Cook County's assessor says a planned retirement home run by Catholic nuns should start paying property taxes. Loyola University has held classes in the building on Chicago's Gold Coast. Now a non-profit Franciscan group is developing high-end senior housing on the site. Cook County Assessor James Houlihan defends the decision to withdraw the property's tax-exempt status. Entry fees to the retirement home start at half-a-million dollars. The president of the non-profit development company says the fees will cover high-quality care and services for Chicago seniors. He says he plans to appeal the assessor's decision.
Dispatches from Chicago's south side.
Monday, October 6, 2008
Cook County Wants to Add Retirement Home to Property Tax Roll
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