The issue is that he was trying to lock in a 99 year lease on lakefront land for only $10. If Chicago wants to incentivize high value property improvements and

The issue is that he was trying to lock in a 99 year lease on lakefront land for only $10. If Chicago wants to incentivize high value property improvements and minimize flat \ single-story parking facilities, they would get rid of sales, earning, and real estate tax and charge a location-rate property tax on the unimproved value of land reassessed at a floating rate annually.