Four Cook County tax incentives approved by City Council today will reduce the tax rates on properties being proposed for private redevelopment in Uptown, Humboldt Park, Chatham, and New City.

• A Class 7(a) property incentive for Double Down Development’s planned Double Door nightclub in Uptown will help convert a former vaudeville house at 1050 W. Wilson Ave. into a live music venue. Planned for the former Wilson Avenue Theater building, the $1.7 million project would rehabilitate the 112-year-old structure as a 700-person music hall that creates up to 60 permanent and temporary jobs. Part of the Uptown Square Chicago Landmark District, the building was converted to a bank in 1919. The Class 7(a) incentive would reduce taxes on the property by approximately $564,000 over the next 12 years.
• A Class 7(a) property tax incentive will reduce the tax rates on a 6,100- square-foot commercial property at 4401 W. Division St. in Humboldt Park. C. Cogswell LLC plans to redevelop the site as an auto body shop. The $286,000 project is expected to create 20 full-time and temporary positions on the property, which has been vacant since 2015. Tax savings over the 12- year period are estimated at $113,000.
• A Class 7(a) property tax incentive will reduce the tax rates on a 19,550- square-foot commercial building at 834-40 W. 87th St in Chatham. Dreams Realty and Design Inc. Plans to rehabilitate the now-vacant property as office space with a first-floor coffee shop that together will employ 50 full-time workers. Tax savings over the 12-year incentive period are estimated at approximately $590,000. More than $500,000 in past due taxes from a previous owner will be paid in advance of the incentive being finalized.
• A Class 6(b) property tax renewal will provide 12 additional years of reduced tax rates for a 104,000-square-foot industrial building at 815 W. Pershing Road in the Stockyards Industrial Corridor. Completed in 2010 and currently owned by GFP Alliance Chicago LLC, the building is undergoing a $21.7 million expansion project that will retain 126 full-time jobs and generate an additional 35 new positions. Tenants include the U.S. Drug Enforcement Agency, Maestro Food Company, Goodman Distribution, and Nature’s Fynd. Property tax savings over the 12-year term of the incentive are estimated at $1.9 million.

The Class 7(a) and 6(b) tax incentive programs are administered by Cook County in cooperation with local municipalities to help revitalize vacant and underutilized commercial and industrial properties.