For example, if the current fair market value (according to the cook county assessor's website) is $200,000 and you buy it at $400,000 and you're only factoring the old tax bill (check on cook county treasurer website), your tax bill could double (or triple because cook county), taking it from an 8% to a negative 8% return very quickly.

The city would have to seize the property and then it would go up in a Treasurer's sale.

@Nick Liu, Stable rentors are a treasure to be protected. 

Feel free to jump in the community here and also take advantage of the treasure of knowledge here.

Feel free to jump in the community here and also take advantage of the treasure of knowledge here.

Feel free to jump in the community here and also take advantage of the treasure of knowledge here.

Feel free to jump in the community here and also take advantage of the treasure of knowledge here.

Feel free to jump in the community here and also take advantage of the treasure of knowledge here.

There is a treasure trove of information.Your surrounded with like minded people, learning and sharing about various aspects of real estate and more.See you at the top!

I would just be sure by calling the county treasurer.