Dl.l'ARTMI-.NT 01- Law
CITY Ol-" CHICAGO
September 2, 2022
Ms. Anna M. Valencia City Clerk City of Chicago
121 North LaSalle Street - Room 107 Chicago, Illinois 60602
Proposed Madden/Wells Redevelopment Project Area Tax Increment Financing District Amendment No. 1 dated September 2, 2022 (the "Amendment")
Dear Ms. Valencia:
Enclosed please find the above-referenced Amendment. Please make the Amendment available in your office as of this date for public inspection in accordance with the requirements of Section 5/1 l-74.4-5(a) of the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seg., as amended. If you have any questions with respect to this matter, please contact me at 312-742-8416 or Joseph.Thomas2@cityofchicago.org .
Sincerely,
J. Allen Thomas Assistant Corporation Counsel
Scott D. Fehlan Tim Jeffries, DPD
121 NORTH I.ASAI.I.K STREET. ROOM 600, CHICAGO, ILLINOIS <>0602
City of Chicago, IL
Madden/Wells Redevelopment Project Area
Tax Increment Financing Program Redevelopment Plan and Project Amendment No. 1
September 2, 2022
0 SBFRIEDMAN
CITY OF CHICAGO, IL
Madden/Wells Redevelopment Project Area
Tax Increment Financing Program Redevelopment Plan and Project Amendment No. 1
September 2, 2022
S B FRIEDMAN DEVELOPMENT ADVISORS, LLC
221 N. LaSalle St. Suite 820 Chicago, IL 60601
T: 312.424.4250 F: 312.424.4262 E. info@sbfriedman.com
Contact: Geoff Dickinson
T: 312-384-2404 E: gdickinson(5)sbfriedman.com
SB Friedman Development Advisors
CITY OF CHICAGO, IL
Madden/Wells Redevelopment Project Area
Tax Increment Financing Program Redevelopment Plan and Project
Amendment No. 1
Table of Contents
Executive Summary Exhibit A:
Section I Introduction
Section II. Legal Description and Project Boundary Section III Eligibility Conditions Section IV. Redevelopment Goals and Objectives Section V. Redevelopment Project
Section VI. Lack of Growth and Development through Investment by Private Enterprise
Section VII. Financial Impact
Section VIII. Demand on Taxing District Services
Section IX. Conformity of the Redevelopment Plan for the Project Area to Land Uses Approved by the Planning Commission of the City Section X. Phasing and Scheduling
Section XI. Provisions for Amending this Redevelopment Plan
Section XII Commitment to Fair Employment Practices and Affirmative Action Plan
Section XIII. Housing Impact
Exhibit II. Madden/Wells Redevelopment Project Area Estimated Redevelopment Costs
Exhibit III. 2001 Equalized Assessed Valuation by Tax Parcel
Figure II Historic Resources Map
Figure III. Land-Use Map
Figure IV. Community Facilities Map
Exhibit IV. Madden/Wells Redevelopment Project Area Eligibility Report
Exhibit V Madden/Wells Redevelopment Project Area Tax Increment Financing Housing Impact
Study
Exhibit VI. North Kenwood/Oakland Conversation Area Acquisition Map Exhibit B: CDC Resolution Exhibit C: 2022 Additional Documents
Appendix I: Maps 1-5
Appendix II: 2022 Expansion Area Eligibility Report
Appendix 1: Limitations of the Eligibility Report and Consultant Responsibilities
Appendix 2: Glossary
Appendix 3: Required Tests and Findings
Appendix 4- Legal Description
Appendix 5: List of PINs in 2022 Expansion Area
S B FRIEDMAN DEVELOPMENT ADVISORS, LLC
221 N. LaSalle St. Suite 820 Chicago, IL 60601
T: 312.424.4250 F' 312.424.4262 E. info(g)sbfriedman.com www.sbfriedman com
SB Friedman Development Advisors
Executive Summary
To induce redevelopment, pursuant to the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq., as amended (the "Act"), the City of Chicago (the "City") passed ordinances on November 6, 2002 that designated the Madden/Wells Tax Increment Financing Redevelopment Project Area (the "Original Redevelopment Project Area" or the "Original RPA") as a Tax Increment Financing ("TIF") District, and that adopted the Madden/Wells Tax Increment Financing Redevelopment Area Project Tax Increment Financing Project and Plan (the "Original Plan" or the "Plan") to guide redevelopment within the Original RPA.
The main purposes of this document ("Amendment No. 1") are to extend the life of the TIF District for twelve (12) years beyond its original completion date of December 31, 2026 to December 31, 2038, expand the Original Redevelopment Project Area, and makes changes to the Plan.
