Property tax incentives approved today by City Council will support four industrial and commercial redevelopment projects on the Northwest, Southwest and South sides.  

4900 W. Grand Ave. LLC, 4900 W. Grand Ave.
A Class 6(b) incentive for 4900 W. Grand LLC on behalf of Chicago Metal Supply & Manufacturing Inc. will help facilitate the acquisition and rehabilitation of a 32,000-square-foot industrial building in Belmont Cragin. The $859,000 project will expand production space for specialty roofing materials and related products. Taxes on the property will be reduced by an estimated $106,000 over the 12-year period and enable the company to add six new jobs to its current 17-member workforce. Chicago Metal currently operates out of an adjoining 36,000-square-foot structure.  

The Class 6(b) classification encourages the redevelopment of industrial properties by lowering the Cook County tax rate for eligible projects over a 12-year period.

CenterPoint Properties Trust, 4400 W. 35th Pl  
A Class 6(b) incentive will support the $5.7 million expansion of warehouse and distribution space by CenterPoint Properties on behalf of BWAY Corp. in the Little Village Industrial Corridor. The 79,000-square-foot addition will expand an existing 76,000-square-foot facility. The project, which also includes $770,000 in renovations to the existing structure, will enable BWAY to maintain 37 jobs and transfer 19 jobs from its Cicero, IL facility. Total tax savings over the 12-year period are estimated at $583,000. Founded in 1875 as a maker of pie tins and other household products, the business today manufactures rigid steel and plastic containers, including aerosol cans, metal cans, and pails used for packaging paint, lubricants, cleaners, and food products.

South Chicago Property Management LLC, 11600 S. Burley Ave.
A Class 6(b) Sustainable Emergency Relief (SER) incentive for South Chicago Property Management LLC will help support the continued operation of the bulk material recycler in South Deering. Since 2001, the business has invested more than $27 million to acquire and rehab various unimproved structures, creating a sorting facility on an 84-acre site once partially occupied by LTV Steel. The incentive will lower taxes on the complex by an estimated $1.9 million over the next 12 years. Located between Green Bay Avenue and the Calumet River, the site currently houses four recycling companies that employ 263 workers.  

The Class 6(b) SER incentive provides temporary property tax relief to industrial enterprises that have occupied the same property for at least 10 years and require a tax reduction to continue operations and maintain staff.

Halsted Two Property LLC, 825 W. 47th St.
A Class 7(c) tax incentive will facilitate the construction of a new 2,043-square-foot Dunkin Donuts store on a .29-acre vacant site in New City. To be developed by Halsted Two Property LLC, the $1.4 million facility will include a drive-through, parking and landscaping. Total tax savings are estimated at $122,000. The project will create 20 full-time and 20 part-time jobs.  

The Class 7(c) incentive reduces property tax assessment levels on qualified commercial properties to 10 percent for three years, 15 percent in the fourth year and 20 percent in the fifth year.

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