical way forward.

The Rookery Building at 209 South LaSalle was finished in 1888 by Burnham & Root. Frank Lloyd Wright later renovated the interior atrium in 1905. The exterior is dark and heavy. The interior is airy and intricate. The contrast is remarkable, and it’s open to the public.

Louis Sullivan And “Form Follows Function”

By Unknown author – https://collections.carli.illinois.edu/cdm/singleitem/collection/nby_teich/id/417543, Public Domain, https://commons.wikimedia.org/w/index.php?curid=67087946

The Chicago School came with a philosophy from one man: Louis Sullivan.

Sullivan’s big idea was “form follows function,” the idea that a building’s design should grow directly from its purpose rather than from decoration slapped on top.

What’s amusing is that Sullivan’s own buildings are covered in incredibly intricate detail. His ornamental ironwork and terracotta are some of the most elaborate you’ll see in this city. We think what he meant was that the decoration should make sense, that it should match the building’s logic rather than contradict it. His Carson Pirie Scott building on State Street is a good example of this. The structural grid is clearly visible, and the elaborate decorative panels at the base frame the storefront in a way that makes commercial sense.

Sullivan mentored Frank Lloyd Wright, and this is where the story goes next.

Prairie Style: Frank Lloyd Wright’s Response To The Midwest

By grego1402 – La prairie house de #franklloydwright #chicago #robiehouse, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=129990075

Wright didn’t stay in Chicago long. He eventually moved out to Oak Park, which is where most of his early work happened, and his thinking went in a direction that was distinctly his own.

Prairie Style is horizontal with low, flat rooflines, wide eaves that overhang way past the walls, and windows in long, continuous bands. The whole idea was that a building should look like it belongs to the Midwestern landscape.

The best example in Chicago is the Robie House at 5757 South Woodlawn Avenue in Hyde Park, finished in 1910. The main floor sits off the ground on a raised base, with the roofline extending past the walls in every direction, and the whole structure running parallel to the street rather than facing it head-on. It’s genuinely unlike anything else built at the time.

If you’re interested, they run 90-minute tours. Wright’s early residential work is easier to understand in person than in photographs, so if you’re a history or architecture fan, it’s a good place to check out. More information can be found here.

Art Deco: Chicago’s Most Photographed Era

By Joe+Jeanette Archie – 1952-CM02019, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=52779263

By the 1920’s, the city was growing fast, and money was flowing. That produced some of the most recognizable buildings in downtown Chicago.

The Tribune Tower at 435 North Michigan Avenue was finished in 1925. The Chicago Tribune ran an international design competition in 1922, and the winning entry from architects John Mead Howells and Raymond Hood was a Gothic tower with Art Deco bones. The end result looked like a cathedral that someone decided to turn into an office building.

If you’ve walked past the Tribune Tower, here’s something you might not have known. Embedded in the base of the tower, there are fragments from more than 120 famous buildings around the world. Pieces of the Parthenon, the Great Wall, Westminster Abbey, the Taj Mahal, the Alamo, the Berlin Wall, and Notre Dame are just a few. They’re all mortared directly into the lower exterior walls. Colonel Robert McCormick, who ran the Tribune, asked correspondents around the world to ship him rocks, and they did. If you walk along the base slowly, you’ll find the plaques.

The Chicago Board of Trade at 141 West Jackson, finished in 1930, is the other Art Deco landmark worth knowing. At the very tops sits a  45-foot aluminum statue of Ceres, the Roman goddess of grain. She has no face, because the architects figured nobody would ever be high enough to see her features clearly. At the time, no building in the city was taller than the Board of Trade.

Mies van der Rohe: Less Is More, And He Meant It

By Marc Rochkind – Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=57520545

Ludwig Mies van der Rohe fled Nazi Germany in 1938 and settled in Chicago, where he became the director of the architecture program at the Illinois Institute of Technology. His influence on Chicago, and on modern architecture globally, is hard to overstate.

Mies believed in reduction. That meant stripping everything down to structure and letting the steel and glass be visible. Don’t fake material or add decoration that doesn’t serve a purpose.

His 860-880 Lake Shore Drive apartments, finished in 1951, are twin glass-and-steel towers on the lakefront. They look simple, but they’re actually meticulously precise. He added thin decorative I-beams to the exterior, not for structure, but to reinforce the vertical rhythm of the facade. He felt the glass-only version was too flat.

Walk past those towers, and you immediately get why every glass office building you’ve ever seen in any city looks the way it does. All of it comes from this.

The Corncobs, The X-Bracing, And The Race For The Sky

By DGriebeling – Chicago 169, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=128609914

The 1960s and 70s brought a different kind of ambition to Chicago’s skyline.

Marina City at 300 North State Street was completed in 1964. Architect Bertrand Goldberg designed two circular concrete towers that look exactly like corncobs. That’s what everyone calls them. His idea was a city inside a city: apartments, offices, a marina, a theater, a bowling alley, all stacked into one structure. The wedge-shaped units radiate out from a circular concrete core, which is why the balconies create that unmistakable scalloped pattern. The parking garage in the base has become one of the most photographed spots in Chicago.

The John Hancock Center at 875 North Michigan Avenue went up in 1969 at 100 stories. The most distinctive feature is the X-bracing on the exterior – enormous steel crosses running up all four sides of the building. It’s structural engineering made visible that looks decorative. The X-braces resist lateral wind loads, which at that height are significant, and doing it on the outside of the building freed up the interior floors for more usable space.

Then came Willis Tower, which most of us still call the Sears Tower. Finished in 1973 at 110 stories and 1,451 feet, it was the tallest building in the world for 25 years. Its engineers used a bundled tube system, nine square tubes of different heights sharing the structural loads. Standing at the base and looking up is an experience that photos just can’t capture.

Jeanne Gang And The Aqua Tower

By JohnPickenPhoto from Chicago, USA – Aqua building, Chicago, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=129115726

Chicago didn’t stop innovating. The Aqua Tower at 225 North Columbus Drive, finished in 2009, is proof of that.

Architect Jeanne Gang designed it with concrete balconies that extend different distances on every single floor. No two floors are the same shape. The shape was driven by function: the irregular balconies create shade for the floors below, reduce wind load on the building, and improve views by angling residents’ sightlines past the neighboring towers. The building looks like it’s moving when you move past it.

She won a MacArthur Fellowship (the “Genius Grant”) for it in 2011. At 82 stories, Aqua is one of the tallest buildings ever designed by a woman.

The Best Way To See All Of It

The Chicago Architecture Center runs boat tours on the river that cover most of what we’ve written about here, in about 90 minutes. Departures are from the Michigan Avenue Bridge. It is one of the best tours in the city – we truly believe that. The guides are knowledgeable and the river gives you angles on these buildings that you simply can’t get from the street.

If you’d rather walk, the Loop is the most concentrated stretch of architectural history in the country. Give yourself 2 hours and walk. You don’t need a specific destination, just look up and take in the skyline.

If You’re Thinking About Living Here

So there you have it, a couple hundred years of architecture, from the ashes of 1871 to Jeanne Gang’s undulating concrete. We hope this article has inspired you to learn more about Chicago’s history!

And if you’re thinking about a move to Chicago or looking to buy, give us a shout, and we’ll help you figure out where in this city fits you best.

Stay curious out there, and see you next week!

The post Chicago’s Most Iconic Architecture Styles appeared first on Ben Lalez.

Over the past few weeks, there’s been growing news about how Zillow may handle Chicago listings in the future, and it’s raised questions for people who rely on it to search for homes. Today we want to share some insights into what’s happening and what you need to know moving forward.

By the way, we’re the Ben Lalez Team, a Chicago based real estate team that works with buyers and sellers across the city every day. Part of our job is keeping a close eye on changes that affect how people search for homes, especially when those changes create confusion or mixed information online.

Right now, there’s a real industry issue involving Zillow that could affect how Chicago listings appear on their website. So today we wanted to cover what’s happening, what could potentially change, and how to make sure you’re not missing anything if browsing for listings is important to you.

What’s happening with Zillow in Chicago?

