Mayor proposes tax incentive for Diaz Group's renovated office building

Ciere Boatright commissioner of the Chicago Department of Planning and Development (DPD) | LinkedIn

By Chicago City Wire

May 22, 2024

Diaz Group LLC’s recent $512,000 renovation of a former New City bank into company offices would receive a Class 7a property tax incentive proposed to City Council today by Mayor Brandon Johnson. The project at 5100 S. Damen Ave. was completed in 2023, providing a headquarters for more than 500 landscape industry employees. The one-story building had been vacant since 2015.

The incentive would reduce taxes on the property by $217,014 over the 12-year term. The Cook County Class 7a property tax incentive is intended to encourage commercial development in areas in need of revitalization.

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City of Chicago Department of Planning and Development

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