Friday, March 9, 2018

Chicago, IL – Chris Kennedy didn’t only skirt capital gains tax on the sale of the Merchandise Mart, he openly bragged about it when he closed the deal.

In 1998, Chris Kennedy boasted, “It’s a very attractive capital gains situation right now for a lot of folks.” Forbes describes how it happened: “Thanks to a carefully crafted deal with Vornado Realty, the Kennedy family deferred – or possibly avoided completely – capital gains tax on nearly half the value of the sale.”

“Chris Kennedy proudly skirted taxes when he sold the Merchandise Mart and bragged about it to the press,” said Pritzker campaign spokeswoman Jordan Abudayyeh. “From circumventing affordable housing requirements at Wolf Point to avoiding capital gains tax, Kennedy has consistently put his own bottom line ahead of Illinois’ working families.”

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