If the worst case scenario were to happen, what would you rather own? Mr. Behar declines to specify how a lot the firm believes taxes will rise but says it is building such figures into its calculations for costs and projected income development. The appetite for Chicago-location genuine estate is driven in component by a lack of yield-generating alternatives. At the worst of the market (January, 2009), there was over a year’s worth of residences for sale.
Earlier this year, the Emanuel administration called for boosting home taxes by $750 million more than five years as portion of a pension deal it struck with city workers outside Team Bowers of the police and fire departments. Investors and landlords either can spend the greater taxes straight or pass them along to tenants by negotiating so-known as net leases.
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