Be Ready for Chicago Tax Reassessments

If you are involved in a real estate transaction in Chicago in the first 4 months of 2024, have your radar up because Tax Reassessments are coming! Check assessor website frequently. At some point, we don’t know exactly when, they will release 2024 assessments.

For buyers: Include TBD AI (attorney review)
Get them to commit to 105% or 110%. Advise your client that this is a part of your closing costs that they may not have understood.

For sellers: Make sure clients are aware the longer they wait to sell in 2024, the larger their tax liability will be. 

Reach out to us to do a net sheet that includes all the fees you might not be aware of so your client is well-informed.