Willis Tower, Water Tower Place and some large suburban shopping malls have yet to pay their second installment property taxes, taking advantage of a two-month waiver of late fees enacted because of the pandemic, Crain's Chicago Business reports.

Treasurer Pappas said she believes the failure to pay now is a sign that many commercial operators face a real cash crunch, because their tenants - office users and stores - aren't paying their rents on time.

"These numbers say there's a crack in the dam with regard to the commercial and business community" she said. "I believe in many cases their tenants aren't paying. We will know more on Oct. 1."

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