Assessor's Office Publishes Policies on Demolition and New Construction

The Cook County Assessor's Office has added two webpages that offer guidance on existing valuation policies governing demolition and properties under construction. 

Access the policies here: 

Demolition and Unimproved Real Estate

This webpage explains the definition of unimproved real estate (1-00 class), and how the CCAO assesses property that is transitioning from a commercial or industrial property to unimproved real estate (demolition of commercial or industrial improvements). 

Properties Under Construction 

This webpage explains the CCAO's approach to estimating the fair market value of properties that are under construction.