When the Chicago property tax was made official, the lines were blurry as to who would be most impacted. The Cook County Assessor has made it very clear that the area surrounding Halsted and Division will get hit the hardest, which is hardly surprising.
The North Branch/Goose Island region, formerly part of Cabrini Green, is in the midst of getting brand new amenities, most notably the New City development that opened its doors a few months ago. The massive mixed-use development is home to a variety of restaurants, a movie theater, Dick’s Sporting Goods, Marianos and apartment buildings.
The neighborhood was assessed to have its property taxes rise by more than 48 percent this year. Known as the North Township 013, the neighborhood is one of 184 that is slated to see a big uptick. Other areas include the East Village and parts of Streeterville and River North.
The swath of land north of Division on Halsted St. has gone from largely industrial to high-end apartment and condo buildings and townhomes. The retail sector in this neighborhood, spurred by the Whole Foods on Kingsbury, has also been booming in the past five years or so.
