A while ago I wrote a posting discussing the potential loss of the Cook County Home Owners exemption. If that discount does go away as is being discussed that the homes should be sold at market costs to an LLC and then rented out, most likely to the previous owners.
This idea was popular with quite a few clients and several will be going forward if the exemption goes away.
From a tax perspective it has the potential of saving some real tax dollars. Contact our office to discuss the possibilities.