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PROPOSED RESOLUTION
THE MARVEL GROUP CLASS 6B SUSTAINABLE EMERGENCY RELIEF (SER)
WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 6b Sustainable Emergency Relief (SER) application containing the following information:
Applicant: The Marvel Group
Address: 3843 W. 43rd Street; 4417 S. Springfield Avenue, Chicago, Illinois 60632
Length of time at current location: 66 Years
Length of time property under same ownership: 66 years
Is there evidence supporting 10 years of the same ownership and/or occupancy (tenancy): Yes
Age of the Property (Building): 72 years
Municipality or Unincorporated Township: City of Chicago
Cook County District: 16
Permanent Index Number(s): 19-02-301-003-0000; 19-02-301-008-0000;19-02-301-009-0000; 19-02-301-011-0000; 19-02-301-012-0000; 19-02-301-014-0000 and 19-02-303-036-0000
Municipal Resolution Number: City of Chicago Resolution approved January 5, 2018
Evidence of Economic Hardship: Yes
Number of blighting factors associated with the property: Dilapidation - The roof on all 3 buildings need to be replace and/or repaired. Obsolescence - Inherent functional obsolescence access to the buildings are restricted and inefficient and the ceiling heights are less than desirable. Deterioration - Production equipment needs to be repaired and/or replaced, HVAC system, double -hung windows and masonry walls need repair.
Has justification for the Class 6b SER program been provided?: Yes
Estimated # of jobs created by this project: None
Estimated # of jobs retained at this location: 177 full-time jobs
Estimated # of employees in Cook County: Same as above
Estimated # of construction jobs: None
Proposed use of property: Industrial - Manufacturing: Manufacturing of high-quality metal office furniture and heavy-duty metal weapons and equipment cases for the military
Living Wage Ordinance Compliance Affidavit Provided:
WHEREAS, the...
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