🏠 Who's downsizing

👀 Hello, Saturday! We're talking to empty nesters who ditched their big homes for smaller ones.

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🎂 Happy birthday to our Axios Chicago member Judy Joliat!

Today's newsletter is 775 words — a 3-minute read.

Mark and Kathy Swartzendruber "couldn't be happier" with their Sauganash Park house that boasts a yard, a tree-lined street — and just over a third of the square footage of their old place.

Why it matters: With empty nesters hogging family-sized homes, we're talking to some Chicagoans who have downsized or are thinking about it.

The Swartzendrubers, who left behind a four-bedroom Albany Park home last year, put 50% down and still had funds left over from the sale to add a two-car garage and remodel the smaller pad's bathrooms, among other improvements.

What they're saying: "Think about where you really spend your time at home. For us, it's my home office and the kitchen," Mark Swartzendruber says.

• The 61-year-old tells Axios the couple considered moving to the suburbs but "the combination of higher taxes and higher interest rates wouldn't be a downsize in cost."

Reality check: Many older people are on fixed incomes, and those who own homes are often staying put because they're mortgage-free or have a low interest rate.

• Baby boomers with empty nests own nearly a quarter of the Chicago metro's homes that offer at least three bedrooms, according to a recent Redfin report.

Housing costs aren't the only challenge. Purging or packing decades of belongings can be overwhelming.

• It's why Linda Leahy hired someone to help sift through her and her late husband's stuff before buying a one-bedroom Near North Side condo. "Eleven years and a second late husband, I need her," Leahy tells Axios.
• "Getting older and having fewer brawny young male friends who will trade a few beers for some heavy lifting limits possibilities, unless a deep pocketbook is at hand," says Christine Struminski, who lives in the Loop.

The latest: More seniors are ditching homeownership entirely, with some moving into swanky apartments loaded with pools and other perks.

• Others are seeking homes that feature aging-friendly designs such as single-level floor plans, shower seats and handheld showerheads.

The bottom line: "I'm tired of the maintenance and upkeep that is necessary with this large of a home," says Deborah Murphy, who's parting ways with her three-bedroom Rockford home because she wants to travel.

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No home, no lease, no storage unit, no problem for Gary and Judy Kelly, who have been traveling the world since early last year.

Zoom in: Everything the couple owns fits in two suitcases and two carry-ons, says Gary Kelly, who grew up in south suburb Evergreen Park.

• They previously moved from a 2,800-square-foot home to an apartment less than half its size.

What they're saying: "The anxiety of giving away a lifetime of stuff was tempered by the anticipation of the adventure we were undertaking," Kelly tells Axios.

How it works: Picking where to visit is easy — the Kellys maintain a spreadsheet with over 275 cities, rating each destination with a letter grade "like a report card."

• Getting travel health insurance and finding furnished short-term rental apartments is harder, Kelly says.

Saying goodbye to a home packed with memories is a top challenge for home sellers aged 55 and older, according to a recent analysis from real estate platform Opendoor.

Between the lines: The typical Chicagoland homeowner has spent 15.2 years in their home, which is four years more than a decade earlier, per Redfin.

West suburb Glen Ellyn homeowner Barbra Watkins isn't ready to part with her four-bedroom house — she hosts her three grown children and their spouses when they visit — but she's slowly paring down their stuff.

Pro tip: "We told our kids they need to store things they want to keep at their house and not Mom and Dad's," Watkins says.

Go deeper: America's homebuyers are getting older

Nearly one in three adults has a criminal record, which can make it hard to get a job. Through its Second Chance policies, JPMorganChase helps break down barriers to employment.

The impact: Excluding people with convictions from the workforce could cost the U.S. economy up to $87 billion a year.

Learn more.

If you've worked with a real estate agent, tell us how you found them and how it went.

• What did you love most about your agent? Did they find your dream house? Guide you through the emotional ups and downs?
• What value did they add to your home buying or selling experience?
• Have you ever used an online or discount brokerage?

Email realestate@axios.com with your name and neighborhood or hit reply. We may feature your insights in an upcoming newsletter.

At the North Lawndale Employment Network (NLEN), residents with convictions can get valuable job training at Sweet Beginnings.

The details: Over the years, Sweet Beginnings has hired 750+ people — and JPMorganChase has contributed more than $1.9 million to NLEN programs.

Learn more.

Our picks:

🚁 Sami is reading this book.

🍁 Bri is returning to her fall comfort show.

Thanks to our editor Ashley May and copy editor Bill Kole.