Zillow works by relying on agreements with local MLS systems and brokerages to display listings on their website. In Chicago, there is an ongoing dispute between Zillow and the local MLS over listing access and data standards.

This has been reported by multiple real estate industry outlets. We’re still some time away from a final resolution, but the disagreement has raised the possibility that Zillow could lose automatic access to Chicago MLS listings if the situation isn’t resolved.

As of today, that hasn’t happened yet.

What this means right now

Right now, Zillow is still working in Chicago, so nothing looks out of the ordinary if you’re browsing their website.

The concern is about what happens if this dispute leads to a cutoff or restructuring of how listing data is shared. If that happens, Zillow could show fewer listings, delayed updates, or no listings at all.

If Zillow no longer receives MLS data directly in Chicago, listings would only appear there if individual brokerages provide their own feeds. This would mean that real estate companies would have to give Zillow permission to display their listings, and you would only see listings that chose to cooperate with Zillow.

In other words, you won’t see everything available on MLS.

Of course, it’s also possible that the issue is resolved and nothing changes for consumers. Both outcomes are still possible, and there’s no confirmed timeline either way.

If Zillow stops showing a complete picture of Chicago listings, you still have alternatives. There are other consumer platforms that may continue to show more complete results depending on how they source data, including Homes.com, Realtor.com, and Compass.

Your best option right now

If you want to know what is actually available in Chicago, working directly with a local agent is the only way to remove the guesswork and be sure all listings are available to you.

As the Ben Lalez Team, we have full MLS access. That means every active listing in the city, updated in real time, not filtered, delayed, or dependent on third-party agreements. We can set you up with a search that shows everything as soon as it hits the market.

This doesn’t mean you have to stop browsing on your own. We know most people enjoy looking at listings online (we do too). But if Zillow or any other site starts showing partial information, relying solely on public platforms puts you at a disadvantage.

If you’re doing research or you’re seriously hunting for a property today, you can’t afford to overlook listings because you can’t see them.

What is the Ben Lalez Team doing?

We want you to know that we’re paying attention to this because it affects how buyers move forward. Our job is to make sure our clients aren’t relying on incomplete information or guessing whether they’re seeing the full market.

If you want us to set you up with a full search, or if you just want to confirm whether what you’re seeing online reflects everything that’s actually available right now, reach out to the Ben Lalez Team anytime. There’s no obligation. It’s simply the most straightforward way to stay informed while this situation plays out.

We’ll update this page if anything changes. Until then, the takeaway is simple: Zillow still works today, but how listings are shared in Chicago may change.

If your timeline is sometime in the near future, you’ll need to prepare for potential changes coming soon.

The post Will Zillow Still Work In Chicago appeared first on Ben Lalez.

Last year, we wrote an article on the top 10 suburbs in Chicago, and this year we’re back with our updated list for 2026. Have things changed on the list?

In case this is the first time you’re reading one of our articles, we’re the Ben Lalez Team, and we’ve helped over a thousand families find homes in and around Chicago over the past decade. Every year around this time, our team looks ahead to see where buyers should be looking.

The biggest change from a year ago is mortgage rates. The 30-year fixed was around 6.76% at the start of 2025. By late February 2026, it was at 5.98%. On a $450,000 home with 20% down, that works out to roughly $170-$200 less per month.

Without further delay, let’s get into the list!

1. Naperville

Naperville is the largest suburb on this list, with a population of around 150,000. The downtown has restaurants, shops, and the Riverwalk, which runs about 1.75 miles along the DuPage River through the center of town.

Median prices are around $600,000, essentially flat from last year. There are typically 270+ homes on the market at any given time, with roughly 60-65 new listings coming in per month. Homes are averaging about 71 days on market.

ACS data puts the average monthly owner costs with a mortgage in Naperville at around $3,150 (this includes taxes and insurance). If you’re thinking about Naperville, make sure to run the math before you set your price ceiling.

Districts 203 and 204 are among the best school districts in Illinois. We’ve previously written about the best school districts in Chicago. District 203 covers most of central and north Naperville and feeds into Naperville Central. District 204 covers the south and west portions and feeds into Naperville North. Both are good, but they’re different attendance zones and different neighborhoods, so know which one you’re buying into.

The BNSF Metra line has two Naperville stations: Naperville and Route 59, with both running into Union Station. Express trips take about 35-45 minutes, depending on your stop and time of day.

2. Downers Grove

The Tivoli Theater has been running since 1928. You’ll find Saturday morning farmers market running from spring through fall. There are restaurants with outdoor seating in warm weather, and it’s a small-city downtown feel built around the Metra station. There are two BNSF stations here (Main Street and Fairview Avenue), and express trains to Chicago take about 30 minutes.

Median prices in Downers Grove are around $580,000, with homes selling in about 59 days, faster than last year. Current home inventory runs 90-100 active listings with around 30 new listings coming on per month.

District 58 covers K-8, and District 99 covers the high schools (Downers Grove North and Downers Grove South), with both having solid programs. Downers Grove also sits at the intersection of I-88 and I-355, which is convenient if your commute is by car to the East-West corporate corridor rather than by train into the city.

3. Oak Park

Oak Park is directly west of Chicago’s Austin neighborhood, about 10 miles from the Loop. The Metra UP-W has two stations here, Oak Park and Ridgeland, with trips to Ogilvie running 16 to 23 minutes. The CTA Green and Blue lines are also there. Just note that parking at the L stops is pretty limited.

Frank Lloyd Wright’s home and studio are here, along with about 25 homes he designed within walking distance. Marion Street and Lake Street downtown have restaurants, coffee shops, and independent retail. There are Thursday farmers market, summer arts festivals, and a fairly active community event calendar throughout the year.

Median prices are around $380,000. Homes are selling in about 52 days. Inventory typically runs 50-55 active listings.

4. Evanston

Evanston sits on the lakefront directly north of Chicago. Northwestern University has been here since 1855. There are beaches, parks, a real downtown, and a food scene that covers everything from casual to special-occasion.

The Metra UP-N line runs from Davis Street station to Ogilvie in about 26 minutes. The CTA Purple Line is also there with stops throughout the city.

Median prices are around $476,000, up about 6% from last year. About 85 active listings at any given time, with roughly 33 new listings per month. Homes are currently selling in about 56 days.

Evanston’s housing mix is fairly wide. Lakefront blocks have historic single-family homes, and downtown you’ll see condos above restaurants. There are quiet residential streets and dense apartment corridors. The experience varies significantly by neighborhood, so it’s worth exploring a few different areas before you narrow down a price range.

5. Arlington Heights

Median prices in Arlington Heights are around $495,000, down slightly from last year. Homes are selling in about 51 days, which is down from 72 days last year, and inventory stands at 62 active listings with 26 new listings per month.

The downtown around the Metra station has been adding restaurants and activity over the past several years. The old Arlington Park racecourse site is in active redevelopment. The village approved a mixed-use plan that includes housing, retail, and public space. That project will take years to build out, but it’s approved and in motion.

The UP-NW Metra line serves Arlington Heights, with travel time to Ogilvie running about 45-55 minutes.

District 214 serves the high schools in this area, including Buffalo Grove HS, Rolling Meadows HS, and Hersey HS, which is consistently among the top-performing districts in Illinois. Median household income in Arlington Heights is around $116,700. The park system here is extensive, with over 50 parks and facilities.

6. Buffalo Grove

FBI data shows 9 reported violent crimes in Buffalo Grove in 2024. That’s the total count, not a rate. It’s one of the lowest figures in the entire Chicago metro area.

Median prices are around $425,000, up significantly from last year. Inventory is thin, with about 34 active listings and 16 new listings per month. When well-priced homes come on the market, they tend to move quickly. For the rest of home in this area, they’re averaging about 65 days on market.

Buffalo Grove has a notably diverse population, with a large South Asian and Eastern European community that has grown here over the past few decades. That shows up in the restaurants, school programs, and community events.

Parts of Buffalo Grove feed into Stevenson High School in Lincolnshire, which consistently ranks among the top public high schools in Illinois. The rest of the village belongs to  Buffalo Grove High School. The median household income here is around $129,400.

