In a recent property tax study commissioned by Cook County Treasurer Maria Pappas, the Chicago home that saw the greatest percentage increase during the last two decades is a spacious, ritzy condo near Lake Shore Drive and Oak Street.

The owners of the three-bedroom, three-and-a-half bath condo with a terrace had an annual property tax bill of $2,199 in 1999. That bill rose to $47,782 by 2019, an increase of 2,073%. During that same period, the cost of living rose by roughly 36%.

Coincidentally, or not, right around the time Pappas released her study last fall, the owners of that condo put it on the market, where it has remained, unsold. Who wants to pick up a mortgage and a property tax bill of nearly $4,000 a month?

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