Property Tax Incentive Proposed for South Side Renovation Project

July 20, 2022


A property tax incentive introduced to City Council today by Mayor Lori E. Lightfoot would enable a building renovation project in Roseland.

The $889,205 Hickman and Harrison Group project at 517 W. 111th St. would use a Class 7(a) inventive to renovate a 3,500-square-foot building as modern offices. Property tax savings are estimated at $129,086 over the 12-year term.

The 7(a) tax incentive program is administered by Cook County in cooperation with local municipalities to help revitalize vacant and underutilized commercial and industrial properties.

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