“Our property taxes went from $12,500 to $19,200 over the course of six years on this Norwood Park commercial property. And we’ve been losing money every year charging lower rent to accommodate for the property taxes.
“We fight it every year, but $19,000 is the best we’ll get here. Can’t do it anymore, it’s not feasible. I’ll have to demo this building and sell the lot. In the end, that’s not good for us, not good for the city and not good for the community.
“I manage the properties, my father owns them. We have another property over in the Near West Side near Roosevelt and Ashland, a small strip mall. In 2013 we paid $32,000 in commercial property tax – $44,000 in 2017. Taxes skyrocketed, over $10,000 in four years. We didn’t even make that much [in those four years].
“At the strip mall, we help provide employment for 15 or 20 families. We make a little something off it. But the only one bringing in piles of money is the city.
“I’m not linked in [with the politicians], I’m not in with anyone that will watch my back. I just have to take it.”
Property Manager, P&N Building, LLC
Norwood Park, Chicago