Tax Incentive Approved for Redeveloped Lake View Site
October 30, 2024
Department of Planning and Development 312.744.9267
HSG Belmont Clark LLC will receive a Cook County Class C property tax incentive to support its recently completed commercial structure in Lake View following approval by City Council today.
The two-story, $29.9 million project replaced a parking lot and bank at 3179 N. Clark St. and included extensive environmental remediation.
The incentive will reduce taxes on the property by an estimated $2.9 million during the 12-year term.
The Class C property tax incentive is intended to facilitate commercial and industrial investment in properties that have substantial environmental contamination.
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