Cook County Board Approves Tax Incentives, including Class 7b Tax Incentive for Redevelopment at Old Orchard Shopping Center

The Cook County Board of Commissioners today approved a Class 7b property tax incentive, at the recommendation of the County’s Economic Development Advisory Committee (EDAC), to support the redevelopment of Old Orchard Shopping Center in Skokie, Illinois.

“I’m thrilled that Cook County can support this redevelopment project at Old Orchard.” said Cook County Board President Toni Preckwinkle. “Projects like this create quality jobs, bring much-needed investment to surrounding businesses, and increase opportunities for community activity.”

Old Orchard Urban Limited Partnership and URW plans include reconfiguring the former Lord & Taylor department store building at 4847 Old Orchard Shopping center into a multi-tenant building. Plans for the space include a multitude of possible users including high-end retail, dining, coworking space, fitness, and possible grocery – turning a building left vacant since 2018 into a living and breathing type of space with many different uses filled with activity.

The Class 7b tax incentive will result in an increase in activity to a section of the shopping center left empty, serving as a symbol of stability to other retailers and restaurant owners nearby. It helps everyone when there are new uses and dynamic reasons to come to Old Orchard, increasing dwell time and visits to other retailers.

In addition, today the Board approved:

• Applicant: Benziger LLC
  Location: 700 Touhy Avenue, Elk Grove Village, Illinois
  Property Use: Industrial - Warehousing, assembly and distribution
  Description: Frank Cooney Co., Inc., a related entity will occupy the site for its operations consisting of the light assembly, warehousing and distribution of educational furniture.  
  Type of Incentive: Class 6b
   
• Applicant: Martin Lane Group, Inc
  Location: 200 Martin Lane, Elk Grove Village, Illinois
  Property Use: Industrial – Assembly, warehousing and distribution
  Description: The Applicant intends to lease 6,000 square feet to a related entity, PinMart Inc., whose operations consist of the light assembly, warehousing and distribution of recognition items and jewelry. The additional 9,000 square feet will be leased to an industrial user.
  Type of Incentive: Class 6b
   
• Applicant: Harvey Real Estate Inc.
  Location: 15325 Dixie Highway, Harvey, Illinois
  Property Use: Commercial – Gas station and convenience store
  Description: The applicant will occupy the site as a gas station (SUNDOCO) and convenience store.
  Type of Incentive: Class 8
   
• Applicant: Actuation Group Inc. / Angela Carbonaro
  Location: 16660 S. Canal Street, South Holland, Illinois
  Property Use: Industrial Use – Manufacturing and distribution
  Description: The applicant will occupy the site to repair, modify, re-manufacture and test all sizes of Gate, Globe, Control and Safety Relief Valves.
  Type of Incentive: Class 8