By Hal Dardick
Source: Chicago Tribune

While homeowners may feel property tax relief from Cook County Assessor Fritz Kaegi’s re-assessment in 2020 of the south and southwest suburbs, commercial landlords may feel overwhelmed and discouraged to operate businesses in the region.

Kristi DeLaurentiis, executive director of the South Suburban Mayors and Managers Association, said “Our concern is we’re going to have more stagnation in investment and potentially further divestment if businesses find it too onerous to come back within our communities, and that’s a downward spiral.”

Even though commercial landlords, may feel that their assessment increase was too significant to operate in the region, they can appeal their assessment to the Cook County Board of Review. When Kaegi re-assessed the north and northwest suburbs in 2019, many commercial landlords appealed their assessment and received relief that reduced their assessment to what they felt were more tolerable levels.

One business owner, Jon Felix, has already considered selling the property where he operates his business because the property taxes are too burdensome.

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