Transit is the NCS Metra line, North Central Service, with two stations in town. Travel time to Union Station runs about 58 minutes. The NCS runs less frequently than the BNSF or UP lines, so check the full schedule to get an idea of your commute times.

7. La Grange

La Grange has two BNSF stations, LaGrange Road and Stone Avenue, with scheduled travel times to Union Station in the 20-30 minute range. A lot of homes in La Grange are within a short walk of the downtown and the train.

What’s it like living here? The Pet Parade has been running annually since 1946. You’ll find summer arts festivals, holiday events, independent shops and restaurants around the train station. It’s a small town that’s stayed a small town despite being 15 miles from the Loop.

Looking at pricing, the January data in La Grange was distorted this year. There wasn’t a lot of inventory, and that means a handful of transactions can skew a single month’s median in either direction. ACS data puts median owner-occupied home values around $594,300, which is more in line with what actually trades in the village. La Grange is considered a premium market.

Inventory is low right now, with around 22 active listings and 11 new listings per month. LTHS holds a Commendable designation on the Illinois School Report Card. The median household income in La Grange is around $159,900, the highest on this list.

8. Park Ridge

Park Ridge sits on Chicago’s northwest border. The Metra UP-NW line runs from Park Ridge station to Ogilvie in about 32 minutes, and O’Hare Airport is about 5 miles away.

The downtown area is called Uptown. Park Ridge is made up of local restaurants, shops, and well-maintained residential streets that are mostly single-family homes, a mix of older construction and renovated properties.

Median prices are around $577,000, up modestly from last year. We’ve seen some movement in this area, with homes selling in about 32 days right now, down from 62 days last year. Current inventory is around 48 active listings with 18 new listings per month.

9. Orland Park

Orland Park is a southwest suburb, about 25 miles from the Loop. Getting into downtown Chicago by car takes 45 minutes to over an hour, depending on traffic and time of day. The Metra Rock Island and SWS lines serve parts of the area.

Median prices are around $372,500, up about 6% from last year, and homes are selling in about 53 days. There are about 117 active listings at the moment, more than any suburb on this list (except Naperville), with roughly 27 new listings per month.

Carl Sandburg High School is in Orland Park and regularly ranks among Illinois’ top public high schools. The village has over 60 parks and miles of bike trails. The median household income in Orland Park is around $98,900.

10. Wheaton

Wheaton is in DuPage County, about 25 miles west of the Loop. The UP-W Metra line runs from Wheaton Station to Ogilvie in about 53 minutes.

Downtown Wheaton has coffee shops, restaurants, and the French Market on Saturdays. The Illinois Prairie Path runs through the area: it’s a converted rail corridor with miles of paved trails connecting across DuPage County. You can cover a lot of ground without crossing a major road.

Median prices are around $410,000, up about 21% from last year, though some of that reflects month-to-month variation. Homes are selling in about 59 days, and the current inventory is around 46 active listings.

The median household income is around $120,000. Community Unit School District 200 covers pre-K through 12 and includes Wheaton North and Wheaton Warrenville South high schools, both well-regarded.

There You Go!

So there you have it, our take on the top 10 Chicago suburbs for buyers heading into 2026.

Each one made this list for different reasons, and if you’re seriously considering which one is the right fit for you, you’ll have to think about what you’re prioritizing: commute time, budget, schools, walkability, and space. We spend a lot of time in these neighborhoods, and we’re happy to talk through any of this in more detail.

Please note that the data we’ve provided in this article is a reflection of the market at the time of writing this article. If you want updated data on any of these areas, let us know and we’ll be happy to provide you with detailed reports. Give us a shout anytime. 

And if you’re buying for the first time, don’t forget to grab our Chicago Home Buying Guide. It covers everything from making an offer to what happens at the closing table!

Until then, see you next week for our next article.

The post Top 10 Chicago Suburbs For Buyers In 2026 appeared first on Ben Lalez.

We’re the Ben Lalez Team, and after helping over a thousand families find their perfect Chicago homes over the last decade, we’ve heard everything there is to know about the Windy City.

Today, we’re sharing an honest look at what makes Chicago an amazing place to call home, and what might make you think twice. There won’t be any sugar-coating here. Just real talk from locals who know this city inside and out.

Let’s get into our top 5 reasons to make the move, and the top 5 reasons why you might want to reconsider.

5 Reasons To Move To Chicago

1. A Neighborhood For Every Personality

Chicago isn’t just one city. It’s more fondly known for it’s 77 neighborhoods, and each one has its own character and community vibe. 

For example, in River North you can feel the hustle and bustle, and in Lincoln Park you’ll enjoy the tree-lined streets. If you have an artistic spirit, give Wicker Park a visit. And if you’re a lakefront type of person, then Lakeview is the spot you want to check out.

Each neighborhood gives you a different experience, which means that with a little bit of research and exploration, you can find exactly what fits your lifestyle. We promise there’s a perfect Chicago neighborhood waiting for you.

2. World-Class Culture But Still Affordable

Chicago is a cultural powerhouse. You’ll find renowned museums like the Art Institute and Field Museum and an incredible theater scene. If you’re a music lover, there are music venues that host everything from jazz and blues to all of your favorite concerts.

Are you a foodie? Because you’ll find a world-class food scene in the city, from small and intimate diners to Michelin-starred restaurants. And if you love outdoor events, Chicago is a city of festivals. There are charming neighborhood street fests, and massive events like Lollapalooza and the Chicago Jazz Festival. Whichever types of festivals you like attending, Chicago has them all.

The best part is that you can enjoy all this at a fraction of the cost of New York or Los Angeles.

3. Real Estate Prices That Give You More For Your Dollar

When it comes to housing affordability, your budget stretches much further in Chicago than in other major cities around the U.S.

The average median home price in Chicago is around $355,000. Compare that to nearly $750,000 in Boston and over $970,000 in Los Angeles, and you’ll get a better sense of just how affordable Chicago can be. This means with the same budget, you can get more space, better finishes, and maybe even that yard you’ve been dreaming about.

The real estate market in Chicago is also incredibly diverse, offering all kinds of property types. From historic bungalows and classic greystones to modern condos and converted lofts, there are plenty of fantastic options for everyone.

4. Getting Around Is Convenient

One of Chicago’s best features is its public transportation system. The “L” trains and vast bus network make it easy to get around the city without owning a car.

The city’s grid system makes the system easy to figure out, and most neighborhoods are highly walkable. During the warmer months, the lakefront trail and growing network of bike lanes make cycling a great option too.

If you’re planning a weekend road trip, Chicago is close to lots of nearby towns. You have access to beautiful state parks and even neighboring big cities that are all within a few hours’ drive. You won’t have to drive further than a couple of hours if you want to explore more of what the Midwest has to offer.

5. Four Seasons Of Fun

Yes, Chicago winters are famous (more on that later), but having four distinct seasons means four climates where you can enjoy different activities.

In the summer, you can enjoy 26 miles of lakefront, outdoor dining, and parks filled with free concerts and movies. In the fall, you’ll get gorgeous autumn colors and crisp sweater weather to take some of your best Instagram photos. Winter has its own charm with ice skating and holiday markets. And of course, spring is when we all celebrate that winter has finally passed!

5 Reasons To Think Twice About Moving To Chicago

1. Winter Is A Big Drag

We need to talk about winter. Chicago’s winters aren’t just cold. They’re an entire lifestyle adjustment.

December through March means you’ll be dealing with freezing temperatures and lakefront winds that cut right through your bones. It takes a special kind of mental toughness to handle the wind chill when it hits negative numbers.

Daily life gets more inconvenient in the winter. You’ll have to deal with warming up your car, snow-covered sidewalks, and the infamous “dibs” system for parking spaces. Want to learn more about what dibs are, along with other surprising facts about life in Chicago for first-timers? 

Winter is not for everyone, but it’s manageable. If you’re a person who deals with seasonal depression, winter in Chicago can seem like it drags on forever.

