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Chicago CRE Professionals Have Great Concerns About Government’s Effectiveness
A report by The Real Estate Center at DePaul University shows the presence of significant concerns about the effectiveness of government officials at the local, city, state level, including the Cook County Assessor. These concerns arise even as approximately 60% of Chicago real estate professionals consider themselves bullish or optimistic about the marketplace.
Chicago CRE professionals ranked their concern with the effectiveness of government officials, on a scale of 1 (little concern) to 5 (great concern). The greatest concerns start with the City of Chicago, at 4.33. But the second and third concerns were very close behind, with the uncertainty of the Cook County property taxes at 4.27 and the effectiveness of state government rated at 4.24.
“We have crime issues which out-of-state investors hate,” said Levenfeld Perlstein partner Tom Jaros. “And we’ve got fiscal issues at the state and local levels — which all investors find difficult to predict.”
- ◦Policy/Gov't
