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Industrial Owners Line Up for Tax Breaks

CHICAGO-The Cook County Class 6(b) property tax reductions will help Quality Croutons, Cloverhill Pastry-Vend Corp., Murrihy Pallet Co. and Robert's Sheet Metal complete $24 million worth of industrial expansions and developments.

By Mark Ruda | Updated on October 09, 2002

CHICAGO-The Cook County Class 6(b) property tax abatement is being used here to fuel more than $24 million in industrial expansions and developments. The tax break will be used by property owners on the Northwest, West and South sides under proposals expected to be passed later this month by the city council.

The abatements reduced the assessments on the property from 36% of fair market value to 16% for the first 10 years, with increases in the 11th and 12th years before they are phased out.

Quality Croutons is building a $13.1-million, 187,000-sf building at 1321 W. 119th Street, which formerly was a brownfield site. In addition to the tax break, the city will sell 8.5 acres for less than $94,000, a write-down of nearly $750,000 from the property’s appraised value. The African-American-owned food manufacturer will move to the West Pullman neighborhood from 825 W. 37th St.

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