As a part of this work, we
Conducted an eligibility study (the "2022 Expansion Area Eligibility Report") for 32 21 acres of land (the "2022 Expansion Area") adjoining the Original RPA. We found that the 2022 Expansion Area qualifies for inclusion in a TIF district as a "blighted area" for vacant land. The Original Redevelopment Project Area and the 2022 Expansion Area are herein referred to collectively as the "Redevelopment Project Area" or the "RPA."
Prepared an amendment to the Plan to be referred to as "Amendment No. 1."
This Amendment No. 1 comprises the analyses and findings of SB Friedman Development Advisors, LLC (the "Consultant"), which work, unless otherwise noted, is the responsibility of the Consultant. The City is entitled to rely on the findings and conclusions of this Amendment No. 1 in amending the Plan under the Act The Consultant has prepared this Amendment No. 1 and the related eligibility study with the understanding that the City would rely: 1) on the findings and conclusions of the Plan and the related eligibility study in proceeding with the adoption and implementation of this Amendment No 1, and 2) on the fact that the Consultant has obtained the necessary information so that the Plan, as amended hereby, and the related eligibility study, will comply with the Act.
Amendments to the Madden/Wells Project Area Tax Increment Financing Redevelopment Area Plan and Project
The amendments to the Plan are presented section by section and follow the format of the Original Plan.
Exhibit A:
SECTION I. INTRODUCTION
A. Madden/Wells Tax Increment Financing Redevelopment Project Area
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City of Chicago / Madden/Wells TIF - Amendment No. 1
Delete all language in this subsection and replace with the following-
The Redevelopment Project Area is located on the south side of the City a few miles south of Chicago's Loop. The Redevelopment Project Area is comprised of approximately 125.3 acres. The 2022 Expansion Area consists of 182 parcels: 117 are vacant and 65 are parcels comprise a portion of Ellis Park which we have classified as ROW parcels For the purposes of eligibility, ROW parcels have not been analyzed
The boundary of the Redevelopment Project Area is shown in Exhibit C, Appendix I: Map 1
Tax Increment Financing - No changes.
The Redevelopment Plan for the Madden/Wells Tax Increment Financing Redevelopment Project Area
Add the following language after the last paragraph-
SB Friedman has found that the 2022 Expansion Area qualifies to be designated as a "blighted area" for vacant land per the Act. The vacant land is eligible under a one-factor test due to its contribution to flooding and is eligible under a two-factor test due to a lack of growth in EAV and obsolete platting in the 2022 Expansion Area.
SECTION II. LEGAL DESCRIPTION AND PROJECT BOUNDARY
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The legal description of the Redevelopment Project Area is included in Exhibit C, Appendix II - Appendix 4. SECTION III. ELIGIBILITY CONDITIONS
Summary of Project Area Eligibility
Add the following language after the last paragraph:
SB Friedman has found that the 2022 Expansion Area qualifies to be designated as a "blighted area" for vacant land. The vacant land is eligible under a one-factor test due to its contribution to flooding and is eligible under a two-factor test due to a lack of growth in EAV and obsolete platting in the 2022 Expansion Area.
Surveys and Analyses Conducted
Add the following language after the last paragraph:
SB Friedman conducted the following analyses to determine whether the 2022 Expansion Area is eligible for designation as a "blighted area" for vacant land per the Act:
Parcel-by-parcel field observations and photography documenting property conditions;
Analysis of historical EAV trends for the last six years (five year-to-year periods) for which data are available and final (2015-2020) from the Cook County Assessor's Office;
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City of Chicago / Madden/Wells TIF - Amendment No. 1
Review of parcel-level GIS shapefile data provided by the County;
Review of flooding study from 2IM Group.
SB Friedman examined all parcels for qualification factors consistent with requirements of the Act SB Friedman analyzed the presence or absence of each eligibility factor on a parcel-by-parcel basis or aggregate basis as applicable. The building and parcel information was then plotted on a map of the 2022 Expansion Area to determine which factors were present to a meaningful extent and reasonably distributed throughout the 2022 Expansion Area.
The 2022 Expansion Area Eligibility Report is attached hereto as Exhibit C, Appendix II
SECTION IV. REDEVELOPMENT GOALS AND OBJECTIVES A. General Goals
Add the following to the end of the list.
