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North Side Building Off Limits to Residential Developers

CHICAGO-The city wants to keep 5895 N. Rogers Ave. an industrial property, and could use eminent domain to prevent the 47-year-old vacant building out of the hands of residential developers.

By Mark Ruda | Updated on April 19, 2006

(To read more on the industrial market, click here.)

CHICAGO-Rather than watch another North Side industrial property go the way of residential redevelopment, city officials are stopping one attempt in the North Park community. The Department of Planning and Development recently won acquisition authority from the community development commission, which will give the city to use eminent domain, if necessary, to gain control of 5895 N. Rogers Ave.

The one-story, 25,500-sf industrial building has been owned by Reliable Perforating since late 1990, when it paid $200,000. However, the business closed more than two years ago, and the building has been vacant since, according to Denise Roman of the Department of Planning and Development. After paying the owner fair market value for the property, the city could offer tax increment financing and Cook County property tax incentives to a buyer who would return the property to industrial use, she adds.

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