A Class L property tax incentive will support the $3 million rehabilitation of a two-story commercial building in the Fulton-Randolph Market Landmark District under a plan approved today by City Council.
The incentive will support a comprehensive renovation at 911-15 W. Randolph St. into mixed-use retail and office spaces. The work will include masonry repairs, new windows and storefronts, new exit stairway and elevator, new mechanical systems, and a one-story rooftop addition and deck.
The 10,400-square-foot building was built in 1908 as a commission house for the Avondale Butter & Egg Co. It is currently owned by 911 Property Associates LLC.
The Class L tax incentive lowers the rate on Landmark properties undergoing significant rehabilitation. The incentive will reduce taxes on the building by an estimated $102,000 over 12 years.
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