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South Cook News

Tuesday, February 25, 2020

COOK COUNTY: Cook County Board Approves Five Incentives Designed to Grow Vital Communities

Local Government

By Press release submission | Jan 25, 2020

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Cook County issued the following announcement on Jan. 17.

Today, the Cook County Board of Commissioners 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 health care 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 communities across 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 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.

Original source can be found here.

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