Tax Incentive Approved for McKinley Park Cold Storage Facility

July 19, 2023

Department of Planning and Development    312.744.9267

A $28 million cold storage facility will be constructed in McKinley Park with the assistance of a Cook County Class 6(b) property tax incentive approved by City Council today.

Planned for the site of an obsolete industrial building at 3815 S. Ashland Ave. by Karis Real Estate, the 97,000-square-foot building will have 15 loading bays with exterior parking for 12 semi-trucks and 48 cars. No tenants have been identified, but the project is intended to cater to the increasing demand for cold storage space by online food vendors and restaurants. The facility will support up to 65 full- and part time jobs when fully occupied.

The incentive will reduce taxes on the property by approximately $4.1 million over the next 12 years.


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