City of Chicago Department of Planning and Development
10/16/2025 | Press release | Archived content
Property Tax Incentive Approved for New City Industrial Facility
Property Tax Incentive Approved for New City Industrial Facility
October 16, 2025
312.744.9267
Brookfield Properties' planned industrial complex in New City was approved for a Cook County Class 6(b) property tax incentive by City Council today.
The $57.2 million project at 47th Street and Western Boulevard includes four new industrial buildings ranging in size from 75,000 to 198,000 square feet. The project is estimated to create 25 full-time jobs per building when fully leased.
The incentive will provide an estimated $7.3 million in savings over its 12-year term.
The site was previously occupied by a Wheatland Tube Co. plant, which closed in 2024.
The Class 6(b) incentive is intended to encourage industrial development, rehabilitation of existing buildings and repurposing of abandoned buildings.
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