Facilitate the physical improvement and/or rehabilitation of existing structures and facades within the Redevelopment Project Area, and encourage the construction of new commercial, residential, civic/cultural, public, and recreational development, where appropriate;
Foster the replacement, repair, construction and/or improvement of public infrastructure where needed, to create an environment conducive to private investment;
11 Facilitate the renovation or construction of stormwater management systems and flood control within the Redevelopment Project Area,
Provide resources for streetscaping, landscaping and signage to improve the image, attractiveness and accessibility of the Redevelopment Project Area, create a cohesive identity for the Redevelopment Project Area and surrounding area, and provide, where appropriate, for buffering between different land uses and screening of unattractive service facilities such as parking lots and loading areas;
Facilitate the assembly arid preparation, including demolition and environmental clean-up, where necessary, and marketing of available sites in the Redevelopment Project Area for redevelopment and new development by providing resources as allowed by the Act;
Support the goals and objectives of other overlapping plans, including, but not limited to the 2005 Quad Communities Quality of Life Plan facilitated by Local Initiatives Support Corporation (LISC), the City's 2009 Reconnecting Neighborhoods Plan, and the 2013 Bronzeville Retail District Land Use Plan facilitated by the Chicago Metropolitan Agency for Planning (CMAP) and subsequent plans;
Coordinate available federal, state and local resources to further the goals of the Plan;
Support sustainable development practices in the Redevelopment Project Area by encouraging public and private building, site and infrastructure improvements that, embody the principals of Smart Growth, incorporate "green building" technology, are energy efficient, and utilize best management practices to manage and filter stormwater runoff in an environmentally responsible manner;
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City of Chicago / Madden/Wells TIF - Amendment No. 1
Support job training and "welfare to work" programs, and increase employment opportunities for City residents, and
Provide opportunities for locally owned, women-owned and minority-owned businesses to share in the job creation and construction opportunities associated with the redevelopment of the Redevelopment Project Area.
B. Redevelopment Objectives
Add the following to the end of the list:
12. Encourage the construction of new commercial, civic/cultural, public, and recreational development, where appropriate.
Coordinate available federal, state, and local resources to further the goals of the area.
Support sustainable development practices by encouraging public and private building, site, and infrastructure improvements that incorporate "green building" technology.
SECTION V. REDEVELOPMENT PROJECT
Overall Redevelopment Concept
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Land Use Plan
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The existing land uses of the 2022 Expansion Area, as shown in Exhibit C, Appendix I: Map 4, reflects the objectives of the Plan. Current land uses in the 2022 Expansion Area include Residential, Commercial, and Park and Open Space.
To meet the goals and objectives of this Plan, the City may acquire and assemble property throughout the Redevelopment Project Area. Land assemblage by the City may be by purchase, exchange, donation, lease, eminent domain or through the Tax Reactivation Program and may be for the purpose of (a) sale, lease, or conveyance to private developers; or (b) sale, lease, conveyance, or dedication for the construction of public improvements or facilities. Furthermore, the City may require written redevelopment agreements with developers before acquiring any properties. As appropriate, the City may devote acquired property to temporary uses until such property is scheduled for disposition and development. In connection with the City exercising its power to acquire real property, including the exercise of the power of eminent domain, under the Act in implementing the Plan, the City will follow its customary procedures of having each such acquisition recommended by the Community Development Commission (or any successor commission) and authorized by the City Council of the City. Acquisition of such real property as may be authorized by the City Council does not constitute a change in the nature of this Plan
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The proposed future land use of the Redevelopment Project Area, as shown in Exhibit C, Appendix I: Map 5,
reflects the objectives of the Plan. For the purposes of this plan, the mixed-use designation is meant to allow for a variety of uses throughout the Redevelopment Project Area. The mixed-use designation allows for the following land uses within the Redevelopment Project Area:
Commercial
Residential
Public/Private Institutional
Park/Open Space
Community Facilities
Utilities
Industrial
Right-of-Way
Development and Design Objectives - No changes
Redevelopment Improvements and Activities - No changes.
Redevelopment Project Costs
Delete the first paragraph and replace with the following:
The various redevelopment expenditures that are eligible for payment or reimbursement under the Act are reviewed below Following this review is a list of estimated redevelopment project costs that are deemed to be necessary to implement this Plan (the "Redevelopment Project Costs").
In the event the Act is amended after the date of the approval of this Plan by the City Council of Chicago to (a) include new eligible redevelopment project costs; or (b) expand the scope or increase the amount of existing eligible redevelopment project costs (such as, for example, by increasing the amount of incurred interest costs that may be paid under 65 ILCS 5/11-74.4-3(q)(TI)), this Plan shall be deemed to incorporate such additional, expanded, or increased eligible costs as Redevelopment Project Costs under the Plan, to the extent permitted by the Act. In the event of such amendment(s) to the Act, the City may add any new eligible redevelopment project costs as a line item in Amended Table 1 or otherwise adjust the line items in Amended Table 1 without amendment to this Plan, to the extent permitted by the Act. In no instance, however, shall such additions or adjustments result in any increase in the total Redevelopment Project Costs without a further amendment to this Plan.
