Chicago apartment rents will rise as landlords battle tax hikes – Loop North News

The expected massive tax increases in 2022 will be fueled by the 2021 triennial reassessment in Chicago, and Mayor Lori Lightfoot’s plan to link future property tax increases to the rise in inflation. As a result of this double-tax tsunami, renters in the North Side neighborhoods of Gold Coast, Lincoln Park, Old Town, River North, and Streeterville should brace themselves for hefty rent increases next year.