Remove the corn from the cob. DO NOT throw out the cobs. Save them! Dice the shallots, carrots, and pepper. Heat up a large pot over medium high heat. Add in the butter.
Add in corn, carrots, shallots, and peppers. Cook until softened about 10 minutes. Stir frequently.
Remove the vegetables from the pot.
Add just enough water to cover the bottom of the pot. With a spatula scrap any brown bites that stuck to the bottom of the pot.
Add the cobs to the pot. Add enough water to cover the cobs.
Bring to a boil. Reduce to simmer and cook for 30 minutes.
Discard the cobs.
Add in the potatoes. Bring back to a boil, then simmer until the potatoes are fork tender.
Add back in the corn, carrots, peppers, and shallots. If using, add in the dill. Add kosher salt to taste. Add heavy cream to taste.