Cook County Board Approves Five Incentives Designed to Grow Vital Communities
Cook County Board Approves Five Incentives Designed to Grow Vital Communities
The Cook County Board of Commissioners recently approved five proposals from President Toni Preckwinkle’s Bureau of Economic Development (BED) that will provide tax incentives to businesses in Cook County.
The incentives, designed to promote economic growth, were approved in the following communities: Bridgeview, Chicago, Chicago Heights, Harvey and Posen.
“Our tax incentive tools are used to either keep or expand businesses in Cook County,” Preckwinkle said. “The companies receiving these incentives, designated for either industrial or commercial use, have demonstrated their commitment to helping us grow vital communities.”
Details on the incentives follow, listed by municipality:
Applicant Name: Arlington Industrial Owner LP, 7400 West 100th Place, Bridgeview
Property Use: Manufacturing
Description: Tibor Machine Products, Inc. established in 1968 is a contract machined products manufacturer of parts. Products include: steering knuckles, hydraulic cylinder components, rod eyes, rod ends, yokes, spindles, axles, shafts, brake drums, wheel hubs, trunnions, housings and more.
Type of Incentive: 6b SER (Sustainable Emergency Relief)
Applicant Name: Liberty Property Limited Partnership, 5063 South Merrimac Avenue, Chicago
Property Use: Industrial
Description: The applicant intends to secure industrial tenants to the site, who will likely be third party logistics providers and/or packaging and food related companies. The site will be designed to accommodate 284 car parking stalls. Type of Incentive: Class 6b
Applicant Name: 1401 Western Avenue LLC, 1401 Western Avenue, Chicago Heights
Property Use: Commercial for healthcare facility
Description: Applicant has purchased the subject property and intends to substantially rehabilitate and lease it. The applicant plans to lease property to Oak Street Health, a provider of primary care centers for adults on Medicare. Oak Street Health has been investing in communitiesacross Illinois, Indiana and Michigan since 2013.
Type of Incentive: Class 8
Applicant Name: MGR 017, LLC, 210 E. 159th Street, Harvey
Property Use: Industrial
Description: Transportation, Logistics and truck repair
MGR will occupy the space as their truck repair location and trailer drop-lot location
Type of Incentive: Class 8
Applicant Name: Noble Estate Group LLC,
2425 140th Place, Posen
Property Use: Industrial
Description: The investment group is relocating their trucking business to the subject property and plans to complete some improvements to the building in order to improve and expand its capabilities to warehouse, dispatch and provide fleet maintenance.
Type of Incentive: Class 8
For more about the tax incentive programs offered by the Cook County Bureau of Economic
Development, go to www.cookcountyil.gov/economicdevelopment
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