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TIF-Funded Commercial Developments Outside the Central Loop TIF

Retail Developments/Shopping Centers
“Big Box” Retail
Movie Theaters
Office Space
Mixed Use (Commercial/Residential) Development

Retail Developments/Shopping Centers

TIF District/Date Description TIF Subsidy Jobs Promised/Reported
79th St. Corridor(3/7/01) Auburn-Gresham LLC78th & HalstedCommercial building $385,000  
95th/Stony Island(4/1/98) 95th/Stony LLC9500 S. Stony Island Ave.Construct shopping center and grocery store. $5,125,000 Create 400 jobs.
Devon/Western (3/28/01) First Mutual Bank of Illinois6333-39 N. Western Ave.Demolish present buildings for construct a banking facility.  Reconstruct  current city parking lot. $500,000  
Edgewater (2/7/90) First National Realty & Development 1116 W. Berwyn Ave.Construct new shopping center. $1,100,000 0
Englewood (2002) Englewood Commercial Development Co./Smithfield Properties 59th St., 60th St., 61st St., Halsted6-bldg development, 72 storefronts; merchants moving from 63rd-64th St.; City will buy 12 parcels (appraised value, $832,000) and sell them to developer for $1 $5,400,000  
Howard/Paulina (6/9/99) Combined Development/Howard LLC 7600 N. Clark St.Construct shopping center & grocery with CTA access. $8,000,000 Create 133 full-time and 262 part-time jobs.
Irving/Cicero (9/11/96) Six Corners Development, LLC 4800 W. Irving Park Rd.Construct shopping center with Jewel and Marshall’s. $3,700,000 Create 200 full-time jobs.
Lincoln Ave. Corridor (2002) BGP Lincoln Village LLC6055-6199 N. Lincoln Ave.Redevolopment of Lincoln Village Shopping Center. Including 109-unit senior housing and Borders Books $4,950,000  
Near South (11/30/94) American Store Properties, Inc.1200 S. State St.Construct grocery store and related retail. $2,000,000 Create 115 full-time jobs.
North/Cicero (4/21/99) North & Cicero Development, LLC 4801 W. North Ave.Construct Dominicks and shopping center. $6,290,000 Create 400 jobs.
Roosevelt/Canal (10/30/96) Soo T, LLC 1202 S. Canal St.Construct Dominicks and shopping center. $4,500,000 Create 100 jobs.
Ryan/Garfield (9/9/87) Ryan Center Limited Partnership 5300 S. Wentworth Ave.Construct shopping center. $2,315,000 0
Stockyards Industrial-Commercial(5/24/89) Yards Developers, Inc.4700 S. Damen Ave.Construct shopping center and grocery store. $2,915,000 Create 400 jobs.
TIF District/Date Description TIF Subsidy Jobs Promised/Reported
Stockyards Southeast Quadrant(11/8/00) Stockyards Inn4146-52 S. HalstedConversion of Exchange Building to an upscale restaurant and banquet facility. $100,000  
Stony Island Commercial/Burnside Industrial(1/10/01) Greenwood Associates, LLCGreenwood near E. 87th St.Renovation of former shopping center into 12 tenant spaces; street improvements at E. 87th St and Greenwood Ave. intersection, 3 office buildings total 47,000 SF 160 parking spaces $2,600,000  
Total   $49,880,000  
       

 

“Big Box” Retail

TIF District/Date Description TIF Subsidy Jobs Promised/Reported
95th/Western(12/10/97) DB Beverly LLC2200 W. 95th St.Construct Border’s book store $1,600,000 Create 28 jobs.
Chatham Ridge (1/14/98) Home Depot 200 W. 87th St.Construct new Home Depot outlet $3,200,000 O
Fullerton/Normandy (10/5/94) Home Depot 6600 W. Fullerton Ave.Construct new Home Depot outlet $3,100,000 Create 200 jobs.
Northwest Industrial (2002) Home Depot 1949 N. CiceroCommunity Development Commission, 2/5/02, approved negotiations for a 118,000 SF  Home Depot; an industrial building to be demolished  $3,100,000 Create 125 jobs
West Grand (6/10/96) PetSmart 6655 W. Grand Ave.Construct new PetSmart store. $800,000 Create 42 jobs.
West Ridge/Peterson (11/27/86) May Company Department Stores 2036 W. Peterson Ave.Construct Venture (now Kmart) store. $3,000,000 Create 37 jobs.
Total   $14,800,000  

