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Chicago Sun-Times
Chicago Sun-Times
National
Alex Nitkin | Illinois Answers Project

Thousands of homeowners in north and northwest Cook County facing property tax sticker shock this fall

Macy’s at Woodfield Mall in Schaumburg is among commercial properties in Cook County’s north and northwest suburbs that have seen their property values fall in Cook County Assessor Fritz Kaegi’s latest reassessments. Kaegi assessed the Macy’s at about $4.1 million last year, down from $7.1 million in 2019. (Mark Welsh / Daily Herald)

North and northwest suburban retailers, office owners and apartment landlords were apoplectic in 2019 when Cook County Assessor Fritz Kaegi raised property assessments on commercial properties as one of his first acts after taking office.

Though the effect was blunted through thousands of appeals to the Cook County Board of Review, many homeowners felt relief as their commercial neighbors caught the worst of the following year’s tax hikes.

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