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Chicago Commercial Property Owners Have Some New Friends

For much of the past year, landlords in the northern and northwest suburbs of Chicago have been very displeased with the tax-hiking actions of Count Assessor Fritz Kaegi. Many of these property owners say that these tax increases have had a “chilling effect” on the local commercial real estate market.

But these commercial property owners still have some pals at the county Board of Review.

New data suggests that the Board of Review, where property owners can appeal their assessments, has slashed assessed values on commercial and industrial properties in seven townships in northern Cook County.

That's great news for owners of apartment, industrial, retail and other buildings. They'll pay less—some, a lot less - in taxes than they would have without the board's intervention.

"We're very happy about it," says apartment landlord Stuart Handle, CEO of Chicago-based TLC Management. "We hope that it will be a trend that will continue."

Mr. Willig engages and coordinates a professional team of real estate brokers, general contractors, leasing agents, and property managers in order to rehabilitate, lease and maintain the properties he acquires for SpringView Investments. He has over 20 years of finance and accounting experience.

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