Property Tax Incentive Will Support New Industrial Complex in Little Village
A Class 6(b) property tax incentive approved today by City Council will support the construction of a $100 million industrial warehouse on the former Crawford Station power plant site in Little Village.
The incentive will help Hilco Redevelopment Partners to demolish the shuttered power plant at 3501 S. Pulaski Road and complete environmental remediation work on the 70-acre site, which had been used for coal-fired power generation from 1924 to 2012.
The 1 million-square-foot project will include up to 112 loading docks for one or more tenants that may include e-commerce companies, merchandise distributors or data center operators. More than 165 full-time workers could occupy the building, depending on the use.
Site improvements will include new pedestrian and bike-friendly improvements along Pulaski; extensive landscaping that includes more than 600 trees; infrastructure for electric trucks, cars and solar panels; traffic signal improvements; and other enhancements. Parking for 315 trailer parking spaces and 338 cars will be available on site.
The Cook County Class 6(b) incentive encourages industrial development by providing reduced property tax rates for qualifying rehabilitation and construction projects. Total savings over the 12- year incentive period are estimated at $19.7 million.
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