Dan Ganzer, Chairperson, Village of Lemont Heritage Corridor & Outdoor Recreation Commission | Linkedin
Dan Ganzer, Chairperson, Village of Lemont Heritage Corridor & Outdoor Recreation Commission | Linkedin
During 2023, the latest valuation data available, the city recorded a total of 16 commercial property valuations, culminating in a median property valuation of $64,294. Data shows this is a 38.5% decrease from the 26 registered in the previous year.
In 2023, the commercial property with the highest valuation in Oak Park was located at 18 Chicago Ave, valued at $168,210. The second and third highest valuations were at 6149 NORTH AVE and 811 Garfield St, valued at $104,727 and $83,483, respectively.
Cook County faced a 9.4% decrease in commercial property taxes in 2021, with the 2023 median property valuation of $58,999 serving as a guideline.
Property tax assessments in South suburban Cook County have skyrocketed, with some homeowners facing increases up to 650%. This has led to widespread concern, as articulated by Jami Flaws from Lyons Township, who fears such hikes will force many from their homes. Residents say the tax assessment increases don't match the market values of their homes.
"We probably won't be able to sell our homes because they aren't even close to what the assessment says," Flaws said.
Due to privacy and security concerns, some addresses were not fully disclosed.
For accurate comparisons, property valuations prior to 2023 have been adjusted using average CPI inflation to reflect 2023 dollars.
This story was found on BlockShopper.
| City | Median Valuation (2023) | Median Valuation (2022) | Assessment Change % | Property Tax Change % |
|---|---|---|---|---|
| Schiller Park | $609,900 | $106,170 | 474.5% | 278.5% |
| Elk Grove Village | $942,962 | $186,795 | 404.8% | 538.8% |
| Glenwood | $182,767 | $41,450 | 340.9% | 319.8% |
| Broadview | $105,222 | $24,955 | 321.6% | 68.4% |
| Winnetka | $198,234 | $50,764 | 290.5% | 251.2% |
| Harwood Heights | $232,389 | $64,840 | 258.4% | 252.5% |
| La Grange Park | $66,513 | $18,877 | 252.3% | 2,041.8% |
| South Holland | $109,282 | $31,375 | 248.3% | 69% |
| Stone Park | $55,241 | $17,499 | 215.7% | 157.1% |
| Park Ridge | $314,444 | $101,066 | 211.1% | 102.6% |
| Robbins | $41,574 | $14,078 | 195.3% | 534.2% |
| Brookfield | $37,957 | $13,215 | 187.2% | -2.5% |
| Arlington Heights | $371,266 | $139,408 | 166.3% | 67.5% |
| Western Springs | $78,970 | $29,948 | 163.7% | 159.1% |
| Countryside | $135,532 | $51,870 | 161.3% | 126.5% |
| Stickney | $90,206 | $37,606 | 139.9% | 177.9% |
| Sauk Village | $87,013 | $38,694 | 124.9% | 70.1% |
| Oak Forest | $113,749 | $52,619 | 116.2% | -32.1% |
| Buffalo Grove | $692,550 | $331,062 | 109.2% | 103.5% |
| Northbrook | $124,993 | $60,990 | 104.9% | 86.8% |
| Lynwood | $88,789 | $43,968 | 101.9% | 43.3% |
| Crestwood | $138,801 | $79,411 | 74.8% | 320.2% |
| Blue Island | $45,752 | $26,971 | 69.6% | -3.7% |
| Matteson | $140,982 | $84,916 | 66% | 37% |
| South Barrington | $220,832 | $135,374 | 63.1% | 84.1% |
| Markham | $114,000 | $69,922 | 63% | 88.1% |
| Burbank | $78,626 | $51,072 | 54% | 0.5% |
| Hillside | $40,064 | $26,263 | 52.5% | 64.7% |
| Rolling Meadows | $164,800 | $109,268 | 50.8% | 2,854.5% |
| Elmwood Park | $74,024 | $51,786 | 42.9% | 78.3% |
| Harvey | $25,428 | $18,844 | 34.9% | 21.8% |
| River Grove | $24,747 | $18,842 | 31.3% | -15.1% |
| Berkeley | $47,363 | $36,498 | 29.8% | 29.2% |
