West Town Manufacturer Receives Property Tax Incentive

In a recent decision, the City Council of Chicago approved a property tax incentive aimed at bolstering local industrial growth. The Cook County Class 6(b) incentive will support IGS HQ LLC, a landscape decor company, in its $2 million project located at 1474 W. Hubbard St. This initiative will provide the company with 13,500 square feet for manufacturing and storage, enhancing its operational capabilities. The tax incentive is projected to save the company approximately $101,788 over a 12-year period, making the project financially viable.

Class 6(b) incentives are specifically targeted at encouraging industrial retention and attracting businesses to underutilized properties, thereby fostering economic development. This decision aligns with the City of Chicago’s commitment to sustainable growth and revitalization of its neighborhoods. The Planning and Development Department, which oversees such initiatives, emphasizes the importance of supporting local businesses. This move is expected to have a positive impact on the West Town neighborhood and the city's overall economy.