RESOLUTION CLASS 6(B) REAL ESTATE TAX INCENTIVE FOR THE BENEFIT OF ROLAM EQUITIES, LLC, AND REAL ESTATE LOCATED GENERALLY AT 4400 WEST OHIO STREET IN CHICAGO, ILLINOIS PURSUANT TO COOK COUNTY, ILLINOIS REAL PROPERTY ASSESSMENT CLASSIFICATION ORDINANCE
WHEREAS, the Cook County Board of Commissioners has enacted the Cook County Real Property Assessment Classification Ordinance, as amended from time to time (the "Ordinance"), which provides for, among other things, real estate tax incentives to property owners who build, rehabilitate, enhance and occupy property which is located within Cook County and which is used primarily for industrial purposes; and
WHEREAS, the City of Chicago (the "City"), consistent with the Ordinance, wishes to induce industry to locate and expand in the City by supporting financial incentives in the form of property tax relief; and
WHEREAS, Rolam Equities, LLC, an Illinois limited liability company (the "Applicant"), owns certain real estate located generally at 4400 West Ohio Street, Chicago, Illinois 60624, as further described on Exhibit A hereto (the "Subject Property"); and
WHEREAS, the Applicant intends to substantially rehabilitate an approximately 115,368 square foot industrial facility located on the Subject Property; and
WHEREAS, Rightsize Facility Performance of IL LP, an Illinois limited partnership, is an office furniture products distributor and MAC Logistics LLC, a Nevada limited liability company, and is a third party logistics organization that performs warehousing (collectively, the "Tenants");
WHEREAS, the Tenants intend to occupy the Subject Property; and
WHEREAS, the Applicant has filed with the Office of the Assessor of Cook County (the "Assessor") an eligibility application for a Class 6(b) tax incentive under the Ordinance; and
WHEREAS, the Applicant purchased the Subject Property for value; and
WHEREAS, at the time of purchase, the Subject Property had been abandoned for approximately 14 months; and
WHEREAS, the City's...
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