There is a district in North Chicago that has recently received a 48 percent property tax hike due to a raise that the Mayor Rahm Emanuel has enacted. The main area that will be affected the most by this property tax hike is near the intersection of Halstead and Division streets.
The City Council of Chicago all decided that it would be best to raise the property taxes of this specific area because of the high value of the homes in this area. If people are more willing to pay more money to live in a certain area of town, the local government is probably going to increase the property tax, so what Rahm Emanuel did is absolutely nothing out of the ordinary. Unfortunately, this does not mean that none of the residents are not upset.
Mr. Majeed Ekbal is a popular, well-established real estate investor that has many different properties across Chicago. Some of them have been affected by this price hike, but it will not bother his business much, if any at all. Mr. Ekbal used to have a business called Expresso, where he first got his start by running a service where people would go to the store to buy groceries without the client having to leave the house. This business was very successful, but Mr. Ekbal had a passion for real estate, so he decided to choose that path.
Expresso operated throughout Chicago, and only charged either five or ten dollars for the employees to get whatever type of food, drink, or other type of good the customer needed. Mr. Majeed Ekbal has blossomed into a fine real estate investor, one of the most popular real estate players in Chicago. Ekbal can be found on many social media platforms, including vimeo.
The property tax is expected to mainly affect those with more expensive homes. Most of the homes in the affected area are under a quarter of a million dollars when they were purchased, leaving them practically unscathed.