title
PROPOSED RESOLUTION
7550 OAK PARK LLC OR ITS ASSIGNEE 6B PROPERTY TAX INCENTIVE REQUEST
WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 6b application containing the following information:
Applicant: 7550 Oak Park LLC or its Assignee
Address: 634 Glenn Avenue, Wheeling, Illinois 60090
Municipality or Unincorporated Township: Wheeling
Cook County District: 14
Permanent Index Number: 03-11-305-013-0000; 03-11-305-014-0000; 03-11-305-015-0000; 03-11-305-016-0000; 03-11-305-017-0000
Municipal Resolution Number: 15-75
Number of month property vacant/abandoned: 20
Special circumstances justification requested: Yes
Estimated Number of jobs created by this project: 14 full-time, 0 part-time
Estimated Number of jobs retained at this location: 126 full-time, 0 part-time
Estimated Number of employees in Cook County: 126 full-time, 0 part-time
Estimated Number of construction jobs: 20
Proposed use of property: Industrial-manufacturing facility and corporate office
Living Wage Ordinance Compliance Affidavit Provided: Yes
WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 6b that provides an applicant a reduction in the assessment level for an abandoned industrial facility; and
WHEREAS, the Cook County Classification System for Assessment defines abandoned property as buildings and other structures that, after having been vacant and unused for at least 24 continuous months, have been purchased for value by a purchaser in whom the seller has no direct financial interest; and
WHEREAS, in the instance where the property does not meet the definition of abandoned property, the municipality or the Board of Commissioners, may determine that special circumstances may exist that justify finding that the property is abandoned for purpose of Class 6b; and
WHEREAS, in th...
Click here for full text