Suffredin- An Advocate for All of Us  
 

Accountability
Forest Preserves
Public Safety
Cook County Budget
Forest Pres. Budget
Property Tax Appeal
Health & Hospitals
Land Bank Authority
Policy Resolutions
Unsung Heroine

 

   
 
   
   
 
   
     
  Office phone numbers:  
   
 
 

The Cook County Code of Ordinances are the current laws of Cook County.

   
 

Search current and proposed Cook County Legislation in Larry's exclusive legislative library.

   
  Eighteen of the 20 largest banks in the world and more than 50 foreign banks have offices in Cook County.
   
     
     
     



Cook County property values back to 2008 level—almost
A Civic Federation study suggests the total market value of all real estate in the county continues to claw its way back to the pre-subprime crash level, but isn't there yet.

Monday, September 30, 2019
Crain's Chicago Business
by Greg Hinz

Cook County property values back to 2008 level—almost

A Civic Federation study suggests the total market value of all real estate in the county continues to claw its way back to the pre-subprime crash level, but isn't there yet.

Getty Images

Chicago property values still haven't fully recovered from the subprime mortgage crash, but they're starting to get close.

That’s the bottom line of a new report from the Civic Federation on the estimated full market value of all real estate in Cook County, be it offices, shopping malls or homes and apartments.

According to the report—which combines data collected by state and county agencies for property taxes and then backs out items such as the state's multiplier—the full value of all property in the county was $586 billion in tax year 2017, the latest for which full figures are available.

That's roughly $30 billion less than a decade ago and $80 billion below the peak figure of $666 billion in 2008. But values almost certainly have risen in the two years since 2017, potentially putting the county pretty close to the old record.

On the other hand, none of these figures has been adjusted for inflation. So to catch up to the 2008 figure in real terms, the total value of property in Cook County would have to be higher than $666 billion.

Federation President Laurence Msall chose to underline the good news.

"This fifth consecutive year of growth in the estimated full value of property in Cook County is a positive sign that the real estate market continues to recover," he said.

CITY VS. SUBURBS

The "estimated full market value of real estate in the city of Chicago increased by 4.4% in tax assessment year 2017 while the northwest and southwest suburbs experienced increases of 4.0% and 6.6%, respectively," according to the report.

Long term—over the past decade—the city proper now has recovered its loss of value, but suburban areas still are down.

The report does not distinguish between types of property, but the recovery appears to be much faster in commercial than in residential, where values still are lagging even more, according to reporting by my colleague Dennis Rodkin.



Recent Headlines

Landlords get socked as Kaegi reassesses north suburban properties
Wednesday, October 16, 2019
Crain's Chicago Business

Council Endorses Petition for New Tax Status of Howard Street Building
Wednesday, October 16, 2019
Evanston RoundTable

County watchdog: Police sergeant violated sexual harassment policy, employee misused time off for Jamaican vacation
Tuesday, October 15, 2019
Chicago Sun-Times

What I learn when I have lunch at Cook County Jail
Monday, October 14, 2019
Chicago Sun-Times

County officials say pension board’s proposed fix would cost an extra $267 million
Monday, October 14, 2019
Crain's Chicago Business

Trump policy targeting immigrants who use safety net services blocked by federal court in Illinois
Monday, October 14, 2019
Chicago Sun-Times

Cook County Board President Toni Preckwinkle Unveils FY2020 Executive Budget Recommendation
Monday, October 14, 2019
Chicago Defender

Criminal justice reformers are making the case to end cash bail in Illinois
Sunday, October 13, 2019
Chicago Sun-Times

Expungements, tax appeals will cause hiring spree as overall Cook County jobs decline
Thursday, October 10, 2019
Daily Herald

Cost to Cook County to clear pot records: $700,000
Thursday, October 10, 2019
Crain's Chicago Business

No New Taxes in Cook County Budget
Thursday, October 10, 2019
WTTW News

Inside the 2020 county budget Preckwinkle unveils today
Thursday, October 10, 2019
Crain's Chicago Business

League of Women Voters of Illinois Executive Director appointed as Chair of the Cook County Commission on Women’s Issues
Thursday, October 10, 2019
Chicago Defender

No layoffs or tax hikes in Preckwinkle’s $6.1B county budget — but also no pot revenue or gambling jackpot
Wednesday, October 09, 2019
Chicago Sun-Times

Graduate Hotel coming to Evanston
Tuesday, October 08, 2019
Crain's Chicago Business

Promising no tax hikes, Preckwinkle angles for no-drama 2020 county budget
Tuesday, October 08, 2019
The Daily Line

Metra revs up capital spending wishlist amid ‘unprecedented’ gush of state funding
Tuesday, October 08, 2019
The Daily Line

North-suburban assessments could mean for break homeowners, ‘straight-up terror’ for commercial owners
Monday, October 07, 2019

Federal monitor: Kaegi not on ‘effective path’ to end oversight of assessor’s office hiring
Monday, October 07, 2019
Chicago Sun-Times

Lightfoot, Preckwinkle Clash Over Metra Electric Proposal
Wednesday, October 02, 2019
WTTW News

all news items

Paid for by Larry Suffredin and not at taxpayer expense. A Haymarket Production.
^ TOP