A Mayoral plan approved today by City Council under the guidance of Alderman Ray Suarez will establish a tax incentive certification to support the mixed-use redevelopment of the former Marshall Field’s Warehouse campus in Avondale.

"The redevelopment of the former Marshall Field Warehouse and the investments being made today by City Council will not only create over 1,000 new jobs but allow this project to become an economic anchor for the entire Northwest side in the years to come,' said Alderman Suarez.

The Class 8 area certification will provide expedited approvals on future Class 8 and Class 6(b) tax incentive applications by individual tenants that occupy the 22.5-acre property at 4000 W. Diversey Ave. The certification will continue for five years.

The 1.6 million-square-foot campus was used as a regional distribution center most recently by Macy’s Inc., which acquired the property in its takeover of Field’s in 2005. The complex closed in 2008.

It is currently undergoing a $60 million rehabilitation for new industrial and commercial uses by 4K Diversey Partners LLC, which bought the complex earlier this year for $7 million. Simultaneously today, City Council approved a Class 6(b) property tax incentive for two buildings on the site.

A 103,000-square-foot building at 4029 W. George St. will be rehabilitated for Newly Weds Foods, a producer of food coatings, seasonings and other ingredients for the foodservice industry. The project will create 20 additional jobs onsite and 50 manufacturing jobs at a nearby location, which will be converted into production space. The company will save an estimated $485,000 in property taxes over the next 12 years through the incentive.

A 65,000-square-foot building at 4141 W. George St. will be rehabilitated for Studio 41, a manufacturer and distributor of windows and home design products. The project will result in 20 new jobs that will support production lines operated by the company at a nearby location. Total tax savings are estimated at $291,000 over the next 12 years.

# # #