The 2015 Second installment real estate tax bills for Cook County have been released as of 10:00am this morning. For Chicago residents, this bill has been highly anticipated (dreaded) since the 2015 re-assessments were announced. As I wrote earlier this year, may of you expect to get dinged pretty hard. To see how bad the damage is, head over to the Cook County Treasurer’s website by clicking here. Once there, click “continue” and enter your PIN. If you do not know your PIN, head over to the Cook County Assessor’s website here. Click “Dont know your PIN?” and enter your address. LIFE PRO TIP!!! If you are an owner occupant, and…
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Estimate Your Closing Costs – Part 1
If you have ever bought or sold a home, you know that there are all sorts of charges that you incur in addition to the purchase price, which are known to most as “closing costs.” We all know about them, but estimating the final number can be elusive if you are not familiar with the process. In the next four emails, I am going to shed some light on calculating the closing costs, so that you can better understand what the home is really going to cost you as a buyer or what you can expect to walk away with as a seller. Real Estate Taxes The real estate tax…
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Chicago Real Estate Agents – How To Deal With The 2015 Property Re-Assessment
The 2015 triennial re-assessment for City of Chicago property brings a huge increase to real estate assessments on the North and Northwest sides of the City. Although the median increase among the 184 city neighborhood areas is 10.4%, it would be a mistake to think that a 110% tax proration will provide a sufficient credit for all of your Buyers. Individually, the are some properties where the assessed value has increased nearly 50%! If you have clients who are buying or selling real estate on the North or Northwest Side, especially in East Village, Ukranian Village, Streeterville, River North, Gold Coast, Bucktown, Wicker Park, Lake View, Logan Square, Lincoln Square…
