Tax incentives approved for businesses in Elk Grove and Wheeling
Cook County Commissioners have approved 6b tax incentives for local businesses, including one in Elk Grove Village and two in Wheeling.
Under the program, the properties will be assessed at a rate of 10 percent for 10 years, 15 percent in the 11th year and 20 percent in the 12th year. After that, assessments will return to the normal rate of 25 percent. The incentives are designed to help grow firms related to industrial manufacturing, fabrication, distribution or warehouse sectors.
Incentives were approved for CH Global Holding LLC, 1655 Greenleaf Ave., Elk Grove Village, to help TI Express, a related entity, occupy the site for assembly, maintenance, warehousing and distribution in connection with container drainage; for AR Alderman LLC, 250 Alderman Lane, Wheeling, to help it lease the property to Old World Granite, a related entity, for fabrication of countertops and storage of materials; and for JV Global Services LLC, 199 Sheppard Ave., Wheeling, to aid with substantial rehabilitation, including work on parking, lighting, doors, windows and landscaping.
JV Global Services intends to occupy 5,300 square feet to operate a truck service, maintenance and wash business; lease 37,600 square feet to Aargus Plastics, a related entity, for the manufacturing of custom plastic bags; and lease 29,440 square feet to Fresh Farms for warehousing and distribution.
The applicant plans to lease the remaining 35,569 square feet to another tenant for industrial use.