Property tax incentives approved today by City Council will support a trio of commercial and industrial redevelopment projects on the West, Southwest and Far South sides.

Fillmore LLC, 1034 S. Kostner Ave.
A Class 6(b) incentive for Fillmore LLC on behalf of Nationwide Furniture Distributors will support the $6.3 million rehabilitation of a 141,000-square-foot industrial building in North Lawndale. Total tax savings over the 12-year incentive period are estimated at $822,000. The project, which includes updates to all major building systems, will enable Nationwide to add an additional nine full-time jobs to its 25-member workforce. Nationwide also operates a 173,000-square-foot warehouse next door to the structure.

The Cook County Class 6(b) classification is designed to encourage industrial development by offering a reduced property tax assessment rate for 12 years for the development or revitalization of manufacturing or industrial facilities.

Spur Associates, LLC, 4301 S. Packers Ave.
The renewal of a Class 6(b) tax incentive for Spur Associates, LLC will support the continued occupancy of a 20,000-square-foot industrial building in New City by Dual Temp of Illinois Inc. The original Class 6(b) incentive, issued in 1993 and previously renewed in 2001, supported the purchase and renovation of the property for Dual Temp’s industrial refrigeration repair and installation business. The estimated $347,000 in tax savings through the 12-year renewal period will support the addition of 11 permanent jobs.

TGM Holdings, LLC, 1514-16 E. 87th St.
A Class 7(a) incentive will support the $402,000 renovation of a 9,600-square-foot vacant commercial building in Calumet Heights by TGM Holdings LLC. The proposal will reduce property taxes by an estimated $300,000 over the next 12 years and enable the owners to rehabilitate the space as a medical center with treatment rooms, physical therapy space, wound care clinic, and surgery center. Approximately 10 permanent jobs will be created by the project.

The Cook County Class 7(a) tax incentive is designed to encourage commercial development by offering a reduced property tax assessment rate for 12 years.

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