Willis Tower Paid $28M In Property Taxes In 2016

Willis Tower, Chicago
Photo credit: Chuck Sudo/Bisnow
Willis Tower

The skyscraper that is the crown jewel of the downtown skyline has the largest tax bill in Cook County. Blackstone Group paid over $28M in property taxes last year, according to a new report from CommercialCafé on the top 10 property tax bills in Chicago.

Willis was charged $28.45M in 2016, a 7% jump over 2015. It is the only building to have exceeded the $20M mark in Chicago and the top building outside of New York City. Despite the size of the bill, Willis only placed 28th on CommercialCafé's top 100 list.

In second place on the list is 300 East Randolph with a $19M tax bill. The Blue Cross Blue Shield Building saw the largest hike in its property taxes over 2015 with a 16% increase. Loop office buildings comprise nine of the 10 buildings on the list. The outlier is Water Tower Place. The shopping center landed third on the list with a $16.5M property tax bill and the second-highest jump over 2015 with an 11% increase.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories

JVP Development Is Betting $37M Of Its Own Money That Frisco Is Ready For Spec Office

Hedge Fund Bids $88M For Spirit Airlines' Former HQ

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

Oyster Point's Second Phase Half-Leased As Kilroy Navigates Soft Lab Demand

BXP Closes In On Next D.C. Office Development As It Shrinks Assets

Clarion Under Contract To Sell 18-Story Seaport Office Tower

Oil Company Expands Again At Cash Register Building

BXP's 343 Madison Lands $1.2B Loan, Nears Deal With Equity Partner

D.C. Sues To Block HUD Headquarters Move To Virginia

Ken Griffin Completes Takeover Of Brickell Block, Setting Stage For $2.5B Megaproject

Private Equity Firm Buys Former Texas Instruments Campus For New Headquarters

DFW Office Footprints Likely To Shrink As AI Use Increases And Companies Battle For Talent