TIF Approved For Hillshire Brands Headquarters Project
The City Council today approved up to $6.5 million Tax Increment Financing that will support the relocation of Hillshire Brands from the suburbs to the West Loop.
Formerly known as Sara Lee, Hillshire Brands produces packaged-meats under the Hillshire Farm, Jimmy Dean, and Ballpark brand names, among others. The funds would partly reimburse the company for its $30.1 million build-out of 220,000 square feet of office space at 400 S. Jefferson St., where it will relocate 500 jobs from Downers Grove and create up to 150 new positions.
“This project will revitalize an underutilized building, add a new corporate presence to the West Loop, and reinforce Chicago’s historic role as a center for food-related business,” Mayor Rahm Emanuel said.
The building, designed by noted architect Alfred Alschuler, dates to 1946. Over the years, it was primarily used for printing and distribution purposes but has more recently been characterized by high vacancy rates.
The first Hillshire Brands employees are expected to relocate in early 2013. Up to 120 temporary construction workers have already started work on the project.
# # #