2. Higher Property Taxes

One thing that surprises a lot of people is that Chicago’s property taxes are significantly higher than the national average.

In Cook County, the effective tax rate is about 2% of your home’s value. That means on a $300,000 home, you’d be paying roughly $6,000 a year in property taxes. That’s essentially double the national average and much higher than what you’d pay in many other cities. We’ve written before about how to calculate your Chicago property taxes, so make sure to check out that article.

The property tax system in Chicago can be complicated, with various exemptions that can help save you some money if you know how to find them and use them. And because reassessments happen every three years, your tax bill can change significantly over time. 

3. Big City Problems

Like any major city, Chicago has its big city challenges. Traffic can be pretty terrible during rush hours. Finding parking in popular neighborhoods might have you questioning your life choices. Commuting in a car can definitely test your patience.

You’ll find crime in some areas, but it varies depending on the neighborhood. We’re a big city, so some parts feel completely different from others when it comes to safety and city services.

Dealing with the city can be frustrating sometimes too. Getting permits for home improvements and dealing with Chicago-specific regulations will take time and preparation.

4. The Cost Of City Living Adds Up

Although Chicago is more affordable than other coastal cities, it’s still pricier than many other cities in the Midwest. Aside from housing costs, there are other expenses to consider.

Chicago’s sales tax is among the highest in the country at 10.25%. You’ll also find car insurance rates much higher than the national average.

If you’re buying a condo, you’ll have to pay HOA fees and that adds to your monthly housing costs.

And if you own a car, city stickers, parking permits, and occasional parking tickets is something you’ll have to deal with regularly.

5. It Takes Time To Really Feel At Home In Chicago

Feeling like a true Chicagoan will take you some time. The city has its own way of doing things and its own language. For example, we never call it the subway, we call it “The L.”

If you’re trying to meet people and build up a circle of friends, it can be tough, especially if you’re moving from a smaller community. Chicago neighborhoods can sometimes feel like separate towns with their own community cultures and vibes. This is just normal in big city life.

This also means that it takes time to really get to know your way around and find your favorite spots. And figuring out which neighborhood truly fits your lifestyle might involve some trial and error, but you’ll have fun exploring.

The Bottom Line

Chicago really has a lot to offer. 

While it might not be for everyone, the city offers both big-city amenities and Midwestern friendliness with its own character. It is something that will definitely grow on you.

We recommend coming in with realistic expectations. Understand the challenges, but also look for the amazing opportunities that come with living in Chicago. 

Try talking to people who live here. And if possible, visit Chicago at different times of the year and explore all the different neighborhoods before making your decision.

Whether you decide Chicago is right for you or not, we’re always happy to grab a coffee with you and share our insights. Contact us if you’d like to learn more about specific neighborhoods, or what it’s really like to live here.

The best decisions are informed ones, and we’re here to help you figure out if Chicago should be your next home!

The post 10 Reasons You Should (Or Shouldn’t) Move to Chicago appeared first on Ben Lalez.

Everyone feels overwhelmed by the financial commitment because it’s a lot of money to spend on one thing. Plus, there’s the question of whether to stay in the city or explore the surrounding suburbs.

But don’t worry, the Ben Lalez Team has your back! We’ve helped over a thousand families move homes over the last decade, so we’re very passionate about real estate in Chicago and its suburbs.

So which suburbs should you consider in 2025? Here’s our honest take on the top 10 suburbs that offer good value, great communities, and that special something that makes a place feel like home.

1. Naperville

Naperville keeps showing up on “best places to live” lists for good reason. The Riverwalk is gorgeous and gives the downtown a unique feel you just don’t find in most suburbs.

The community here is strong. You’ll notice it right away when you visit the local restaurants, shops, and summer festivals. Everywhere feels buzzing with activity, but not in an overwhelming way.

While we could talk about the excellent schools (Districts 203 and 204 rank among Illinois’ best) or the convenient Metra BNSF line, what our clients actually fall in love with is the lifestyle. You get plenty of space and safety while still having tons to do on weekends without driving into the city.

Homes here do sell for more than some other suburbs (median price around $523,000), and the average days on market is 44 days. This tells us buyers recognize the value despite the higher price point.

2. Downers Grove

Downtown Downers Grove just clicks with people. The historic Tivoli Theater still shows movies. Local restaurants have patios filled with people enjoying dinner on summer evenings. The farmers market brings everyone out on weekend mornings.

The community here is super friendly. Neighbors actually talk to each other. Block parties happen regularly. Kids ride bikes between houses. It’s that neighborhood feel that many people miss from their own childhoods.

For commuters, Downers Grove sits on the BNSF Metra line with express trains reaching Chicago in about 30 minutes. But honestly, many residents find themselves heading into the city less often than they expected because there’s so much to enjoy locally.

Homes here sell for around $469,000 median price, and they typically stay on market for just over 50 days. This gives buyers some breathing room to make decisions without the crazy competition of hotter markets.

3. Oak Park

Oak Park is special. There’s just no other way to put it. Sitting right next to Chicago’s west side, it feels like a small town with big city access.

Architecture buffs love Oak Park for Frank Lloyd Wright’s influence. His studio is here, along with many homes he designed. But there’s so much more to the community than just great buildings.

The streets are packed with small businesses that have real character. Bookstores where the owners recommend their favorite reads. Coffee shops where they remember your order. Restaurants where the chef might stop by your table. It feels personal in a way many places don’t anymore.

Events happen year-round. Art festivals take over the streets in summer. Farmers markets run weekly. Holiday festivals bring everyone out in winter. There’s always something happening that brings the community together.

Transit couldn’t be easier. Both CTA and Metra serve Oak Park, putting downtown just 20 minutes away. Many people walk to stations since the community is very walkable.

Homes here sell for about $430,000 median price, which gets you way more space and character than the same money in Chicago. For the location and community, it’s a pretty good deal.

4. Evanston

Evanston is Chicago’s cool northern neighbor. With Northwestern University anchoring the community, it has energy you don’t find in most suburbs.

The food scene here is amazing. From cheap eats to special occasion restaurants, Evanston has it all. The lakefront adds another dimension with beaches and parks that make summer weekends feel like vacation.

What’s cool about Evanston is how different areas have different vibes. The lakefront has historic mansions. Downtown has modern condos. There are quiet tree-lined streets with single-family homes and bustling areas with apartments above shops. You can find your fit here.

Getting downtown is simple with both CTA and Metra options taking about 25 minutes. But many Evanston residents find they don’t head to Chicago as often as they thought they would. There’s just too much good stuff happening locally.

The housing market is steady with median prices around $431,000 and homes typically selling in about 38 days. This shows strong demand without the pressure-cooker feel of some markets.

5. Arlington Heights

Arlington Heights has really come into its own in recent years. The downtown area around the Metra station has transformed from sleepy to exciting.

The restaurant scene keeps growing with everything from casual spots to nice date-night options. The entertainment options include live music venues and summer festivals. The village puts real effort into creating community events that bring people together.

Everyone’s talking about what’s happening with the old Arlington Park racecourse property. The massive redevelopment will bring even more options to the area in coming years. The village is forward-thinking about how to grow while keeping its character.

Schools are excellent (District 214 consistently ranks among Illinois’ best), but most families we work with are equally excited about the park system and recreation opportunities. There’s a good balance of organized activities and natural spaces.

Homes in Arlington Heights sell for a median price of about $500,000, typically moving in around 48 days. This price point gets you significantly more space than in Chicago while staying in a community with plenty going on.

6. Buffalo Grove

Buffalo Grove is where your dollar stretches further. The homes are generally newer than in some other suburbs, often with more modern layouts and features that today’s buyers want.

What makes this community stand out is its diversity. Buffalo Grove welcomes everyone, creating a rich community where different cultures and traditions are celebrated. This shows up in local restaurants, community events, and the overall welcoming vibe.

While there’s no traditional downtown, Buffalo Grove makes up for it with amazing parks and recreation facilities. The Buffalo Grove Park District runs top-notch programs for all ages. The extensive bike paths and green spaces make outdoor living easy.

