Norwood Park Residential Values Climb up to 58%

When we broke down reassessment as a whole, we used Norwood Park as a case study for a reason. When the 2025 reassessment hit, the total value of all residential property shot up 19%. This moved the total from $3.21 billion to $3.82 billion almost overnight. While this put Norwood Park behind Evanston Township’s overall increase of 23%, Norwood Park suffered much larger swings in value across all types of homes. If there is one blessing in the mix, it is that the value peaks hit the wealthiest homes the hardest, while impacts were reduced as the worth of the residential properties fell.

At the top of the mountain, homes worth over $1.5 million saw a staggering jump of 57.9% in value. The value of this cross-section of homes increased from $950 million to $1.5 billion. Considering the worth of these individual homes, this spike can easily mean devastating tax bills, even for affluent owners. It should be noted that property values across Cook County climb every year and homes worth over $1.5 million are no longer mansions but could be older homes that have been in the hands of families for generations. Homes in the price range are now the second-largest category of homes in Norwood Park when it comes to value. Homes worth between $1 million and $1.5 million saw their values soar by 49.9%.

Even when approaching what would be considered middle-class, the value surges did not relent. Homes worth between $750,000 and $1 million climbed 35%, while those between $500,000 and $750,000 saw a bump of 25.2%. The largest group of homes, those worth between $250,000 and $500,000 saw a value increase of 13.6%, the smallest of the spikes. This somewhat conservative jump is why the total value surge was not larger. Homes worth less than $250,000 experienced an increase of 19.5%. Though this is the smallest subset of houses, this large increase is a significant threat to the most vulnerable of homeowners.

Norwood Park Experiences Record Commercial Value Jumps

While the residential total was relatively sedate by reassessment standards, at least as a whole, the same cannot be said for commercial properties. Business owners were slammed with a total increase of 37.8%, a figure that bested even Maine Township’s colossal spike of 36%. This surge took the total value of Norwood Park’s commercial properties from $513.48 million to $706.38 million. Unlike homes, the largest of rises were felt by the primary property type of the township.

Businesses and commercial properties worth over $1.5 million saw a giant increase of 43.8%. As these properties accounted for over half of the total value, this was a massive increase, going from $341.46 million to $491.11 million. Between the money involved and the percentage of the increase, this looks horrendous on a balance sheet but could be even worse in reality. These commercial properties represent a good portion of the economy in Norwood Park and rising values and taxes mean higher prices. Especially since some of these skyrocketing properties are apartment buildings or other multifamily residences.

It was not just the large properties that suffered. Those worth between $1 million and $1.5 million experienced an increase of 31.9%, while those between $750,000 and $1 million saw a stark rise of 24%. Businesses worth between $500,000 and $750,000 saw a sizable increase of 26.2%. Even tiny businesses and properties worth less than $250,000 saw a jump of 10.9%. Like homes, these smaller commercial properties can afford the increase the least.

Only Appeals Protect Cook County Property

The Cook County property value increases have become infamous across the United States, with many figures appearing to be satire or blatant exaggerations. In 2023, some Chicago neighborhoods experienced spikes of 500% or more. While everyone in the north, including Norwood Park, feared that this would be their reality during reassessment, at least this has not come to pass. While things were not apocalyptic this go around, taxpayers of all budgets and stripes are feeling the pinch. These spikes did not happen in isolation either, as property values and tax rates continue to rise, even outside of a reassessment year.

The CCAO has been mired in controversy and issues for the past few years, forcing more people than ever before to look for solutions. A recent computer issue will cause things to be delayed once again, putting everything CCAO does into question. With errors galore across Cook County, a computer system in disarray, and finger-pointing between government agencies being the norm, the need for property tax appeals and protests has never been greater. In fact, with tacit endorsement from the head of the CCAO himself, it appears that property tax protests are entering their golden age.

Property tax appeals are setting records across Cook County, especially in places like Norwood Park. It has become supremely evident that the only way out-of-control values are going to be reined-in is by the taxpayers themselves taking charge. Property tax appeals are vital to keep CCAO honest in the best of times. When executed correctly, a protest can make all the difference in the world for homeowners and those that own commercial properties. There are currently millions, if not billions, on the line.

Norwood Park’s Final Appeal Deadline Looms on August 5

Cook County property tax protests come in various stages. The initial step is an informal appeal with the CCAO. These were held earlier in the year and are no longer an option. What is still on the table, at least until the deadline, is a formal appeal to the BOR. With the recent history of the CCAO, including allegations that appeals were removing burdens from large businesses while placing the onus on lower-income people, many see the BOR as the legitimate alternative now. This has been helped by something of a rivalry between the CCAO and the BOR developing.

The deadline of August 5, 2025, is a hard one though, and represents the last chance that the people of Norwood Park have to set the record straight. If this opportunity is missed, then taxpayers have no choice but to suffer the full brunt of the reassessment’s inflated values. With computer issues abound and no end in sight, history tells us that property values and taxes will only be higher next year. Now is the perfect time to strike, even if there are only a few scant days left.

O’Connor Knows Cook County

Even without recent controversies, the Cook County property tax appeal process can be daunting to newcomers, especially BOR hearings that are more formal. If you need assistance, we at O’Connor are here to help. With an office located in Aurora, we know all about dealing with the CCAO, townships, and the authorities of the collar counties. We are also intimately familiar with how the BOR operates, and we know what the best evidence is to bring. We also have a database which tracks all property sales, allowing us to pick the perfect examples to back up your claims. There is no cost to join us, and you will only be charged if we are able to lower your taxes. We will even automatically protest your taxes every year, ensuring that you never miss a deadline or are surprised by a tax increase ever again.