On Monday night, CBS Chicago reported a story that included audio and text stating the following:
“Over 20 acres of tree-lined property nestled in affluent Barrington Hills feature tennis courts and a sprawling home purchased by Terrance Wallace, the InZone Project founder.” (InZone Project Founder Says He’s Been Hit With Red Tape In Efforts To Bring Black And Brown Boys From Chicago To Live In Barrington Hills Mansion.)
There is no recorded public record of a recent sale of the property on 541 Merri Oaks Road. Public records do indicate that the property is currently owned by a Trust and has been under the ownership of the Trust or related parties since 2002.
Public records indicate that 2019 Real Estate Taxes were approximately $32,000, down from approximately $50,000 for 2018, and in both years, a homeowner’s exemption of $6,000 was taken. (Note: To take a general homestead exemption in Lake County, IL, the Property must be the principal residence of the owner as of the first of the year in which the exemption is claimed and this exemption can only be received on one property.)
If Mr. Wallace has other financial arrangements with the owner, it is not available in public records we can find.
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