Tax Incentive Proposed for Near West Side Industrial Project
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A two-building Near West Side industrial complex would be constructed with support from a Cook County Class 6(b) property tax incentive proposed to City Council today by Mayor Brandon Johnson.
Kinzie Commerce Development's $19 million project at 2519 W. Fulton St. and 2520 W. Lake St. would replace a pair of outmoded industrial structures with contemporary buildings totaling 68,000 square feet of space.
Valued at $1.9 million over its 12-year term, the incentive would help create 20 full-time positions when the buildings are fully leased.
The Class 6(b) property tax incentive is intended to encourage industrial development in areas in need of revitalization.