Schools perform well above state averages. Parts of Buffalo Grove feed into Stevenson High School, one of Illinois’ best, while Buffalo Grove High School itself has strong programs and outcomes.

Here’s the best part – the median home price is about $360,000, making Buffalo Grove one of the most affordable options on our list. Homes typically sell in just over two months, giving buyers more time to consider options than in some faster markets.

7. La Grange

La Grange feels like small-town America dropped right into the Chicago suburbs. The downtown area has that Main Street charm that’s hard to find these days.

Local shops line the streets around the Metra station. The historic Tivoli Theater still draws crowds. Restaurants have sidewalk seating in warm weather. Ice cream shops have lines out the door on summer evenings. It just feels right.

The community really comes together for events like the Pet Parade, summer arts festivals, and holiday celebrations. These aren’t just things on a calendar – they’re traditions that families look forward to year after year.

Many homes are within walking distance of downtown, which creates a true neighborhood feel. Kids can bike to get ice cream. Parents can walk to dinner. It’s the kind of lifestyle that makes suburban living appealing.

La Grange homes sell for a median price of about $440,000, typically moving in around 6 weeks. This strong demand shows how much people value the community La Grange has created.

8. Park Ridge

Park Ridge sits right at Chicago’s northwestern edge, giving you that suburban feel with city convenience. This is Hillary Clinton’s hometown, and it still has that classic American neighborhood vibe.

The downtown area (they call it “Uptown”) has been beautifully developed with local restaurants, shops, and the iconic Pickwick Theatre. On nice evenings, it feels like the whole town is out enjoying the area.

The neighborhoods here are gorgeous. Tree-lined streets feature a mix of historic homes and newer construction, all impeccably maintained. People take real pride in their properties and it shows when you drive around.

Location is a huge selling point. Park Ridge borders Chicago, and the Metra UP-NW line gets you downtown in about 30 minutes. O’Hare is nearby too, which is perfect for frequent travelers or those working at the airport.

Homes in Park Ridge sell for a median price of about $530,000, typically moving in under two months. This price reflects the premium location and quality of life, but it’s still reasonable compared to some North Shore communities.

9. Orland Park

Orland Park gives you room to breathe. This southwest suburb offers larger lots, bigger homes, and more space than you’ll find closer to the city.

The lifestyle here is comfortable. Streets are wider, traffic is lighter, and parking is plentiful. You don’t have to fight crowds to enjoy shopping at Orland Square Mall or dining at the many restaurants.

Outdoor spaces are a big plus. With over 60 parks, miles of bike trails, and beautiful forest preserves nearby, getting outside is easy. The village runs great recreation programs with activities for everyone from toddlers to seniors.

Schools perform well above state averages, with Carl Sandburg High School consistently ranking among Illinois’ best public high schools. This makes Orland Park popular with families looking for quality education.

The real highlight is affordability. The median home price in Orland Park is just $337,000, one of the lowest on our list. Homes take longer to sell here (almost 3 months on average), which means buyers can take their time and have more choices.

10. Wheaton

Wheaton might surprise you with its personality and charm.

Having Wheaton College in town makes a big difference. It brings cultural events, youthful energy, and a certain intellectual vibe to the community. The downtown area feels alive with students and locals mixing at coffee shops, restaurants, and the popular French Market on Saturdays.

One thing that stands out is the Illinois Prairie Path running through town. This converted rail line gives miles of paved trails for biking, running, or walking. You can go for hours without crossing a major road. It’s perfect for active families.

The community hosts events year-round that bring people together. Summer concerts, art festivals, holiday celebrations – there’s always something happening that makes it easy to meet neighbors and feel connected.

Housing prices are surprisingly reasonable given all Wheaton offers. The median price is about $360,000, which can get you anything from a starter condo to a spacious family home depending on your needs. This accessibility makes Wheaton great for first-time buyers and growing families alike.

Making Your Move

If you’re thinking about leaving the city for more space, you’re not alone. Every year, we help dozens of families find their perfect suburban match.

Each suburb on this list offers something different. What matters most is finding the place that fits your lifestyle, budget, and needs. Some people want a lively downtown, others prioritize outdoor space or schools or commute time.

The good news is that Chicago’s suburbs offer incredible variety and value compared to many other major metro areas. You can find your perfect fit without compromising what matters most to you.

Ready to explore these communities? Give us a shout and let’s explore which Chicago suburb might be right for you! And if you’re buying for the first time, make sure to download our Chicago Home Buying Guide.

The post Top 10 Chicago Suburbs For Homebuyers 2025 appeared first on Ben Lalez.

We’re the Ben Lalez Team, and after helping over a thousand families find their perfect Chicago homes over the last decade, we’ve noticed a growing interest in co-ops. They offer some advantages that many buyers overlook, so let’s check out what makes co-ops special and why they might be worth considering when you’re looking for your next home.

What Is A Co-op?

When you buy a regular condo, you own the property. But when you buy a co-op, you’re actually buying shares of the corporation that owns the entire building. Your shares then give you the exclusive right to live there and have voting rights when decisions need to be made about the building.

This ownership structure creates some interesting differences that can work in your favor, especially in certain Chicago neighborhoods.

The Financial Advantages You Might Not Know

If budget is important to you, the biggest advantage is that co-op apartments in Chicago are generally cheaper than condos. We’ve found that similar-sized co-ops can sell for 10-20% less than comparable condos in the same neighborhood. This means a lower entry price for you if you want to get into a specific neighborhood.

Co-ops also have different fee structures than condos. Monthly assessments in co-ops look more expensive on paper, and are usually higher than condo HOA fees, but this isn’t a simple comparison. 

This is because o-op fees usually include property taxes and sometimes portions of the building’s mortgage, while condo owners pay these separately. When you calculate the total cost of ownership, the numbers become more comparable.

When it comes to financing rates, co-op boards can often refinance the entire building’s mortgage at once, potentially securing better rates than individual buyers could get on their own.

Co-Op Community 

One thing we’ve noticed over the years is that co-op buildings often have stronger community bonds. In order to purchase a co-op, buyers typically have to go through a more rigorous approval process. This means that co-op buildings tend to have lower turnover, leading to longer-term neighbors who get to know each other.

Many co-ops have active social calendars with holiday parties, summer gatherings, and community events that create that old-school Chicago neighborhood feel, even if you’re living in a multi-unit building. If you’re looking for a strong community within a building, a co-op might be perfect for you.

The Screening Process

Co-ops are known for their thorough vetting process. This might seem intimidating, but think of it from another angle. It means all your neighbors have also gone through the same careful screening.

Unlike condo associations, co-op boards have the power to decide whether or not they approve a buyer. This means purchasers will typically require extensive financial information, personal references, and often an in-person interview before being approved.

This process generally results in more financially stable neighbors, fewer rental units, and more engaged owners who care about maintaining the building’s value and maintaining a strong community.

Chicago’s Most Notable Co-op Buildings

Chicago actually has some magnificent co-op buildings with fascinating histories. The famous 1500 N. Lake Shore Drive building, designed in the 1920s, is one of the city’s most prestigious addresses. Many of the historic co-op buildings were designed by renowned architects in styles that are no longer commonly found in modern condo designs.

What’s interesting is how these buildings survived different real estate cycles. During the 2008 housing crisis, many co-op buildings in Chicago maintained their values better than comparable condos. While condo foreclosures jumped during this period (increasing from 12% to 19% of all Chicago-area foreclosures between 2007 and 2008), co-ops saw far fewer distress sales, thanks to their stricter purchase requirements and financially stronger ownership base.

Tax Considerations For Co-op Owners

As a co-op shareholder, you can still deduct your portion of the building’s real estate taxes and mortgage interest on your personal tax return, similar to other homeowners.

What’s different is how property tax assessments work. In Chicago, older co-op buildings often benefit from lower property tax assessments compared to newer condos. Co-ops are assessed as a single property (like an apartment building), and this assessment can be relatively low compared to the building’s true market value.

This tax advantage can turn into meaningful savings over time, especially in a city where property tax increases have become a big concern for homeowners.

