Will real estate biz put money on the line to challenge Kaegi?
Walk into the office of any big-name developer or property tax attorney in Chicago, and you might not be surprised to see something like this: a picture of Cook County Assessor Fritz Kaegi, pasted onto a dart board -- with a couple of darts sticking into his nose.
Kaegi is the guy Chicago's real estate community loves to hate. He's been busily jacking up commercial assessments 50% and more even as COVID keeps office towers and retail complexes empty, thereby shifting hundreds of millions of dollars in taxes from homeowners to business at a time when there is some real carnage in the market.
So, are they going to do anything about it as Kaegi faces voters again in the June Democratic primary? Maybe, or maybe not. Perhaps the developers have lost their nerve now that they no longer have real estate attorneys like ex-Illinois House Speaker Mike Madigan and indicted Ald. Ed Burke, 14th, in position to watch their back. Or maybe they'll eventually belly up to the bar.