Chicago high-rise facade reports are due Nov. 1 (short form) and Dec. 1 (critical examination). What the reports say, how they affect condo loans, and what buyers should ask the building.
For Full Review loan applications dated on or after Jan. 4, 2027, Fannie Mae requires condo buildings to budget at least 15% of assessment income for reserves, up from 10%. What it means for Chicago budgets, owners and buyers.
For conventional loan applications dated on or after Aug. 3, 2026, Fannie Mae no longer allows Limited Review of established condo buildings. What a Full Review checks, which Chicago buildings feel it most, and what buyers should do now.