Tax Incentive Proposed for Cold Storage Facility in McKinley Park

June 21, 2023

Department of Planning and Development    312-744-9267

A $28 million cold storage facility would be constructed in McKinley Park through a Cook County Class 6(b) property tax incentive introduced to City Council today by Mayor Brandon Johnson.

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

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