 

Movie Theaters

TIF District/Date Description TIF Subsidy Jobs Promised/Reported
60th/Western(6/4/97) Plitt Theaters/Inner City Entertainment (I.C.E.)6100 S. Western Ave.Construct new movie theaters. $2,652,290 Create 33 full time jobs.
Chatham Ridge (5/20/98) Plitt Theaters/I.C.E. Chatham, Inc.200 W. 85th St.Construct new movie theaters. $3,827,000 Create 8 full time and 58 part time jobs.
Roosevelt/Homan (11/10/99) Plitt Theaters/I.C.E. Lawndale, Inc.3300 W. Roosevelt Rd. Construct new movie theaters. $3,335,000 Create 50 jobs.
Total   $9,814,290  

 

Office Space

TIF District/Date Description TIF Subsidy Jobs Promised/Reported
Canal/Congress(9/27/00) Monroe/Clinton LLC555 W. Monroe St.Construct corporate headquarters for Quaker Oats. $9,750,000 Retain 800 jobs.
Kinzie Industrial (5/17/00) MarchFirst, Inc.300 N. Elizabeth St.Construct new corporate headquarters for high tech company.* $23,500,000 Create 1,162 jobs.
Near West (7/2/92) Fogleson Devlopment Corp./H20 Plus, Inc.1200 W. Madison St.Construct new corporate headquarters. $1,084,115 Create 60 jobs.
West Pullman(2002) Lewis & Amu Development Corp.1336 W. 119th St.Spec office space; 2 buildings, each 104,000 SF; state DCFS facility to be on 1/2 of site Land Write-down; Value:  $392,040 Retain or Create 600 jobs
Total   $34,726,155  

* Althoughthe subsidy was approved by the Chicago City Council, this deal is on likely dead due to the company’s financial problems.

 

Mixed Use (Commercial/Residential) Development

TIF District/Date Description TIF Subsidy Jobs Promised/Reported
Chicago/Kingsbury11/15/01) 535 & Montgomery WardRedevelop the Ward's high rise building and garage across the street. $3,500,000  
Chicago/Kingsbury (2002) Eport 600 LLC/CentrumRedevelopment of historic Montgomery Wards warehouses for commercial-residential use; including  affordable housing $28,500,000  
Chinatown (4/25/90) Chinese-American Development Corp.300 W. Archer Ave. Construct new shopping center and townhomes. $5,933,040 Create 700 jobs
Howard/Paulina(7/29/98) Howard Theater, LLC1615-1643 W. Howard Street40 affordable rental units, 11 parking spaces, and 10 commercial storefronts $878,200 Create 27 jobs; Retain 15 jobs
Lawrence/Broadway Uptown Goldblatts Venture LLC4720-40 N. BroadwayCommunity Development Commission, 2/5/02, approval. Redevelop Goldblatts store into  37 condos, including 8 affordable; retail on 1st floor;  $1.25M of TIF subsidy to be funneled to Leland Hotel redevelopment $5,750,000  
Lincoln/Belmont/Ashland(11/30/94) Lincoln-Belmont-Ashland LLC3219 N. Ashland Ave.Mixed retail/condominium development. $7,500,000 Create 313 jobs.
Near South (6/9/99) Reliable Building, LLC2024 S. Wabash Ave. Construct retail/residential/restaurant complex. * 0
Roosevelt/Union (11/10/99) University of Illinois Board of Trustees1201 S. Halsted St. Construct private and student housing, retail, and academic facilities for South Campus expansion. $75,000,000 0
Total   $127,061,240  
* The property for the project was acquired by the City and then sold to the developer at a discount, but no dollar value for the TIF subsidy was provided in the redevelopment agreement. The value of the subsidy is equal to the price the City paid for the land minus the price at which the City sold the land to the developer, which in this case was $180,000.