Lucrative loophole benefits those who purchase delinquent property taxes in Cook County at expense of government, new study says – Chicago Tribune/MSN

In one case, the treasurer sold taxes for a portion of the Kennedy Expressway that the assessor’s office had wrongly classified as taxable vacant land. The purchaser, a New Jersey-based investment fund, bought $1.6 million in taxes for years 1996 through 2015, according to the report. The company held on to the “taxes for three years before seeking a refund, compiling interest along the way” and claimed in court filings it had “no knowledge” the property was actually a stretch of highway.