Office Portfolio

CBD CHICAGO, ILLINOIS

Initial Market Value $271,811,968
Final Market Value $167,616,276
Tax Savings $4,833,076

 

During the Cook County triennial reassessment, the subject properties’ assessed values increased a combined 57 percent from the prior year. In addition, the properties had been recently acquired for an aggregate purchase price of $285,750,000. We argued that the sales prices did not accurately represent the true fee-simple value and secured a reduction of $104,195,692 in assessed market value.