Hi Gene:
Baldcypress does well across Illinois. According to a publication from the University of Florida, the planting of baldcypress seedlings in shallow water is okay, provided the seedlings are not completely submerged.
Source: http://edis.ifas.ufl.edu/fr152
I've personally witnessed baldcypress trees growing along frozen ponds here in central Illinois, so I suspect they would do just fine up in northern Illinois.