Tax Incentives Proposed for Three Properties

Tax Incentives Proposed for Three Properties

An Austin grocery store, a West Pullman industrial facility and a New City food ingredient distributor would receive Cook County property tax incentives under measures introduced to City Council today by Mayor Brandon Johnson.

Damen Grocery Inc., the operator of Central Fresh Market at 5567 W. North Ave., would receive a Class 7(d) incentive for the recent $148,000 reopening of a grocery that had been vacant since 2020. The incentive would provide an estimated $380,762 in savings over its 12-year term.

The Class 7(d) incentive supports the operation of grocery stores in areas lacking access to fresh fruit, vegetables and other foods.

DL3 Realty would receive a Class 6(b) incentive for the $40 million renovation of a 24.4-acre industrial property at 1001 W. 119th St. The incentive would provide an estimated $3.3 million in savings over its 12-year term.

The Class 6(b) incentive is intended to encourage industrial development, rehabilitation of existing buildings and repurposing of abandoned buildings

Total Sweeteners Inc. would receive an initial recommendation for a Class 6(b) Sustainable Emergency Relief (SER) incentive for its facility at 2234 W. 43rd St., which employs 80 full-time union workers.

The incentive would provide an estimated $3.6 million in savings over its 12-year term. Final approval of the incentive requires the adoption of an associated redevelopment agreement.

The Class 6(b) SER incentive provides temporary property tax relief to industrial enterprises that have occupied the same property for at least 10 years and require a tax reduction to continue operations and maintain staff.