And the latest talk (the world is going to end as we know it in real estate ) started with rates abrupt rise from all time lows back to historic norms.

Normal Freddie Mac property standards.No FHA "self-sufficiency test" that kills transactions at the last minute.Underwritten and funded in-house, no send-off to an outside Agency for approval.That's all great, but the problem that frequently came up is historically (and for the next 2 months) you couldn't own other real estate.

It is supposedly the most overpriced area in the US based on historical patterns.

If not on the site, call them - they can resolve your issue, may take awhile, may not - But do get the serial # off the Home, so they can do a search and get historic information on that specific home. 

Our condo regulations comply with state STR ordinances, but not the new local/city ones.Does anyone know of a way we can challenge this, or is there any way we can get some type of exemption or waiver (perhaps historical precedent, or "zoning by right")? 

Hey @Jordan Gerkin - We typically look at the historical data in conjunction with talking with some Chicago tax attorneys. 

Historical trends ( looking back thru the last cycle) Monthly Sales trends on an annual basis.

Historically I have been very data driven when it comes to screening.

Historically speaking, metropolitan cities have an average of 5% vacancy rate and smaller towns are usually 10%.

The market here is already historically hot (prices have shot up and inventory is way down) so it'll been interesting to watch how things develop this year.