70 ILCS 1830/4

(70 ILCS 1830/4) (from Ch. 19, par. 504) Sec. 4. All property of every kind owned by the Port District shall be exempt from taxation, provided that a tax may be levied upon a lessee of the Port District by reason of the value of a leasehold estate separate and apart from the fee simple title, or upon such improvements as are constructed and owned by others than the Port District. (Source: Laws 1965, p. 1013.)