| Hanover Park | $145,407 | $112,802 | 28.9% | -42% |
| Bridgeview | $165,969 | $133,103 | 24.7% | -48.5% |
| Skokie | $118,772 | $95,496 | 24.4% | 1% |
| Oak Lawn | $80,396 | $67,158 | 19.7% | 230.3% |
| Bartlett | $99,602 | $88,492 | 12.6% | -19.7% |
| Riverdale | $43,586 | $39,000 | 11.8% | 49.8% |
| Morton Grove | $164,146 | $147,677 | 11.2% | -12.5% |
| Des Plaines | $112,754 | $103,767 | 8.7% | -18.8% |
| Willow Springs | $51,185 | $47,869 | 6.9% | 6.9% |
| Chicago Ridge | $86,372 | $81,482 | 6% | -15.5% |
| La Grange | $117,015 | $111,507 | 4.9% | 32.2% |
| Worth | $68,894 | $68,047 | 1.2% | -51.4% |
| Chicago Heights | $39,842 | $39,406 | 1.1% | -53% |
| Hickory Hills | $74,001 | $73,993 | 0% | 15.2% |
| Merrionette Park | $72,397 | $72,397 | 0% | 0% |
| Lake Park Estates | $68,810 | $68,810 | 0% | 0% |
| Flossmoor | $74,824 | $74,790 | 0% | -48.5% |
| Wilmette | $101,771 | $103,740 | -1.9% | -10.2% |
| Franklin Park | $58,871 | $60,419 | -2.6% | 33.4% |
| Mount Prospect | $156,843 | $161,968 | -3.2% | 28.1% |
| Alsip | $93,323 | $97,381 | -4.2% | 3.7% |
| Palos Heights | $102,365 | $106,937 | -4.3% | 217.6% |
| Chicago | $66,770 | $73,197 | -8.8% | -21.9% |
| Prospect Heights | $54,209 | $60,847 | -10.9% | -82.2% |
| Inverness | $64,195 | $72,111 | -11% | -11% |
| Oak Park | $73,295 | $83,429 | -12.1% | -30.6% |
| Maywood | $42,255 | $48,735 | -13.3% | 28% |
| Midlothian | $50,330 | $58,386 | -13.8% | 23.9% |
| Summit | $46,447 | $54,440 | -14.7% | -18.7% |
| Forest Park | $69,127 | $81,031 | -14.7% | -48.9% |
| Palos Hills | $109,875 | $129,662 | -15.3% | 21% |
| Schaumburg | $237,990 | $281,581 | -15.5% | 52.9% |
| Calumet Park | $34,882 | $41,300 | -15.5% | -4.6% |
| Berwyn | $49,941 | $59,141 | -15.6% | -39.6% |
| Barrington | $71,820 | $89,775 | -20% | -52.4% |
| Evergreen Park | $45,659 | $59,422 | -23.2% | -19.7% |
| Cicero | $38,475 | $50,357 | -23.6% | -42.4% |
| Dolton | $28,595 | $37,875 | -24.5% | 14.9% |
| Lemont | $56,221 | $76,387 | -26.4% | -13.8% |
| Homewood | $61,402 | $86,328 | -28.9% | 178.7% |
| Melrose Park | $66,548 | $95,087 | -30% | -67.9% |
| Elgin | $57,000 | $84,915 | -32.9% | -26.8% |
| Norridge | $65,559 | $98,040 | -33.1% | -58.5% |
| Lincolnwood | $113,438 | $176,242 | -35.6% | -23.6% |
| Northfield | $98,935 | $159,134 | -37.8% | -34.3% |
| Lyons | $32,124 | $56,918 | -43.6% | -53.4% |
| Wheeling | $104,264 | $185,818 | -43.9% | -49.5% |
| Glenview | $117,971 | $212,578 | -44.5% | -79.9% |
| Lansing | $32,701 | $63,078 | -48.2% | -55.9% |
| Palatine | $78,090 | $152,381 | -48.8% | -83.6% |
| Tinley Park | $34,910 | $69,034 | -49.4% | -71.7% |
| Northlake | $29,134 | $57,645 | -49.5% | -57% |
| Evanston | $85,035 | $176,369 | -51.8% | -33.1% |
| Posen | $31,308 | $67,386 | -53.5% | -56.1% |
| Glencoe | $183,787 | $450,523 | -59.2% | -59.2% |
| Hazel Crest | $59,067 | $175,244 | -66.3% | -66.1% |
| Calumet City | $15,347 | $48,583 | -68.4% | -70% |
| Niles | $62,776 | $200,904 | -68.8% | -85.7% |
| Country Club Hills | $137,397 | $450,891 | -69.5% | -65.2% |
| Justice | $17,086 | $56,802 | -69.9% | -66.3% |
| Orland Park | $53,912 | $185,744 | -71% | -22.3% |
| Bellwood | $14,973 | $63,549 | -76.4% | -76.5% |
| Thornton | $17,960 | $79,076 | -77.3% | -76.6% |
| Westchester | $32,368 | $150,656 | -78.5% | -86.3% |
| Streamwood | $61,560 | $291,961 | -78.9% | -78.1% |
| Steger | $30,372 | $163,826 | -81.5% | -21.7% |
| Rosemont | $49,576 | $602,316 | -91.8% | -51.7% |
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