I broke down the Chicago housing market on the channel this week: inventory is down 12% from last year, prices are up 10%+ in some southwest suburbs, and the lock-in effect is keeping supply tight heading into fall. If you’re waiting for prices to drop before you make a move, the numbers might change your plan. Full breakdown below.
Also, Men Who Cook and Oktoberfest are both this Saturday. Two good ones out south worth putting on the calendar.
Here's what's inside:
🍗 A Jamaican jerk restaurant is coming to Frankfort
🦇 Third rabid bat found in Oak Forest, what to know
📋 New Lenox wants your input on Village Commons events
📺 Chicago housing market 2026, what you need to know
🎭 Oktoberfest, Masquerade Ball, and Men Who Cook this weekend
🏡 Three listings worth a look
🔍 $400K in Austin vs. $400K in New Lenox
🚪 Gas prices, jobs, and your weekend weather
LET'S GET INTO IT ↓
Local headlines this week
🍗 A Jamaican Jerk Restaurant Is Coming to Frankfort
Jamaican Jerk Choice got approved by the Village Board, coming to Hickory Creek Marketplace on LaGrange Road. Owner Paul Green was raised in Jamaica and lives in Frankfort. Jerk chicken, curry goat, red beans and rice. Good addition out south.
🦇 Third Rabid Bat Found in Oak Forest
Third positive rabies case in Oak Forest since August. Found Oct. 9 near El Morro Lane. Keep pets leashed and vaccinated. Find a bat on your property, call 708-974-6140. Don’t touch it.
📋 New Lenox Wants Your Input on Village Commons Events
Quick anonymous survey on Village Commons events, open through October 23rd. About five minutes.
Chicago Housing Market 2026. What You Need to Know.
Waiting for prices or rates to fall before you make a move? The data heading into fall might change your plan. I broke it all down on the channel this week.
Here’s what the numbers show:
Inventory is shrinking fast. Homes available for sale across Chicagoland dropped over 12% from the same time last year. The number that actually sold barely moved. Less supply, same demand, that math only goes one way
Prices are up double digits in some areas. The southwest suburbs are running 10%+ year over year in certain towns, a stark difference from much of the country where prices have softened or dropped
The city vs. suburbs picture. Chicago proper is moving differently than the collar counties. Inventory is tighter in the suburbs, prices are holding firmer, and the buyer pool is staying active longer into fall than it typically does
The lock-in effect is real. Homeowners sitting on 2-3% mortgages aren’t selling unless life forces their hand. That keeps supply artificially low and puts upward pressure on the homes that do hit the market
Rates change your buying power more than price does. A 1% move in rates on a $400K loan changes your monthly payment by roughly $250. Waiting for a price drop while rates stay elevated often costs more than just buying now
Strategy for buyers. Stop waiting for perfect. Focus on locking in a rate you can refinance later, not chasing a price that may not come
Strategy for sellers. Thin inventory is working in your favor right now. If you’ve been sitting on the fence, fall 2026 is one of the stronger windows you’re going to see
Watch the full breakdown here
New videos every week: market breakdowns, local development, what's actually moving in the suburbs. Subscribe here so you don't miss one.
Oktoberfest, a masquerade ball, and Men Who Cook
🍺 Oktoberfest (Lockport)
Traditional Alpine music from Max’s Oberkrainer Express: a band from Germany, Austria, and Slovenia, at the Lockport VFW. Bratwurst or pork chop, $10 admission, ages 12+.
Good Saturday out south.
📅 Sat, Oct 17th | 3 PM
📍 Lockport VFW Post 5788, 1026 E 9th St
🎭 Witching Hour Masquerade Ball (Joliet)
Masquerade attire encouraged, tarot readers, psychics, crystal vendors, and healers in an immersive, moody atmosphere at the Renaissance Center in downtown Joliet.
📅 Fri, Oct 16th | 6 PM
📍 Renaissance Center, 214 N Ottawa St, Joliet
🍽️ Men Who Cook (Joliet)
Annual fundraiser for the Will County Children’s Advocacy Center: local men competing in a cook-off with food, drinks, live entertainment, and raffles.
