Property tax incentives approved today by City Council will support industrial expansion projects in Southwest and Northwest side industrial corridors.

Paulina South LLC, 2400- 2501 S. Wood St.
A Class 6(b) property tax incentive will support the construction of a 156,000-square-foot industrial building in the Pilsen Industrial Corridor by Paulina South LLC. A portion of the $19 million project will be leased to produce distributor La Hacienda Brands. The remaining space will be rented to other industrial tenants. An estimated $2.3 million in tax savings over the 12-year period will support the retention of 32 jobs and add 30 new positions once fully leased.

Paulina North LLC, 2300-31 S. Blue Island Ave.
A Class 6(b) property tax incentive will support the construction of a 227,000-square-foot refrigerated warehouse in the Pilsen Industrial Corridor by Paulina North LLC. The $36 million facility will be leased to Preferred Freezer Services, which provides state-of-the-art cold storage warehousing services to various clients. The estimated $3.4 million in tax savings over the 12-year period will support 53 permanent jobs once fully leased.

Skvaril LLC, 1929-37 W. Walnut St. A Class 6(b) incentive will support the development of a $2.1 million video production facility in Kinzie Industrial Corridor by Production Craft Inc. The 9,200-square-foot project includes studios, office, storage, and loading space. The estimated $336,000 in tax savings over the 12-year incentive period will support the retention of five permanent jobs and the creation of four new positions.

The Class 6(b) tax classification encourages the redevelopment of industrial properties by lowering the Cook County tax rate for eligible projects over a 12-year period.

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