About Tax Lien Properties
Tax Lien Property Process in Cook County Illinois
In Cook County, Chicago, the tax lien property process involves several specific steps and time frames leading to the issuance of a tax deed. Here is a general overview of the process:
1. Tax Sale: The annual Cook County Tax Sale typically occurs in May. Delinquent properties with unpaid property taxes are auctioned off to investors who purchase tax certificates for those properties.
2. Redemption Period: After the tax sale, property owners have a redemption period to pay off their
delinquent taxes and any associated fees. In Cook County, the redemption period is typically around two and a half years from the date of the tax sale.
3. Tax Certificate Assignment: If the property owner fails to redeem the tax certificate within the
redemption period, the tax certificate holder may assign their certificate to the Cook County Clerk's
Office. This assignment happens around six months after the expiration of the redemption period.
4. Tax Deed Application: Once the tax certificate is assigned to the County Clerk's Office, the tax
certificate holder can apply for a tax deed. This involves filing an application, paying a fee, and providing necessary documentation.
5. Notice of Application: Within 30 days of filing the tax deed application, the County Clerk's Office will
publish a notice in a local newspaper, notifying interested parties of the pending tax deed application.
The notice includes details about the property and provides a redemption period for interested parties
to pay off the delinquent taxes.
6. Objection Period: Following the publication of the notice, interested parties have a 90-day objection
period to file any objections or redeem the property by paying off the delinquent taxes, interest, and
fees.
7. Tax Deed Auction: If there are no objections or redemptions during the objection period, the tax deed holder can proceed with an auction. The auction typically occurs on the first Monday of any month, except January, in the Cook County Treasurer's Office.
8. Tax Deed Issuance: If no one bids on the property during the auction, the tax deed holder becomes
the owner of the property. The tax deed is issued by the County Clerk's Office, transferring the
ownership from the previous property owner to the tax deed holder.
Please note that the specific time frames and processes may vary slightly, so it's always advisable to
consult with a legal professional or the Cook County Treasurer's Office for the most up-to-date and
accurate information.
We have properties in the last stage of the process right before point 8 of the presented lengthy 2,5 – 3 years procedures. Tax Deed owners are or tax certificate owners are not interested in presenting their data to the public. Properties are released only to trust worthy people working in this area for many years, who are having personal connections with the tax lien certificate owners. Some properties have a tax deed ready, for some it has to be issued 6-10 weeks time frame after initial money invested into the project.
Tax Lien Properties in Cook County Illinois
Who we are looking for ?
Write your texGreetings, everyone! We are experienced investors based in the vibrant city of Chicago, specializing in the intricate world of tax lien property investments. Our focus lies in the acquisition of non-redeemable tax lien properties, followed by meticulous rehabilitation, and ultimately, their sale to discerning retail buyers. Currently, we successfully complete 1 to 2 property transactions each month, but our sights are set on expanding our operations to encompass 3 to 5 properties monthly. We extend a warm invitation to passive investors seeking to diversify their investment portfolio with a lucrative and unique opportunity within the tax lien property niche. Whether you possess a self-directed IRA account or are simply eager to maximize your returns, we welcome your participation. It’s important to note that we are exclusively interested in engaging with principals, not wholesalers or real estate agents. Our tax lien properties are a rare find, often hidden from the public eye and occasionally only surfacing after thorough rehabilitation, typically priced at 10% below their After Repair Value (ARV) to ensure rapid sales. With us, you can anticipate impressive annual returns on your invested capital, ranging from 20% to a remarkable 50%.Here’s how our partnership works: We establish a Limited Liability Company (LLC) together, with you providing a portion of the funds while we secure the necessary resources for property rehabilitation and handle all operational aspects. The property is typically sold within 4 to 6 months, and profits are evenly split, with a standard 50/50 arrangement in most cases. In our quest for excellence, we are actively seeking 20 more qualified investors willing to join forces with us, potentially for multiple ventures over the next 6 months. Please rest assured that the specifics of each deal are shared exclusively with verified investors who can demonstrate their commitment through proof of funds. This is your opportunity to venture into a highly profitable and intriguing domain of real estate investment. Join us as we embark on this exciting journey, redefining the landscape of tax lien property investments together.
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