Sources of Funds to Pay Redevelopment Project Costs - No changes.
Issuance of Obligations
The text of this subsection is hereby deleted and replaced with the following.
The City may issue obligations secured by Incremental Property Taxes pursuant to Section 11-74.4-7 of the Act. To enhance the security of a municipal obligation, the City may pledge its full faith and credit through the issuance of general obligations bonds. Additionally, the City may provide other legally permissible credit enhancements to any obligations issued pursuant to the Act
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City of Chicago / Madden/Wells TIF - Amendment No. 1
The redevelopment project shall be completed, and all obligations issued to finance redevelopment costs shall be retired, no later than December 31 of the year in which the payment to the City treasurer as provided in the Act is to be made with respect to ad valorem taxes levied in the thirty-fifth calendar year following the year in which the ordinance approving the Redevelopment Project Area is adopted
Also, the final maturity date of any such obligations which are issued may not be later than 20 years from their respective dates of issue. One or more series of obligations may be sold at one or more times in order to implement this Plan. Obligations may be issued on a parity or subordinated basis.
In addition to paying Redevelopment Project Costs, Incremental Property Taxes may be used for the scheduled retirement of obligations, mandatory or optional redemptions, establishment of debt service reserves and bond sinking funds To the extent that Incremental Property Taxes are not needed for these purposes, and are not otherwise required, pledged, earmarked or otherwise designated for the payment of Redevelopment Project Costs, any excess Incremental Property Taxes shall then become available for distribution annually to taxing districts having jurisdiction over the Redevelopment Project Area in the manner provided by the Act.
H. Valuation of the Project Area
The text of this subsection is hereby deleted and replaced with the following:
Most Recent EAV of Properties in the Project Area
The EAV for the Original Redevelopment Project Area is $1,333,582 ("Certified Base EAV") Should the City amend and include the 2022 Expansion Area, the most recent Equalized Assessed Value (EAV) of the 2022 Expansion Area will be included to calculate the incremental EAV and incremental property taxes of the parcels in the 2022 Expansion Area The 2020 EAV (the most recent year in which final assessed values and equalization factor were available) of all parcels in the 2022 Expansion Area is $0 (the "2020 Expansion Area Initial EAV"). This total EAV amount by property index number ("PIN") is summarized in Exhibit C, Appendix II - Appendix 5. The EAV is subject to verification by the Cook County Assessor's Office. The sum of the Certified Base EAV and the 2020 Expansion Area Initial EAV and after verification, certified by the Cook County Clerk, shall become the "Certified 2022 EAV" from which all incremental property taxes in the Redevelopment Project Area will be calculated by the County.
Anticipated Equalized Assessed Valuation
Based upon the expansion of the boundaries of the Redevelopment Project Area, numerous blighting factors will be eliminated and growth and development of the Redevelopment Project Area will occur in accordance with the Redevelopment Agreement(s) between the City and businesses in the Redevelopment Project Area and other interested parties. It is estimated that the total EAV of the real property following completion of all phases of the redevelopment project in the Redevelopment Project Area will be approximately $92.5 million.
Add the following new subsection as follows.
I. Strategy
The goals and objectives of the Plan are to be achieved through an integrated and comprehensive strategy that leverages public resources to stimulate additional private investment. The underlying strategy is to use tax
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City of Chicago / Madden/Wells TIF - Amendment No. 1
increment generated by the Redevelopment Project Area, as well as other funding sources, to reinforce and encourage further private investment.
SECTION VI. LACK OF GROWTH AND DEVELOPMENT THROUGH INVESTMENT BY PRIVATE ENTERPRISE
Add the following language to the end of this section.
Refer to Exhibit C, Appendix II - Appendix 3 for similar findings for the 2022 Expansion Area.
SECTION VII. FINANCIAL IMPACT-No changes.
SECTION VIII. DEMAND ON TAXING DISTRICT SERVICES - No changes.
SECTION IX. CONFORMITY OF THE REDEVELOPMENT PLAN FOR THE PROJECT AREA TO LAND USES APPROVED BY THE PLANNING COMMISSION OF THE CITY - No changes.
