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Patrick Lismon
  • Investor
  • Bowling Green, KY
22
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72
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Cook County Class 9 (AHSAP) Transfer Mechanics - Filing Timing Question

Patrick Lismon
  • Investor
  • Bowling Green, KY
Posted

Hey Chicago investors -

I have a specific question regarding the Cook County AHSAP (Affordable Housing Special Assessment Program).

I am under contract on a building in Phoenix, IL, that just received its formal AHSAP approval letter (25% AV reduction) from the Assessor. The letter states the status is valid through 2033, provided compliance is maintained.

My technical question: When taking title, does the 'Change of Ownership' affidavit need to be filed with the county before funding, or is it standard practice for the title company to record it simultaneously with the deed?

I am trying to avoid a situation where the sale triggers an automatic reassessment/reset before the new entity is recognized by the program. Has anyone navigated this specific transfer recently?

Thanks