Comment on Cook County property tax incentive taken advantage of by hundreds of landlords annually aims to boost affordable housing

Cook County property tax incentive taken advantage of by hundreds of landlords annually aims to boost affordable housing

Hundreds of Cook County landlords each year are taking advantage of a property tax incentive designed to preserve and create affordable housing. The participating landlords are spread throughout Chicago and nearby suburbs, with the densest concentrations on the city’s South and West sides, especially neighborhoods considered ripe for gentrification such as South Shore. Some property owners, concerned about getting ensnared in a bureaucratic maze, were initially hesitant to join the program, but now say the incentives help keep units affordable and pay for needed renovations. “I didn’t apply the first year it came out because the whole program seemed confusing, but it wasn’t that bad,” said Jon Womack, managing partner of Third City Properties.

 

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