Office Building Problems
Affordable Housing in Illinois, Update
The affordable housing landscape has changed dramatically with the passage of 35 ILCS 200/15-178 and a subsequent amendment through Senate Bill 3895. In recent years, jurisdictions have begun requiring that residential developments include on-site affordable housing units. To offset the cost of on-site affordable housing, Springfield has created two new avenues by which affordable housing developers can realize significant tax benefits. [...]
Assessment Hikes Continue
Chicago Race for Mayor
Mayor Lightfoot is out. Primary winners Paul Vallas will face Brandon Johnson in the April runoff.
Federal Reserve says Overvalued Commercial Real Estate Poses a Risk to the Financial System
Federal Reserve Warning
Proposal to Limit PTAB
HB 3105 has been introduced in the Illinois General Assembly. Essentially, the bill will prohibit appeals to the PTAB after 2024.
Illinois Local Governments Levy Hefty Fines
1st installment 2022 Cook County tax bill due date moved to April 3, 2023
CHICAGO, Jan. 4, 2023 /PRNewswire/ -- Cook County property owners will have an extra month to pay their First Installment property taxes this year, and their bills are already available online. Governor J.B. Pritzker signed HB 5189 into law last month making Monday, April 3, 2023, the new due date. Property taxes are mailed twice a year. First Installment bills [...]