Counties across the Chicago-area have been offering homeowners extra time to pay their property taxes, but what about bigger buildings?
Commercial real estate has been hit hard by the pandemic, with little relief in sight.
“If you walk into a hotel right now and say, ‘what is your occupancy rate,’ they will tell you, ‘we were going back up but everyone canceled for the weekend’ because there is no place for them to come into the city,” said Cook County Treasurer Maria Pappas.
Pappas said commercial businesses, like hotels and strip malls, are hurting badly. She knows because she said they are the main source of delinquent property taxes.
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