Property Tax Incentive to Support Construction of Fuller Park Industrial Facility
Department of Planning and Development 312.744.9267
A $40.2 million industrial warehouse would be constructed in Fuller Park with support from a Cook County Class 6(b) property tax incentive proposed to City Council today by Mayor Brandon Johnson.
The 180,900-square-foot building proposed by the Missner Group at 328 W. 40th St. would include 35 loading docks and parking for 38 trucks, plus 176 parking spaces for workers and visitors. Tenants have yet to be identified but the 12.4-acre project is expected to employ up to 100 people when fully occupied.
Total tax savings over the 12-year incentive period are estimated at $1.25 million.
The site was previously occupied by multiple dilapidated industrial structures.
The Class 6(b) incentive encourages the redevelopment and rehabilitation of underutilized commercial and industrial properties.