SECTION X. PHASING AND SCHEDULING
The text of this section is hereby deleted and replaced with the following:
Each private project within the Redevelopment Project Area receiving TIF benefits shall be governed by the terms of a written redevelopment agreement entered into by a designated developer and the City This Plan is estimated to be completed, and all obligations issued to finance redevelopment costs are estimated to be retired, no later than December 31 of the year in which the payment to the City provided in the Act is to be made with respect to ad valorem taxes levied in the thirty-fifth calendar year following the year in which the ordinance approving the Redevelopment Project Area was adopted. This Plan is estimated to be completed, and all obligations issued to finance redevelopment costs shall be retired no later than December 31, 2039.
SECTION XI. PROVISIONS FOR AMENDING THIS REDEVELOPMENT PLAN - No changes.
SECTION XII. COMMITMENT TO FAIR EMPLOYMENT PRACTICES AND AFFIRMATIVE ACTION PLAN
Item B of Paragraph 1 of this section is hereby deleted and replaced with the following:
B) Redevelopers must meet the City's standards for participation of 26 percent Minority Business Enterprises and 6 percent Woman Business Enterprises and the City Resident Construction Worker Employment Requirement as required in redevelopment agreements.
SECTION XIII. HOUSING IMPACT - No changes.
EXHIBIT II. MADDEN/WELLS REDEVELOPMENT PROJECT AREA ESTIMATED REDEVELOPMENT PROJECT COSTS
Add the following to the end of this exhibit:
SB Friedman Development Advisors
City of Chicago / Madden/Wells TIF - Amendment No. 1
REDEVELOPMENT PROJECT AREA ESTIMATED REDEVELOPMENT PROJECT COSTS
Amended Table 1 represents the eligible project costs for the Redevelopment Project Area as defined in the Act. This total in budget represents the upper limit on the potential costs that may be reimbursed or expended over the 35-year life of the Redevelopment Project Area. These funds are subject to the number of projects, the amount of TIF revenues generated, and the City's willingness to fund proposed projects on a project-by-project basis.
The total eligible redevelopment project costs define an upper expenditure limit that may be funded using tax increment revenues, exclusive of capitalized interest, issuance costs, interest, and other financing costs. The totals of line items are not intended to place a limit on the described expenditures Adjustments to the estimated line-item costs are expected and may be made administratively by the City without amendment to this Redevelopment Plan, either increasing or decreasing line item costs because of changed redevelopment costs and needs. Each individual project cost will be re-evaluated in light of projected private development and resulting incremental tax revenues as it is considered for public financing under the provisions of the Act. The estimated eligible costs of this Redevelopment Plan are shown in Amended Table 1.
Additional funding in the form of state and federal grants, private developer contributions, and other outside sources may be pursued by the City as a means of financing improvements and facilities within the Redevelopment Project Area.
Amended Table 1: Estimated TIF-Eligible Redevelopment Project Costs
Eligible Expense [1] Estimated Project Costs .
Analysis, Administration, Marketing & Studies $600,000
Property Assembly $39,600,000
Rehabilitation of Existing Buildings & Affordable Housing Construction $39,600,000
Public Works & Improvements $39,600,000
Relocation Costs $100,000
Financing Costs $100,000
Job Training $200,000
Day Care Services $100,000
Interest Subsidy $100,000
TOTAL REDEVELOPMENT PROJECT COSTS [2] [3] $120,000,000 [4]
[1] This category may also include paying for or reimbursing (i) an elementary, secondary or unit school district's increased costs attributed to assisted housing units, and (n) capital costs of taxing districts impacted by the redevelopment of the Project Area As permitted by the Act, to the extent the City by written agreement accepts and approves the same, the City may pay, or reimburse all, or a portion of a taxing district's capital costs resulting from a redevelopment project necessarily incurred or to be incurred within a taxing district in furtherance of the objectives of the Plan
[2] Total Redevelopment Project Costs represent an upper limit on expenditures that are to be funded using tax increment revenues and exclude any additional financing costs, including any interest expense, capitalized interest and costs associated with optional redemptions These .costs are subject to prevailing market conditions and are in addition to Total Redevelopment Project Costs. Within this limit, adjustments may be made in line items without amendment to the Plan, to the extent permitted by the Act
[3] The amount of the Total Redevelopment Project Costs that can be incurred in the RPA will be reduced by the amount of redevelopment project costs incurred in contiguous redevelopment project areas, or those separated from the RPA only by a public nght-or-way, that are permitted under the Act to be paid, and are paid, from incremental property taxes generated in the Project Area, but will not be reduced by the amount of redevelopment project costs incurred in the Project Area which are paid from incremental property taxes generated in contiguous redevelopment project areas or those separated from the Project Area only by a public right-of-way
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City of Chicago / Madden/Wells TIF - Amendment No. 1
[4] All costs are in 2022 dollars and may be increased by 5% after adjusting for annual inflation reflected in the Consumer Price Index (CPI), published by the U S Department of Labor Additional funding from other sources such as federal, state, county, or local grant funds may be utilized to supplement the City's ability to finance Redevelopment Project Costs identified above
EXHIBIT III. 2001 EQUALIZED ASSESSED VALUATION BY TAX PARCEL - No changes.
