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Tax News2019-08-30T14:42:31-05:00

Warehouses Near Chicago Sell for $50 Million Amid Record Buying Pace

November 22nd, 2021|Categories: Illinois|

Stag Industrial Picks Up Four Properties in Crystal Lake, Illinois, From Link Logistics Real Estate Stag Industrial paid almost $50 million for four warehouses in Parkway Industrial Center in Crystal Lake, Illinois, including 300 Exchange Drive. November 19, 2021 | 4:53 P.M. A real estate investment trust paid almost $50 million for four warehouses in suburban Chicago, continuing a record [...]

1/3 of Major New York Employers in Survey Expect To Cut Office Needs in Next Five Years

November 16th, 2021|Categories: Economics|

Some 13% of Companies Also Plan To Cut New York-Based Workforce, New Study Says One-third of major employers in New York expect they will need less office space in the next five years, a discouraging sign for the troubled office market.  CoStar News November 10, 2021 | 4:17 P.M. In a discouraging sign for an office market itching to recover [...]

Unable To Sell, Investor Hands Chicago Office Building Back to Lender

November 15th, 2021|Categories: Development Projects|

Building at 65 E. Wacker Place Is Latest in City Unable To Make Loan Payments Amid COVID-19 Pandemic The 24-story building at 65 E. Wacker Place in Chicago includes a two-level Morton's steakhouse. (CoStar) November 7, 2021 | 4:56 P.M. After a year trying to sell a financially struggling office building in Chicago, an investor has handed it back to [...]

Chicago is getting a casino

November 11th, 2021|Categories: City of Chicago, Development Projects|

East Coast gambling company deals Chicago two more casino bids Bally’s Corporation submitted two of the five casino bids that are now under review by Mayor Lori Lightfoot’s office, but an alderman says one of their pitches should be “immediately eliminated.” By Mitchell Armentrout@mitchtrout  An artist’s rendering of a proposed Chicago casino that would be located south of McCormick Place.Provided [...]

China should advance property tax legislation – think tank

November 10th, 2021|Categories: International|

A man walks at a residential area in downtown Shanghai January 28, 2011. REUTERS/Carlos Barria BEIJING, Nov 10 (Reuters) - China should advance the legislation of a proposed property tax and hold the line on speculative purchases, a state think tank said, underlining Beijing's resolve to tame the once unruly property market despite ongoing upheaval in the sector. Last month, [...]

Too Many Administrators

November 8th, 2021|Categories: Illinois|

Op-Ed: Two ways to fix Illinois' too-high property taxes, teacher shortages Ann Miller  For 30 years, Deb Roti was a special education teacher at a public school in Cary, Illinois, and saw firsthand how Illinois prioritizes administration over education. “It is my firm belief that we have too many administrators making huge salaries that will require larger and larger pension [...]

Future Chicago Tax Increases are tied to the CPI but which CPI?

November 2nd, 2021|Categories: City of Chicago|

When Mayor Lori Lightfoot persuaded aldermen last year to tie annual property tax increases to the rate of inflation, she argued it would give the city and its taxpayers a degree of certainty, while sparing the City Council from having periodically to enact huge, unpopular hikes. Yet the $16.7 billion budget aldermen approved Wednesday — the first containing the automatic [...]

Chicago City Council passes mayor’s 2022 budget

October 28th, 2021|Categories: City of Chicago|

$16.7 Billion Budget is a Record Mayor Lori Lightfoot’s $16.7 billion budget sailed through the City Council by a vote of 35 to 15, thanks to an avalanche of federal relief funds helping support an unprecedented 30% increase in city spending. By Fran Spielman Updated Oct 27, 2021, 12:32pm CDT The Chicago City Council met Wednesday at City Hall for [...]

New TIF districts coming to Porter County

October 11th, 2021|Categories: Development Projects, Indiana|

Doug Ross Oct 9, 2021 Updated Oct 9, 2021 The proposed South Haven Industrial Park at the northwest corner of Ind. 149 and U.S. 6 is zoned for light industrial use. "It's probably going to be the largest industrial park with vacant land in the north end of the county," consultant Stu Summers said. The county’s Redevelopment Commission and Plan [...]

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