The residential property values of property owners in Cook County, Berwyn Township increase annually. The residential property market in Berwyn Township experienced a modest increase of 0.4% in 2024, rising from $3.54 billion in 2023 to $3.56 billion. The houses with the most significant value increase of 9% had a value range of $500k to $750K. Higher value homes had the lowest increases, while lower value homes had a high increase. For example, homes ranging in value from $250k to $500k had an increase of 0.32%. Commercial properties in Berwyn Township have encountered a great increase in value in accounts, as opposed to residential properties. By 2024, commercial values experienced an extraordinary 3.8% increase. In 2024, the average assessment of commercial property in Berwyn Township of Cook County was 5.1%, and the value of the property surpassed $1.5 million. Owners of commercial properties valued between $1 million and $1.5 million experienced the... Read More

In Cook County, Illinois, the Cook County Assessor’s Office reassesses the value of all properties in the city every three years. This process is known as the triennial reassessment. Depending on the township and suburb – North suburb South suburb, and City of Chicago- property owners in Cook County will receive the reassessment of their property and file for an appeal. At the time that a township is “open” for assessment and appeals, property owners in Cook County will get a Reassessment Notice in the mail. “Open” signifies that the filing period is officially published and is available to all residents of a township. It is the period during which you may submit your appeal to the Cook County Assessor’s office. A minimum of 30 days is required for the opening of all townships. The reassessment notice will include critical information, such as the newly estimated fair market value of... Read More

Property valuations and assessments are different in townships in Cook County, Illinois. The appeal and reassessment process is governed by the regulations of each county and township in Illinois. The Cook County Assessor’s Office is in charge of determining the value of more than 1.8 million single-family homes and other properties located within the county. Residential properties in Cook County are assessed as of January 1st of the current year (2024), using three to five years of prior market sales data. It is only possible to file an appeal at certain periods of the year. Every three years, the Cook County Assessor’s Office updates its evaluation of the fair market value of properties and corresponding assessed value of each property. The fair market value of properties is determined by the reassessment, which is essential for the calculation of property taxes. Illinois does not conduct annual property tax revaluations; rather, they operate... Read More

Cook County Assessor raised the market value of 103 N Laramie Avenue, Chicago by 1,642% increase in just one year! This is for a duplex in West Chicago Township. The total market value was raised to $310,000 in 2024 from $17.800 in 2023. The assessed value rose from $1,780 in 2023 to $31,000 in 2024. It is impossible to contrast the sales price to the 2024 tax assessment since this property was part of a bulk sale with a total sales price of about $1.4 MM. One might expect a major renovation. There was a sale from St. John Church of God in Christ to Fuller Springs LLC in March 2023, however, there is no indication based on online photos or from residential rental advertisements to support a massive renovation, yet the value of the improvements rose by 2,727% from 2023 to 2024. If this is not a world record,... Read More

In Illinois, every county and township has its own regulations. In Cook County, residential properties are evaluated as of January 1st of the current year, utilizing three to five years of prior market sales data. This enhances the stability of market value estimates by employing multiple years. It is important to use prior market sales data to make sure the most accurate data is provided and up to date. The taxable quantity of the property is the level of assessed value, as determined by the Cook County ordinance. The Cook County Assessor’s Office is liable for the valuation of over 1.8 million parcels in the county. When it comes to residential property, the assessed value is equivalent to 10% of the home’s fair market value, as stated by the office of the assessor for Cook County. To arrive at an assessment of the fair market value of your property, the... Read More