The Maintenance Advantage

One important benefit of co-op living is how maintenance is done. Many larger Chicago co-ops have full-time maintenance personnel, often including live-in superintendents or building engineers.

For example, the Gold Coast co-op at 1242 N. Lake Shore Drive has 24-hour door staff, elevator operators, and a live-in superintendent. This offers immediate attention to building maintenance issues and creates a level of service that’s hard to find in most condo buildings.

Co-op boards are usually more proactive when it comes to maintenance, focusing on preservation rather than dealing with problems when they pop up. This can mean fewer emergency repairs and more thoughtful long-term planning for major systems.

Understanding Co-op Governance

Unlike condo associations that operate under Illinois condominium law, co-ops are more like private corporations.

This gives co-op boards more flexibility in some ways, including:

• The ability to set more comprehensive house rules
• Greater control over who buys in the building
• More options for handling problem residents
• Flexibility in how they structure their financing

If you’re a buyer who values stability and careful management, this model can provide peace of mind that the building will maintain its quality and character over time.

Making The Co-op Buying Process Smooth

We want to be clear. Buying a co-op requires a different approach than purchasing a condo or single-family home. The timeline is typically longer, and this is why it’s important to work with realtors who understand the nuances of co-op transactions.

Having helped many clients through successful co-op purchases, we’ve developed relationships with co-op-friendly lenders, attorneys specializing in co-op transactions, and even board members at various buildings. This expertise can make the difference between a stressful experience and a smooth transition to your new home.

If co-op living sounds right for you, we recommend getting pre-qualified with a lender who regularly handles co-op financing before you even start looking at units. This gives you a clear picture of your budget and strengthens your position when applying for board approval.

Is A Co-op Right for You?

We’ve found that the right home type depends entirely on your specific situation and goals. Co-ops aren’t for everyone, but for the right buyer, they can offer exceptional value, character, and community.

If you’re curious about co-op buildings, give the Ben Lalez Team a shout! We know which buildings have the best reputations, reasonable financial requirements, and most desirable locations across the city.

After all, our job isn’t just about helping you buy a property. It’s about finding you the perfect home that fits your lifestyle, in a community you’ll love. And sometimes, that perfect match might be a co-op that most buyers never even consider!

The post The Advantages Of Buying A Co-op in Chicago appeared first on Ben Lalez.

We’re the Ben Lalez Team, and we’re here to tell you that the market isn’t just one single story. It’s multiple stories happening at the same time across all 77 unique neighborhoods in Chicago.

So let’s have a quick breakdown of what’s actually happening in Chicago right now. We’re not talking about national trends or clickbait headlines. Just real numbers that give you something to work with.

We’ll cover what’s happened over the past 12 months, so grab a cup of coffee and let’s dive in!

A Market Of Three Different Performers

Let’s first divide the market into three segments (for reference, this data is taken from Zillow’s housing data). We have the Top-Tier homes (homes values within the 65th to 95th percentile range), Bottom-Tier homes (5th to 35th Percentile range), and the Middle-Tier homes (35th to 65th percentile range).

Since 2000, all three markets have performed similarly, but with wider swings and different measures of volatility.

Historical data is useful to see where we’ve come over a long period of time, but what we want to do is look at what’s happened over the last 12 months to see the current state of the Chicago real estate market:

Here’s what the data shows:

• Bottom-Tier Homes:Up 4.14%
• Middle-Tier Homes: Up 2.81%
• Top-Tier Homes: Up 2.71%

What does this tell us?

The strongest demand is currently at the entry level. First-time homebuyers and investors are competing in the affordable segment and driving stronger price growth. Meanwhile, the luxury market is still growing, just at a reserved pace.

This pattern makes Chicago a little different from many other coastal markets where luxury properties are currently outpacing other segments. Here in our city, working-class neighborhoods and starter homes are showing the most momentum.

The Biggest Neighborhood Movers

When we look at the data a little more carefully, the results might surprise you. Some of Chicago’s historically overlooked areas are now seeing strong price movement. Here is the price movement when we compare prices from March 2025 to March 2024:

• Park Manor: Up 10.89%
• The Bush: Up 10.30%
• Avalon Park: Up 9.98%
• Fuller Park: Up 9.4%
• Englewood: Up 9.3%

What’s the pattern? The South and West Sides are leading the charge. After years of underinvestment, these areas are seeing renewed interest from both homebuyers and developers looking for value and potential.

The Biggest Neighborhood Losers

There are areas in Chicago that haven’t doing so well over the last year:

• Greektown: Down 12.67%
• Ford City: Down 6.55%
• Chinatown: Down 5.33%
• Near West Side: Down 4.47%
• South Loop: Down 4.11%

Why are these areas down? Many of these areas saw big jumps during the pandemic as buyers went after more space and amenities. What we see now isn’t so much a crash as a natural correction. The South Loop and Near West Side saw a lot of development over recent years, and supply may have temporarily outpaced demand.

These areas are still maintaining high values – they’re just taking a breather after some prolonged growth.

The Geographic Divide

An interesting pattern we’ve noticed is where specifically growth is happening. Traditionally, North Side neighborhoods demonstrated the highest values and strongest appreciation, but now we see the momentum shifting:

• South Side: Multiple neighborhoods showing 7-10% growth
• Southwest Side: Areas like Brighton Park (8.27%) and Marquette Park (8.80%) are doing well
• West Side: Neighborhoods like Little Village (9.62%) and South Austin (8.37%) are seeing strong gains

On the other hand, many North Side areas are seeing more measured growth:

• Lincoln Park: Up 4.58%
• Lake View: up 5.19%
• Wicker Park: Up 3.06%
• Logan Square: Up just 1.35%

Maybe this is signalling a rebalancing of Chicago’s real estate values across the city, with historically undervalued areas catching up with established neighborhoods?

What These Numbers Mean For Buyers

First-Time Home Buyer

You’re in the quickest moving segment right now, especially in areas like South and West Side neighborhoods. You might need to move quickly on some desirable listings, so be prepared.

Move-Up Buyers

The Middle-Tier segment gives you a bit more breathing room. With growth of 2.81%, these homes are appreciating at a healthy pace. You’ll have more negotiating power than entry-level buyers.

Luxury Buyers

With the luxury segment growing at 2.71%, you’ll likely have more negotiating leverage. Some high-end neighborhoods like Bucktown (-0.39%) and River North (-1.56%) are even seeing slight declines, which could create some opportunities for you.

What Else We’re Seeing On The Ground

It’s useful to look at statistics, but it’s also important to take in some more context:

• Mortgage rate sensitivity remains high: Even small rate movements can significantly impact buyer demand and affordability. With uncertainty on which direction the rates will go, we’re keeping our eye on this.
• Property condition matters more than ever: Today’s buyers are less willing to take on major renovation projects. Move-in ready homes are fetching premium prices.
• Neighborhood amenities drive decisions: Buyers want access to parks, quality schools, restaurants, and transit access.
• Generational shifts: Millennial and Gen Z buyers are prioritizing features different from those of their parents, with walkability, energy efficiency, and smart home features in demand more than ever.

A Complete Breakdown Of Price Movement In Every Chicago Neighborhood

Here’s the entire list of home value differences based on values from March 2025 compared to March 2024:

The Bottom Line

Chicago’s real estate market so far in 2025 is healthy but varied. Understanding which segment you’re looking at can help you develop realistic expectations.

Whether you’re buying or selling, the key is to grasp neighborhood-specific knowledge so you can make data-driven decisions. The days of one-size-fits-all advice are far behind us.

And that’s exactly why working with a team that understands Chicago at the neighborhood level makes all the difference. We’re deeply connected to what’s happening across the city, and after a decade of helping over a thousand families change homes, we’re always ready to help you.

Want to know what any of these data points mean for your specific situation? Get us to call you, and let’s chat about your real estate goals. No pressure – just insights and friendly advice from neighbors who know this city inside and out.

The post Chicago Real Estate Market Snapshot April 2025 appeared first on Ben Lalez.