FIGURE II. HISTORIC RESOURCES MAP - No changes
FIGURE III. LAND-USE PLAN - No changes.
FIGURE IV. COMMUNITY FACILITIES MAP - No changes.
EXHIBIT IV. MADDEN/WELLS REDEVELOPMENT PROJECT AREA ELIGIBILITY REPORT - No changes.
EXHIBIT V. MADDEN/WELLS REDEVELOPMENT PROJECT AREA TAX INCREMENT FINANCING HOUSING IMPACT STUDY - No changes.
EXHIBIT VI. NORTH KENWOOD/OAKLAND CONVERSATION AREA ACQUISITION MAP - No changes.
Exhibit B: CDC Resolution - Nochanges
Adding exhibit with the following appendices:
Exhibit C: 2022 Additional Documents
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City of Chicago / Madden/Wells TIF - Amendment No. 1
APPENDIX 1: Maps 1-5
(SEE ATTACHED)
SB Friedman Development Advisors
City of Chicago / Madden/Wells TIF - Amendment No. 1
Map 1: Context
tWi Redevelopment Project Area Existing TIF Districts
Source City of Chicago, Cook County Assessor, Esn, SB Friedman
SB Friedman Development Advisors
City of Chicago / Madden/Wells TIF - Amendment No. 1 Map 2: Original Redevelopment Project Area Boundary and 2022 Expansion Area Boundary
E 35TH ST
i BROWNING
0.1 Miles
ft&ri 2022 Expansion Area
I I Original Redevelopment Project Area
Source City of Chicago, Cook County Assessor, Esn, SB Friedman
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City of Chicago / Madden/Wells TIF - Amendment No. 1
Map 3: Vacant and ROW Parcels in 2022 Expansion Area
E BROWNING AVE
I I 2022 Expansion Area
I I Original Redevelopment Project Area
RXl Right-of-Way Parcels
I I Vacant Parcels
Source" City of Chicago, Cook County Assessor, Esn, SB Friedman
SB Friedman Development Advisors
City of Chicago / Madden/Wells TIF - Amendment No. 1
Map 4: Existing Land Use in the 2022 Expansion Area
|
E BROWNING AVE
¦¦ J Original Redevelopment Project Area
[ I Vacant
E*2 Park
Source: City of Chicago, Cook County Assessor, Esri, SB Friedman
SB Friedman Development Advisors
14
City of Chicago / Madden/Wells TIF - Amendment No. 1
Map 5: Proposed Future Land Use
E 3STH ST
E BROWNING
0.1 Miles
t*xVi Redevelopment Project Area [ j Mix of uses
Source: City of Chicago, Cook County Assessor, Esri, SB Friedman
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City of Chicago / Madden/Wells TIF - Amendment No. 1
APPENDIX II: 2022 Expansion Area Eligibility Report
This report summarizes the analyses and findings of the consultants' work, which is the responsibility of the Consultant. The Consultant has prepared this report with the understanding that the City would rely 1) on the findings and conclusions of this report in proceeding with the designation of the 2022 Expansion Area as an addition to the Original Redevelopment Project Area under the Act, and 2) on the fact that the Consultant has obtained the necessary information to conclude that the 2022 Expansion Area can be designated as an expansion of the Original Redevelopment Project Area in compliance with the Act.
This report concludes that the proposed 2022 Expansion Area is eligible for designation as a "blighted area" for vacant land per the Act.
The 2022 Expansion Area consists of 182 parcels: 117 are vacant and 65 are parcels comprise a portion of Ellis Park which we have classified as ROW parcels. For the purposes of eligibility, ROW parcels have not been analyzed.
Provisions of the Illinois Tax Increment Allocation Redevelopment Act
Under the Act, two (2) primary avenues exist to establish eligibility for an area to permit the use of TIF for redevelopment1 declaring an area as a "blighted area" and/or a "conservation area." "Blighted areas" are those improved or vacant areas with blighting influences that are impacting the public safety, health, morals, or welfare of the community, and are substantially impairing the growth of the tax base in the area. "Conservation areas" are those improved areas that are deteriorating and declining and soon may become blighted. A description of the statutory provisions of the Act is provided below.
