Cook County Treasurer Maria Pappas said that 96 percent of county property owners paid on time, but others are holding off, Crain’s reported.

Jewelry Tower, a part owner of the struggling Pittsfield Building at 55 East Washington Street still owes $3.71 million, the largest unpaid tax bill in the county, according to Pappas. The owner of the building at 140 East Walton Place, which contains The Drake Hotel, owes $1.13 million while the owners of the Leo Burnett building — which recently became the New York-based companies of investors Shaya Prager and Katherine Cartagena — owes $1.42 million.

“I think a lot of people on the list can afford to pay. They just don’t,” Pappas said. Those who pay late face a 1.5 percent monthly penalty on the amount due for late payment.

source: therealdeal

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