Dear Jim,

You are correct that this house is listed for $289,900 and the taxes are $10,700. This home was purchased in 2007 for $635,000. Since taxes in Cook County are paid one year in arrears (this year we pay last years taxes) the tax assessor is using that purchase price as a valuation (along with other properties sold in Lincolnwood during 2007). It will probably be another year before real estate taxes adjust somewhat in line with what values are today. Also, a homeowner has the ability to dispute the taxes. I myself have done so very recently and was successful. I hope this information helps you. If you have other questions, please feel free to contact me.

Sincerely, Irene