Tax Incentive Approved for North Park School Bus Complex
November 15, 2023
Department of Planning and Development 312.744.9267
The recent $820,000 renovation of a school bus facility in North Park will be supported through a Cook County Class 6(b) property tax incentive approved by City Council today.
The Infinity Operations project at 5740 N. Tripp Ave. included a partial demolition and renovation of a 75,000-square-foot industrial building for use by Compass Transportation, which provides bus transportation for local students. Infinity purchased the vacant structure in September 2021 for $4.2 million.
The incentive will reduce taxes on the property by $781,000 over the next 12 years.
The Class 6(b) incentive encourages the redevelopment and rehabilitation of underutilized commercial and industrial properties.
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