Property Tax News and the Elegance of North Michigan Avenue

I was recently honored by the Chicago Association of Realtors as a top seller for 2011.  The ceremony will be held at The House of Blues on March 14, and I am gratified to have had the support of so many wonderful clients over the course of my years in Real Estate!

The Chicago Association of Realtors is actively trying to address the issues around the challenging economy of the last few years.  Several C.A.R. officers met with Cook County Assessor Joe Berrios (pictured above) last week, with the primary topic being efforts to lower assessments.  The key event for all of us is that a new round of Assessments is coming to Chicago proper, the first such cycle to hit the City since the recent economic downturn began.

According to the C.A.R. team as well as property consultants, Mr. Berrios understands that it will be difficult for people to accept that their property taxes will be increasing even as the market value of their homes is decreasing.  Thankfully, Mr. Berrios showed an openness and welcoming attitude to the appeals that will be bound to come in.  A consultant named Jim Kane who spoke to the C.A.R. members actually estimates that 80% of those who appeal will receive an adjustment.

Finally, C.A.R. reports that Mr. Berrios “embraced proposals for brokers to work with sellers on the appeal process”.  This means that as Brokers we will be working side by side with our Sellers and assisting them in appealing and hopefully reducing their property tax burden.  This makes good business sense in that all things being equal, a home with a lower tax burden is more attractive to Buyers.

I have friends who manage the Chicago branch of Van Cleef & Arpels, and while I am by no means in a position to purchase the attention-getting pieces that have toured the world in recent months, I can certainly appreciate the artistry behind them. 

The picture above shows three of their famous ‘Zipper’ necklaces.

Their store recently moved up to the Drake Hotel building, next door to the Chanel store, and those two stores certainly match the elegance imparted on the neighborhood by the Benjamin Marshall-designed Drake.

The northern end of Michigan Avenue and then the turn to the left to the magnificent boutiques of Oak Street comprise the most fashionable and up-to-the-minute trendiest shopping district to be found between the East and West coasts.  Chicago has nothing to be ashamed of when it comes to the highest levels of retail selections!

Finally, I support the Ronald McDonald House charity, and their new House on East Grand Avenue is coming along beautifully!  In fact, I want to mention to everyone that there will be a free public Preview of the new House at 211 East Grand Avenue on March 10 from 10am to 12pm! 

Even though the event is free you will need to make a reservation, so please call them at (630) 623-5300!

Leave a comment