Property Tax Incentive Will Support Rehab of Former Cook County Hospital
The $133 million conversion of the former Cook County Hospital Administration Building on the Near West Side into a 210-room hotel will be supported by a Class L property tax incentive approved by City Council today.
CHDG Phase 1A1 Owner LLC will use the incentive to rehabilitate the 345,000- square-foot Beaux Arts structure at 1835 W. Harrison St. into a hotel with complimentary commercial, retail and museum spaces. Planned improvements will include the restoration of lobbies and corridors, new building systems and elevators, terra cotta and brick repairs, new roofing, windows and storefronts to match the building’s historic configuration, and new metal cladding on the south facade.
Completed in 1914, the eight-story building was designed by architect Paul Gerhardt and is listed on the National Register of Historic Places. It was designated an official Chicago landmark in January of this year.
The Class L incentive, which encourages the preservation and rehabilitation of landmark properties, will lower the cost of property taxes over a 12-year period by an estimated $19.4 million. The development will support up to 200 temporary construction jobs and 175 permanent positions once fully occupied.
Currently underway, the project is expected to be completed by the spring of 2020.
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