In our most substantial reduction to date, secured in November of last year, we successfully appealed the assessed fair market value of a 757,000-square-foot industrial warehouse, reducing it from $124 million to $44 million. This resulted in an estimated $8 million in property tax savings for our client.
For a 16-story, 244,961-square-foot office building located in downtown Chicago, we achieved an assessment reduction that has translated into approximately $2 million in annual property tax savings, sustained over multiple years.
We also secured an assessment reduction for a 215-room hotel in downtown Chicago, resulting in approximately $2 million in annual property tax savings for the client over several years.
