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Market notes

Insights

What we are watching in the numbers, from Cook County tax mechanics to the national capital markets.

Property taxesLocal · Aug 2, 2026 · 6 min

The 2026 reassessment is on the calendar. Most pro formas are not ready for it.

Every township serving Tinley Park is being revalued this year, and the last cycle raised the median south-suburban residential bill 19.9%. How we underwrite for a risk with a known date.

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Supply and occupancyLocal

Zero new units: the supply arithmetic behind Southwest Cook occupancy

The submarket delivered nothing in the first half of 2026 and has a construction pipeline of 0.22% of stock. That, not cheap rents, is the case for owning here.

Jul 28, 2026 · 5 min read

RentsLocal

There is no single Tinley Park rent number. There are four.

Yardi says $2,172 for a two-bedroom. The Census says $1,495 all-in. Both are right, because they measure different buildings. How to read rent data before you trust an underwriting.

Jul 24, 2026 · 6 min read

Macro

Chicago multifamily is outperforming the national tape, and the reason is uncomfortable for the Sun Belt

Third of thirty major markets on rent growth, occupancy a full point above the national average, deliveries at a fourteen-year low. The mid-2026 picture, with the Cook County caveat.

Jul 19, 2026 · 6 min read

InsuranceMacro

Apartment insurance is finally getting cheaper. Chicago never got expensive.

Commercial property rates have fallen for eight straight quarters, and Chicago's per-unit cost rose 1.9% over three years while the national average rose 55%. The asterisk is spelled h-a-i-l.

Jul 12, 2026 · 6 min read

FinancingMacro

Freddie retired the SBL program. Small-balance borrowers should read the fine print.

The workhorse loan for 12 to 50 unit deals was replaced in April 2026, and the new program quietly dropped the favorable tier Chicago used to qualify for. What changed and what it means for underwriting debt.

Jul 6, 2026 · 6 min read

These notes are market commentary, not investment advice and not an offer of securities. Figures are drawn from the named public sources as of their stated dates and may have changed since.