$12 million industrial building coming to Elk Grove Village

A $12 million industrial building will replace a 49-year-old vacant building in Elk Grove Village's business park that the property owner says is functionally obsolete. The existing 140,100-square-foot building at 2200 Arthur Ave. will be torn down in the coming months, according to representatives of DCT 2200 Arthur LLC, which bought the site in September.

In its place will be a new 112,800-square-foot building, to be leased to an industrial user for warehousing, manufacturing and/or distribution and bringing 50 to 100 jobs, officials said. The Elk Grove Village board has endorsed the owner's application for a Cook County's Class 6b property tax break, in which the land will be assessed at 10 percent of market value for 10 years, at 15 percent in the 11th year, and 20 percent in the 12th year. Normally, property is assessed at 25 percent of market value. Construction is expected to be finished by mid-2015.