Quote of the day, October 17
Quote of the day, October 17
Warning signal: High-end home sales slow to a crawl in Chicago suburbs
Warning signal: High-end home sales slow to a crawl in Chicago suburbs
“Not totally dead” yet In the Chicago suburbs of Burr Ridge, Naperville and Hinsdale this summer, sales of high-end real estate hit a huge slump, which continues. For example, Crain’s Chicago Business reports the city of Burr Ridge has 100 homes on the market priced at $1 million or higher, but only 14 have sold...
Meet the politicians getting rich off Chicago’s property-tax scheme
Meet the politicians getting rich off Chicago’s property-tax scheme
Flawed property valuations and the process required to fix them are a cash cow for law firms, including those of House Speaker Mike Madigan, Chicago Alderman Ed Burke and Illinois Senate President John Cullerton.
Quote of the day, October 16
Quote of the day, October 16
Cook County plans to hike taxes on bowling, golf and cable TV
Cook County plans to hike taxes on bowling, golf and cable TV
“Pay to play” might take on a whole new meaning in Chicago.
Illinois’ budget crunch: No cash for pensions
Illinois’ budget crunch: No cash for pensions
Illinois Comptroller Leslie Munger announced the state will delay a $560 million pension payment as the state’s government-pension-driven fiscal crisis worsens.
Quote of the day, October 15
Quote of the day, October 15
Win more than $600 in the Illinois Lottery? You get an IOU
Win more than $600 in the Illinois Lottery? You get an IOU
The state budget impasse is having increasingly embarrassing consequences.
Job Varghese
Job Varghese
“Our family came to this country for opportunity, but I find myself discouraging my son from working at our business here. “Property taxes are killing us. Usually your mortgage is your biggest expense, but when your property tax is more than the mortgage, where are you standing? “We’re paying $220,000 a year in property taxes....
Marty Flaska
Marty Flaska
“I love this city. But if we can keep an extra $2 million [per year] in our family businesses by moving 15 miles away, why wouldn’t we? “If I didn’t have the workers’ compensation issue and the [property-tax] issue, I probably never would have even considered moving. Why would I?” Marty Flaska President and CEO...
Jesse Huerta
Jesse Huerta
“I feel bad for the working man because they’re the ones who are going to suffer. Those are families being ruined. You know … I look at everything as a family. When you go to work you’re not working for yourself, you’re working for your family. That’s why we work: to better ourselves, to better...
Company founded by political insiders received over $22 million from Illinois in vendor late fees
Company founded by political insiders received over $22 million from Illinois in vendor late fees
The state of Illinois has paid $611 million in late fees to vendors. Political insiders who have donated to some of the state’s most powerful elected officials are reaping the benefits.
Peter Brunk
Peter Brunk
“We’re paying 4% of our home’s value in property taxes. This is a $247,000 house with $9,800 in property taxes. “So we’ll have paid the entire value of our house in property taxes in 25 years, assuming there’s no increase. “I’ve done my research. There’s a home right on the ocean in beautiful Bokeelia, Florida,...
Dana Sanzeri
Dana Sanzeri
“I was paying $6,000 in property taxes on this house I bought for $52,500. Now it’s $6,000 on a hole in the ground. ”I have friends having kids and I always ask ‘How can you afford it?’ I can barely afford a dog and myself. I have friends in Michigan who are managers at Applebee’s,...