Factors for Vacant Land
According to the Act, there are two ways by which vacant land can be designated as "blighted." One way is to find that at least two (2) of six (6) factors from the "Two-Factor Test" are present to a meaningful extent and reasonably distributed throughout the Expansion Area. The second way is to find at least one (1) of the six (6) factors under the "One-Factor Test" is present to a meaningful extent and reasonably distributed throughout the 2022 Expansion Area.
TWO-FACTOR TEST
Under the provisions of the "blighted area" section of the Act, if the land is vacant, an area qualifies as "blighted' if a combination of two (2) or more of the following factors may be identified, which combine to impact the sound growth of the 2022 Expansion Area.
Obsolete Platting of Vacant Land
Diversity of Ownership
Tax and Special Assessment Delinquencies
Deterioration of Structures or Site Improvements in Neighboring Areas adjacent to the Vacant Land
Environmental Contamination
Lack of Growth in EAV
SB Friedman Development Advisors
City of Chicago / Madden/Wells TIF - Amendment No. 1
ONE-FACTOR TEST
Under the provisions of the "blighted area" section of the Act, if the land is vacant, an area qualifies as "blighted" if one (1) or more of the following factors is found.
The area contains unused quarries, strip mines or strip mine ponds;
The area contains unused rail yards, rail track or railroad rights-of-way;
The area, prior to its designation, is subject to or contributes to chronic flooding;
The area contains unused or illegal dumping sites,
The area was designated as a town center prior to January 1, 1982, is between 50 and 100 acres, and is 75% vacant land; or
The area qualified as blighted prior to becoming vacant.
Methodology Overview
SB Friedman conducted the following analyses to determine whether the 2022 Expansion Area is eligible for designation as a "blighted area" for vacant land per the Act:
Parcel-by-parcel field observations and photography documenting property conditions;
Analysis of historical EAV trends for the last six years (five year-to-year periods) for which data are available and final (2015-2020) from the Cook County Assessor's Office;
Review of parcel-level GIS shapefile data provided by the County;
Review of flooding study from 2IM Group
SB Friedman examined all parcels for qualification factors consistent with requirements of the Act. SB Friedman analyzed the presence or absence of each eligibility factor on a parcel-by-parcel basis or aggregate basis as applicable. The building and parcel information was then plotted on a map of the 2022 Expansion Area to determine which factors were present to a meaningful extent and reasonably distributed throughout the 2022 Expansion Area.
Blighted Area Findings: Vacant Parcels
Per SB Friedman's analysis, the vacant portion of the 2022 Expansion Area is eligible to be designated as a "blighted area" per both the one-factor and two-factor findings. These findings are detailed below and shown in Map 1 at the end of this eligibility section.
ONE-FACTOR BLIGHTED FINDING
2IM Group, a third-party engineer, has indicated that runoff from 100% of the 2022 Expansion Area contributes to flooding within the watershed. This factor is found to be present to a meaningful extent and reasonably distributed throughout the 2022 Expansion Area
TWO-FACTOR BLIGHTED FINDING
The following two factors were found to be present-
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City of Chicago / Madden/Wells TIF - Amendment No. 1
1. LACK OF GROWTH IN EAV
The Act defines lack of growth in EAV as having the total EAV of the 2022 Expansion Area under evaluation either declined for at least three (3) of the last five (5) year-to-year periods; or increased at an annual rate that was less than the balance of the City for at least three (3) of the past five (5) year-to-year periods; or increased at an annual rate that was less than the Consumer Price Index for at least three (3) of the past (5) year-to-year periods. A full definition is provided in Appendix 2.
SB Friedman tabulated the EAV history of all parcels in the 2022 Expansion Area for the previous six years (five year-to-year periods) using data provided by the Cook County Assessor and Cook County Clerk. The most recent year for which final information was available was 2020. SB Friedman's analysis identified a lack of EAV growth within the 2022 Expansion Area in accordance with the following criteria, as defined in the Act:
1 The EAV growth rate of the 2022 Expansion Area parcels has been less than the growth rate of the balance of the City for five (5) of the last five (5) year-to-year periods; and
2. The EAV growth rate of the 2022 Expansion Area parcels has been less than the growth rate of the Consumer Price Index for five (5) of the last five (5) year-to-year periods.
This eligibility factor is present to a meaningful extent and assessed area-wide throughout the 2022 Expansion Area. A summary of SB Friedman's findings is presented in Table 1 below.
