Ciere Boatright commissioner of the Chicago Department of Planning and Development (DPD) | City of Chicago Website
Ciere Boatright commissioner of the Chicago Department of Planning and Development (DPD) | City of Chicago Website
A new industrial complex is planned for the Near West Side with the aid of a proposed Cook County Class 6(b) property tax incentive. This proposal was introduced to the City Council by Mayor Brandon Johnson.
The planned project by Kinzie Commerce Development involves the construction of two modern structures at 2519 W. Fulton St. and 2520 W. Lake St., replacing existing outdated industrial buildings. The development spans a total of 68,000 square feet and costs $19 million.
The proposed tax incentive, valued at $1.9 million over 12 years, is designed to foster the creation of 20 full-time positions once leasing of the buildings is completed.
The Class 6(b) incentive aims to boost industrial growth in areas requiring revitalization.
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