Always a great night out south for a great cause.
📅 Sat, Oct 17th | 6 PM
📍 Joliet Junior College Event Center, 1215 Houbolt Rd, Joliet
📍 8436 Stratford Dr, Tinley Park
Featured Listing: Tinley Park
Updated condo at $310K: new A/C, furnace, roof, and carpet already handled. Nest thermostat, new patio door, custom blinds. Five minutes to I-80 and the 80th Ave Metra, 10 minutes to downtown Tinley and the amphitheater. Dog park a quarter mile out. Low HOA.
📍 3748 W 54th St, Chicago, IL
Featured Listing: Chicago
Four beds, two baths, fully renovated minutes from Midway. Designer kitchen, custom bathrooms, new floors, updated HVAC, 200-amp electrical. Strohacker Park, schools, shops, and restaurants all nearby. Nothing to do but move in.
📍 886 Canongate Ln, New Lenox
Featured Listing: New Lenox
Built in 2023, upgraded, and ready now, no build wait, no upgrade costs. Four beds, 2.5 baths, quartz countertops, gas range, walk-in pantry, custom built-ins, and a full wall of dining storage most new builds skip. Every bedroom has a walk-in closet. Oversized loft, upstairs laundry, full basement with roughed-in plumbing. 44x15 ft patio out back. Lincoln-Way schools. $650K.
See the full listing here
Thinking about making a move in 2026? Click here and send me a message!
$400K in Austin or $400K in New Lenox?
I broke down the Chicago market on the channel this week. While prices in cities like Austin and Miami have pulled back significantly from their peaks, Chicagoland is doing something different: inventory dropped over 12% from last year, and prices in the southwest suburbs are up 10%+ year over year in some towns.
At $400K in Austin, you’re buying into a market that ran hot, overcorrected, and is still figuring out where it lands. Strong job market, no state income tax, warm weather. But buyers who bought at peak in 2022-2023 are underwater, and the market hasn’t found its floor yet.
In New Lenox at $400K, you’re buying into a market that never spiked recklessly and hasn’t pulled back. Steady, consistent appreciation. Metra access, top-rated schools, Wintrust Crossroads delivering economic impact, and a Will County tax structure that runs more favorably than Cook. The Chicago market doesn’t make headlines the way Austin did, and that’s exactly why it performs the way it does.
Boring beats flashy every time in real estate.
Nobody’s running that comparison before you fall in love with the idea of moving to Austin. Now you have it.
👉 See what $400K looks like in New Lenox
👉 See what $400K looks like in Austin
Thinking about making the move? Just send me a message, and I'll walk you through both sides based on what actually matters to you.
⛽ CHEAPEST GAS IN THE SOUTH 'BURBS!
Prices as of 10/11/26 (USA National Gas Station Price Heat Map)
📍 Manhattan — ~$4.49 ⬆️ From Last Week
📍New Lenox — ~$4.92 ⬆️ From Last Week
📍Mokena — ~$4.47 ⬇️ From Last Week
📍Frankfort — ~$4.98 ⬆️ From Last Week
💼 LOCAL JOBS & VOLUNTEER PICKS
🌤️ WEEKEND WEATHER: FRANKFORT, IL
Friday: 55°/33° — 🌤️ Partly Cloudy — 💧5% — 💨 NW 20mph
Saturday: 60°/38° — ☀️ Sunny — 💧4% — 💨 WSW 7mph
Sunday: 66°/48° — ☀️ Sunny — 💧4% — 💨 SSW 13mph
Thanks for reading this week’s edition of the Chicago Suburbs Scoop.
Every Thursday, I'll be dropping this in your inbox.
Local news, what's going on this weekend, where the market's at, and a few things to make your week a little easier.
If there's something you want to see more of, just reply and let me know. This thing gets better when you tell me what matters to you.
Have a great weekend, and I’ll see you right back here next Thursday.
— John
📞 708-612-0644 | [email protected]
