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Chicago & Midwest  + Downtown  + Finance  | 
IMC has expanded its office lease at EQ Office's Willis Tower to 160,000 square feet

Cook County Unveils Tool to Calculate Property’s Government Debt

Cook County property owners for the first time can find out what portion of local government debt falls on them, courtesy of an online tool created by Cook County Treasurer Maria Pappas. It’s accessible by clicking here.

“Most reports identify government debt as an amount per person,” Pappas said. “My latest study takes a more targeted approach by showing debt in relation to each property in Cook County.”

For example, the tool reveals that Willis Tower carries local government debt of nearly $289 million, or 41.5% of the tower’s $697-million value. A Riverdale house carries $31,800 in local debt, equal to 48% of its $67,000 value. And a house in Hodgkins has $127,400 in debt, equal to 25.7% of its $496,000 value.In contrast, the debt on properties in more affluent, lower-tax areas, like Barrington Hills and Winnetka, falls below 10% of the value of the properties.

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Treasurer Pappas

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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