Property Tax Incentives Approved for Three Commercial and Industrial Projects
Property tax incentives approved today by City Council will 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 will 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 will include improvements to building’s electric, mechanical and HVAC systems and enable the hire of up to 12 new positions. The company will 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 will support the $850,000 acquisition and rehabilitation of eight adjacent industrial buildings in Washington Heights by Sangamon Industrial LLC. The work will 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. Tax savings over the 12-year period are estimated at $2.1 million.
Gentner LLC, 2847 W. 47th Place
A Class 6(b) incentive will 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 will include improvements to its roof and facade, 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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