November 13, 2019

Property Tax Incentives Proposed for Three Commercial and Industrial Projects

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Property tax incentives introduced today to City Council by Mayor Lori E. Lightfoot would support a trio of industrial and commercial redevelopment projects on the South and Southwest sides.

Griffith Food Inc., 4300 S. Morgan St.
A Class 6(b) tax incentive would support the $3.9 million rehabilitation of an 84,174-square-foot industrial building in the Stockyard Industrial Corridor by Griffith Foods Inc., which makes customized seasonings, coatings, and sauces for the food industry. The work would include improvements to building’s electric, mechanical and HVAC systems and enable the hire of up to 12 new positions. The company would also relocate a portion of its operations from Canada over the next two years. Tax savings over the 12-year period are estimated at $560,000.

Sangamon Industrial LLC, 9206-20 S. Sangamon St./901 W. 91st St.
A Class 6(b) incentive would support the $850,000 acquisition and rehabilitation of eight adjacent industrial buildings in Washington Heights by Sangamon Industrial LLC. The work would include upgrades to the buildings’ facades, roofs, windows, mechanical systems and office spaces, and help seven existing tenants to add 90 new positions to 115 current positions. Savings over the 12-year period are estimated at $2.1 million.

Gentner LLC, 2847 W. 47th Place
A Class 6(b) incentive would enable the $1.3 million rehabilitation of a Brighton Park Industrial Corridor building for continued use as a custom furniture factory. The renovations to the 40,000-square-foot facility would include improvements to its roof and facade, among other features, enabling Gentner Fabrication Inc. to retain 19 jobs and add 10 new positions. Tax savings over the 12-year period are estimated at $443,000.

 

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