We’re the Ben Lalez Team, a top Compass real estate team that has been actively selling real estate in Chicago for over a decade. In this article, we’ll walk you through the 2025 edition of the cost of living in Chicago. We’ll compare it to national averages, plus cities like Boston, New York, and Los Angeles (for all the west coast readers!).

Whether you’re planning to buy your first home, relocate from another city, or just curious about affordability in the Windy City, we’ve got you!

Housing Affordability

Let’s tackle the biggest expense of all – housing.

In 2025, the median home price in Chicago is around $355,000. That might come as a shock if you’re living in other major cities in America. That’s because this price is:

• 13% lower than the national median of $407,500
• Half the price of Boston at around $748,000
• A third of the price of Los Angeles at around $973,000
• Less than half of New York City at around $763,000

As a buyer moving to Chicago, you’ll find you can afford more space, better finishes, and even a yard! This is especially true if you’re willing to explore some of Chicago’s emerging neighborhoods that offer tremendous value.

What if you’re looking to rent?

The average one-bedroom is currently around $2,150, and a two-bedroom will set you back $2,630. Although rents in Chicago are higher than the national average, they’re well below New York City or Boston. A 1 bedroom in Manhattan could easily run you $3,500. With that kind of budget in Chicago, you could snag a two-bedroom in a trendy neighborhood with a parking spot.

But here’s what makes Chicago special.

The neighborhood diversity means you have housing options at every price point. Areas like Lake View, Lincoln Park, and West Loop typically fetch higher prices, but if you’re looking for affordability, you can check out Avondale, Rogers Park, and Pilsen.

Property Taxes

This is where Chicago loses some of its shine. Illinois has some of the highest property taxes in the country. In Cook County, where Chicago sits, the effect tax rate is about 2% of your home value. That means if you own a home worth $300,000, you’re paying around $6,000 roughly in property taxes per year.

That’s double the national average and much higher than you would pay in Boston or Los Angeles.

The good news is that there are exemptions available that can reduce your property tax bill:

• Homeowner Exemptions: reduces your EAV by up to $10,000
• Senior Citizen Homestead Exemption: For those eligible and above 65+
• Long-Time Homeowner Exemption: For qualifying long-term residents
• Home Improvement Exemption: Delays taxation on certain home improvements

Income Tax

Here’s where Chicago makes up for high property taxes. Chicago has no city income tax, and Illinois has a flat 4.95% state income tax (which is lower than what you would pay in New York or Los Angeles).

For comparison:

• New York City has city income tax rates up to 3.876% on top of state taxes
• California’s state income tax rates can reach 13.3% for high earners
• Massachusetts has a flat 5% state income tax

This tax structure makes Chicago attractive for high-income earners who would face much higher income taxes in coastal cities.

Utilities

Yes, the Chicago winters are legendary, but you’re not breaking the bank when it comes to utility costs.

Here’s the monthly breakdown for a typical Chicago household:

• Electricity: $100 – $300 (seasonal)
• Gas (heat): $100 (can reach $200 – $300 in winter))
• Water (metered): $60
• Internet: $60 – $100
• Cell phone: $55 – $90 per line

This is actually below the national average and way cheaper than cities like Boston (where electricity is 30 cents per kWh vs. Chicago at 16 cents) or Los Angeles (where gas and electricity costs are much higher).

By the way, many Chicago buildings include heat in the HOA fees or rent, which can be a significant cost-saver during winter. When house hunting, we always point this out to our clients as it can mean substantial monthly savings.

Transportation

Chicago is a commuter-friendly city if you plan on taking public transportation. Here are some of the average transportation costs:

• CTA Fare: $2.50
• Monthly CTA pass: $75
• Metra monthly pass: $116 – $245 (depending on distance)
• Gas prices: $3.30 – $3.40 per gallon
• Car insurance: $3,245 per year
• Monthly downtown parking: $220 per month
• Rideshare (average trip): $15 – $25

If you compare this to New York City (where insurance and parking are sky high) or Boston (limited parking and expensive gas), Chicago falls somewhere in the middle. However, car insurance is higher than the national average.

The city’s excellent public transportation means many Chicago residents choose to live without a car. This is especially true in highly walkable areas like The Loop, Lincoln Park, and Lakeview. This can save you thousands per year on parking, insurance, and maintenance.

Groceries, Healthcare, & Dining Out

Whether you’re enjoying some of Chicago’s famous dining spots or you’re dreaming of auditioning for Master Chef, here’s a quick peek at your day-to-day expenses:

• Groceries: About 4% above the national average
• Healthcare: About 7% above the national average
• Dining out: $100 per meal for two (mid-range restaurant)
• Fine dining: $200+ per meal for two
• Coffee: $4 – $5.50
• Sales tax: 10.25% (higher than Boston but not as high as New York City)

Overall, your groceries will be a bit on the expensive side, but you’re still paying less than you would in Boston or New York City on the same budget.

Chicago has access to excellent farmers markets and ethnic grocery stores, where prices can be substantially lower than those of major supermarkets. Areas like Albany Park, Pilsen, and Chinatown offer specialty ingredients at prices that might surprise you.

Childcare & Education

This is an important part of the family budget for every family. How does Chicago measure up?

• Infant daycare: $1,800 – $2,000 per month
• Preschool: $1,200 – $1,500 per month
• Nanny: $18 – $25 per hour
• After-school programs: $200 – $400 per month
• Private K-12: $5,000 – $40,000 per year
• Public schools: Free

While childcare costs are still better than in New York City or Boston, they’re still a significant chunk of the budget. Many families rely on family help, nannies, or shift work to make it work.

Chicago public schools vary widely by neighborhood, with some among the best in the state.

Quick Snapshot: Chicago vs Other Cities (2025)

Final Thoughts

After helping over a thousand families find their perfect Chicago home, we’ve seen firsthand how this city offers the perfect balance of big-city life and Midwestern affordability.

So, is Chicago still affordable? Absolutely, but like any financial decision, it comes down to your priorities.

The housing market offers tremendous value compared to some other big cities. You’ll get significantly more space for your dollar and access to a wide range of property types. Plus, Illinois’ flat income tax means you’re keeping more of your paycheck.

Yes, property taxes and winter heating bills can sting a bit, but these costs are offset by Chicago’s excellent public transportation and the city’s world-class dining and entertainment options.

In Chicago, you get breathtaking architecture, 26 miles of lakefront, 77 diverse neighborhoods, and one of America’s best food scenes, all at a lower price point than you’d pay in New York, Boston, or San Francisco.

For families, Chicago offers a range of education options, from top-rated public schools to private institutions. While childcare costs remain a challenge (as they do across America), the city’s family-friendly amenities and parks offer an excellent quality of life for you and your kids.

Ready to explore what Chicago has to offer? The Ben Lalez Team knows this city inside and out, from hidden gem neighborhoods to figuring out property tax exemptions to save you money. Reach out to us today, and let’s find your perfect Chicago home!

Sources:

www.illinoisrealtors.org/marketstats/
www.fox32chicago.com/news/chicago-housing-market-prices-rise
www.nar.realtor/newsroom/existing-home-sales-retreated-1-0-in-december
www.zillow.com/research/data/
www.zumper.com/blog/rental-price-data/
www.taxfoundation.org/data/property-taxes/effective-property-tax-rates/
www.chicago.gov/city/en/depts/fin/supp_info/revenue/tax_list.html
www.bls.gov/regions/midwest/data/consumerpriceindex_chicago_table.htm
www.bls.gov/regions/west/data/consumerpriceindex_losangeles_table.htm
www.bls.gov/regions/northeast/data/consumerpriceindex_boston_table.htm
www.numbeo.com/cost-of-living/
www.eia.gov/petroleum/gasdiesel/
www.nerdwallet.com/best/insurance/car-insurance-rates
www.spothero.com/blog/monthly-parking-rates/
www.whereipark.com/blog/
www.taxfoundation.org/data/all/state/sales-tax-rates/
www.payscale.com/cost-of-living-calculator/Illinois-Chicago
www.healthcostinstitute.org/
www.dhs.state.il.us/page.aspx?item=30355
www.axios.com/2023/08/28/child-care-costs-increase-2023

The post Chicago Cost Of Living Guide 2025 appeared first on Ben Lalez.

