"A Cook County working group just released a third-party study of commercial assessments by my office and the Board of Review. It looked at nearly a thousand sales of commercial properties between 2021 and 2023, measuring them against our valuations. The single most important result? Commercial properties in Cook County were found to be underassessed. Specifically, the report found a tendency for commercial assessments coming out of the Board of Review to be too low."
“Specifically, the report found a tendency for commercial assessments coming out of the Board of Review to be too low.”” Someone should take a look at any relationships these board members of their families have with the owner of underassessed properties or the law firms that represent them.
debtsor
1 year ago
Commercial assessments are too low? Seriously? Much of Cook County is a commercial wasteland with five figure tax bills being the norm, and he claims commercial assessments are too low? Not long ago I showed a former Burger King on the south side with a $70k a year tax bill. How many freaking burgers does a restaurant need to sell to pay a $70k tax bill? and that’s before any other cost! No wonder it’s been vacant for years. Many banks won’t even lend on smallish light industrial properties because the tax bills exceed the market rent. This is what… Read more »
Fritz needs to wake up when the potential buyers of 311 S. Walker are talking about dismantling a 65 story building. He’s lucky that Brando doesn’t grasp what he does.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
“Specifically, the report found a tendency for commercial assessments coming out of the Board of Review to be too low.”” Someone should take a look at any relationships these board members of their families have with the owner of underassessed properties or the law firms that represent them.
Commercial assessments are too low? Seriously? Much of Cook County is a commercial wasteland with five figure tax bills being the norm, and he claims commercial assessments are too low? Not long ago I showed a former Burger King on the south side with a $70k a year tax bill. How many freaking burgers does a restaurant need to sell to pay a $70k tax bill? and that’s before any other cost! No wonder it’s been vacant for years. Many banks won’t even lend on smallish light industrial properties because the tax bills exceed the market rent. This is what… Read more »
Fritz needs to wake up when the potential buyers of 311 S. Walker are talking about dismantling a 65 story building. He’s lucky that Brando doesn’t grasp what he does.