Real Estate
Chicago Property Values Outside of Core Office District Jump 27%
- City is undergoing first assessment since the end of pandemic
- Appraisals signal how residents, businesses divvy up taxes
The total assessed value in the region rose to about $10 billion from roughly $8 billion a year earlier.
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Property values rose 27% in a big chunk of Chicago that includes the burgeoning neighborhood of Fulton Market, home to fast-food chain McDonald’s Corp.’s headquarters and tech giant Alphabet Inc.’s Google regional hub.
Cook County Assessor Fritz Kaegi on Thursday released the initial assessments of residential and commercial properties for the area that includes all or part of more than a dozen neighborhoods situated west, southwest and northwest of the Loop, the city’s central business district. West Town, Austin, Humboldt Park and Little Village are just a few of the areas included in the calculation.