If you’re diving into the homebuying process for the first time, you’re probably finding that mortgage terminology can be a bit confusing, almost like learning a new language. 

One common topic for first-time homebuyers is the difference between borrower paid compensation and lender paid compensation. This updated guide for 2025 will help you understand everything you need to know.

Don’t worry – we’ve helped hundreds of first-time homebuyers through this process, so we’ll break everything down into plain English. Understanding the difference between the two could potentially save you thousands of dollars in your home purchase, so join the Ben Lalez team and let’s start learning!

What Are The Two Compensation Models?

When you work with a mortgage broker, they need to get paid somehow. There are two main ways that this happens.

Borrower Paid Compensation (BPC): Like it sounds, you (the borrower) pay the mortgage broker’s fee directly.

Lender Paid Compensation (LPC): The lender pays your mortgage broker’s commission, but (and this is important) this cost ultimately gets passed to you through a slightly higher interest rate on your mortgage.

The Important Differences Between Borrower Paid & Lender Paid

Borrow Paid Compensation

Here are the pros:

• Usually a lower interest rate over the life of your loan
• You know the fee upfront and it’s clearly disclosed on your loan estimate
• Potentially lower total loan over time, especially if you’ll keep the mortgage for many years
• More flexibility in negotiating the mortgage broker’s fee

Here are the cons:

• Increases your closing costs (you need more cash available)
• Can feel like another financial burden when you’re already scrambling to pay your downpayment and other closing costs

Lender Paid Compensation

Here are the pros:

• Less upfront closing costs (especially if you’re tight on cash)
• Simplifies your closing disclosure (the fee is built into your rate)
• May qualify for certain lender credits toward closing costs
• Could be tax-deductible as part of your mortgage interest (make sure to speak to your tax advisor about this one)

Here are the cons:

• A higher interest rate for the entire loan term
• You’ll pay more over the life of the loan (sometimes a lot more)
• Less transparent about exactly what you’re paying the broker
• Compensation rates are often fixed and less negotiable

Calculating The Difference

Let’s do a simple calculation to understand the math. We’ll pretend we’re getting a $300,000 loan in Chicago.

With Borrower Paid Compensation:

✓ Interest rate: 6.25%
✓ Broker fee: $3,000 paid at closing
✓ Monthly payments: $1,847
✓ Total paid over 30 years: $664,920

With Lender Paid Compensation:

✓ Interest Rate: 6.50% (0.25% higher to cover the broker fee)
✓ Broker fee: $0 at closing (but it’s still built into your loan)
✓ Monthly payments: $1,896 ($49 more per month)
✓ Total paid over 30 years: $682,560

You’d save $17,640 over the life of the loan with borrower paid compensation, but you’d need $3,000 more at closing.

Timelines Are An Important Criteria

One important question you must ask yourself is: How long do you plan to stay in the home or keep this mortgage?

If you’re planning to stay in your home less than 5 years or think you’ll refinance soon, lender paid compensation might make more sense because you’ll save on upfront costs and won’t pay the higher rate for the full 30 years.

If you’re buying your ‘forever home’ or plan to stay put for many years, borrower paid compensation could save you thousands over the life of the loan.

How To Speak With Your Mortgage Broker About Compensation

As a first-time homebuyer, you might be uncomfortable discussing fees, but it’s your right to understand exactly what you’re paying for. Here’s a quick guide to handling the conversation:

• Start early – Ask about compensation structures during your initial meeting
• Be direct but polite – Say something like “I’d like to understand both borrower paid and lender paid compensation. Can you tell me the differences for my specific situation?”
• Request written comparisons – “Could I see a side-by-side comparison of both options with the total costs over 5, 15, and 30 years?”
• Confirm all fees – “Aside from your compensation, are there any other fees I should know about with either option?”

A good mortgage broker won’t be defensive about these questions and will be happy to explain both options. If they seem reluctant to provide clear answers, that’s a red flag and you might want to look elsewhere.

Common Questions First-Time Homebuyers Ask

Can I negotiate the broker’s fee?

If you choose to go with borrower paid compensation, you can absolutely try to negotiate. Many brokers have flexibility in their fee structure, especially straightforward loans. With lender paid compensation, the rates are often fixed by agreements with the lenders.

Does this affect my qualifying amount for a mortgage?

With borrower paid compensation, the fee isn’t included in your debt-to-income calculations. With lender paid, the higher interest rate means higher monthly payments, which could affect how much you qualify for.

How do I know what the broker’s compensation actually is?

For borrower paid, it will be clearly listed on your loan estimate as an origination charge. For lender paid, you can ask directly. For example, “What percentage is your compensation, and how does this affect my interest rate?”

If I choose LPC, can I get a better rate by shopping around?

100%! Different brokers have different compensation agreements with lenders, so shop around to find a broker who takes a lower commission. Don’t forget, there are more factors than just compensation that are important when choosing a lender to work with.

Important Terms To Know

Yield Spread Premium (YSP): The payment lenders make to brokers for originating loans at higher-than-market interest rates. This is basically how lender-paid compensation works.

Origination Fee versus Discount Points: An origination fee is what you pay the lender for processing your loan (this is different than the broker compensation). Discount points are fees you pay to lower your interest rate.

Lender Credits: Money the lender provides toward closing costs in exchange for a higher interest rate. This is different from, but related to, lender paid compensation.

APR versus Interest Rate: Your interest rate is what you pay monthly, while Annual Percentage Rate (APR) includes your interest rate plus other loan costs, including origination fee. APR is useful for comparing loans with different fee structures.

Current Regulations You Should Know

Since the mortgage crisis, broker compensation has been heavily regulated, and requires the following:

• Mortgage brokers can’t be paid based on loan terms (other than the loan amount)
• Your loan estimate must clearly disclose all compensation
• Brokers can’t receive compensation from both you and the lender on the same transaction
• Compensation must be consistent across similar loan types

These protections ensure that brokers can’t steer you toward loans that make them more money and cost you more.

How To Calculate Your Own Break-Even Point

Here’s a simple way to figure out when borrower paid becomes better than lender paid:

Borrow Paid Fee ÷ Monthly Payment Difference = Break-Even in Months

Using our example:

• Borrower paid fee: $3,000
• Monthly payment difference: $49
• Break-even: $3,000 ÷ $49 = 61 months (about 5 years)

If you keep the loan longer than the break-even period, borrower paid compensation likely makes more sense. If your timeline is shorter, choosing lender paid compensation would be the way to go.

2024 versus 2025: What’s Changed?

The lending landscape has changed a bit between 2024 and 2025, and here’s what you need to know:

Transparency Requirements

• New federal regulations in 2025 have increased disclosure requirements for mortgage brokers
• This means you’ll get clearer information about compensation regardless of which option you choose

Chicago-Specific Considerations

• Some Chicago lenders have introduced special first-time buyer programs in 2025 that provide lender credits toward closing costs when using LPC
• There are a number of home buyer programs available to Chicago home buyers.

Hidden Advantages In Chicago’s Market

Buying in Chicago means you should keep these things in mind:

The Cook County Down Payment Assistance Pilot Program (introduced in 2024) provides up to $25,000 for eligible buyers, which can help cover your borrower paid compensation and still leave funds for other closing costs.

First-time homebuyers in certain Chicago neighborhoods have access to special mortgage programs with reduced fees, making borrow paid compensation for affordable

Several Chicago lenders offer hybrid compensation models in 2025 that share the compensation between borrower and lender, giving you a middle-ground option.

Final Thoughts

There’s no universal right choice between borrower paid and lender paid compensation. The best option really depends on your own circumstances.

What matters most is that you understand what you’re paying, how you’re paying it, and that you make an informed decision that’s best for your family’s situation.

Ready to take the next step in your home buying journey? We’d love to connect you with trusted mortgage professionals who can walk you through both options and help you make the choice that’s right for you!

Have questions? Don’t hesitate to reach out to the Ben Lalez Team. We’re here to make every part of the home buying process easier!

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