Work begins on southeast Chicago industrial development
CHICAGO (AP) - Work has begun on a southeast-side Chicago industrial development that officials say will be home to 1,300 jobs.
NorthPoint Development broke ground Thursday on the $164 million project. It will cover 196 acres (79 hectares).
The plan is to begin with an industrial building of 360,000 square feet (33,000 square meters). Eventually there will be six structures of up to 600,000 square feet (55,700 square meters). There will be room for up to 10 manufacturing, assembly and distribution-type tenants.
The land is adjacent to NorthPoint's supplier park of nearly 3 million square feet (279,000 square meters) that serves Ford Motor Co.'s nearby Torrence Avenue assembly plant. The development will receive up to $52 million in tax increment financing assistance.
The site was originally home to Republic Steel beginning in 1901.