Table 1: Annual Percentage Change in EAV, 2015-2020
2015 2016 2017' 2018 2019 : 2020
Expansion Area Parcels EAV $0 0 M $0.0 M $0.0 M $0.0 M $0.0 M $0.0 M
Percent Change ... 0 0% 0.0% 0 0% 0.0% 0.0%
City EAV Less Expansion Area Parcels $71.0 B $74.0 B $76.8 B $86 3 B $87.8 B $89.5 B
Change in City EAV Less Expansion Area Parcels — 4.3% 3.7% 12 5% 1.7% 19%
Expansion Area Parcels -Growth Less Than City — YES YES YES YES YES
Change in CPI [1] - 0.7% ! 19% 18% 1.5% 1.1%
Expansion Area Parcels -Growth Less Than CPI YES YES YES YES YES
[1] Consumer Price Index for all urban consumers and all items, in theChicago-Naperville-EIgm, IL-IN-WI area, not seasonally adjusted. Source: Cook County Assessor; Cook County Clerk, SB Friedman, U.S Bureau of Labor Statistics CPI data for Chicago-Naperville-Elgin, IL-IN-WI metropolitan area
2. OBSOLETE PLATTING
This includes parcels of limited or narrow size, or configurations of parcels of irregular size or shape that would be difficult to develop on a planned basis and in a manner compatible with contemporary standards and requirements, or platting that failed to create rights-of-ways for streets or alleys or that created inadequate right-of-way widths for streets, alleys or other public rights-of-way, or that omitted easements for public utilities
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City of Chicago / Madden/Wells TIF - Amendment No. 1
Obsolete platting was found to be present to a meaningful extent and reasonably distributed throughout the 2022 Expansion Area. Eighty-eight of the 117 parcels (75% of 2022 Expansion Area parcels, a combined 15 acres) do not have adequate right of way, alleys, or typical parcels sizes/shapes in line with current City standards. Obsolete platting can make it more difficult to attract new development and businesses. This factor was found to be meaningfully present and reasonably distributed throughout the 2022 Expansion Area.
Summary of Findings
SB Friedman has found that the 2022 Expansion Area qualifies to be designated as a "blighted area" for vacant land. The vacant land is eligible under a one-factor test due to flooding and contribution to flooding in the 2022 Expansion Area, and is eligible under a two-factor test due to a lack of growth in EAV and obsolete platting.
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City of Chicago / Madden/Wells TIF - Amendment No. 1
Map 1: Vacant Land Two-Factor: Obsolete Platting
E BROWNING AVE
0.1 Miles
I 12022 Expansion Area 9H Obsolete Platting I I Vacant Parcels FZ~ Right-of-Way Parcels
Source City of Chicago, Cook County Assessor, Esn, SB Friedman
SB Friedman Development Advisors
Appendix 1: Limitations of the Eligibility Report and
Consultant Responsibilities
The Eligibility Report covers events and conditions that were determined to support the designation of the 2022 Expansion Area as a "blighted area" under the Act at the completion of our field research in March-May 2022 and not thereafter. These events or conditions include, without limitation, governmental actions and additional developments.
This Eligibility Report, and Amendment No. 1, (the "Report") summarizes the analyses and findings of the consultants' work, which is the responsibility of the Consultant. The Consultant has prepared this report with the understanding that the City would rely 1) on the findings and conclusions of this report in proceeding with the designation of the 2022 Expansion Area as an addition to the Original Redevelopment Project Area under the Act, and 2) on the fact that the Consultant has obtained the necessary information to conclude that the 2022 Expansion Area can be designated as an expansion of the Original Redevelopment Project Area in compliance with the Act.
The Report is based on estimates, assumptions and other information developed from research of the market, knowledge of the industry, and meetings during which we obtained certain information. The sources of information and bases of the estimates and assumptions are stated in the Report. Some assumptions inevitably will not materialize, and unanticipated events and circumstances may occur. Therefore, actual results achieved will necessarily vary from those described in our Report, and the variations may be material.
The terms of this engagement are such that we have no obligation to revise the Report to reflect events or conditions which occur subsequent to the date of the Report. These events or conditions include, without limitation, economic growth trends, governmental actions, additional competitive developments, interest rates and other market factors. However, we will be available to discuss the necessity for revision in view of changes in economic or market factors.
Preliminary Tax Increment Financing (TIF) projections were prepared for the purpose of estimating the approximate level of increment that could be generated by proposed projects and other properties within the proposed TIF District boundary and from inflationary increases in value These projections were intended to provide an estimate of the final equalized assessed value (EAV) of the Original Redevelopment Project Area.
As such, our report and the preliminary projections prepared under this engagement are intended solely for the City's information, for the purpose of amending a TIF District. These projections should not be relied upon for purposes of evaluating potential debt obligations or by any other person, firm or corporation, or for any other purposes. Neither the Report nor its contents, nor any reference to our Firm, may be included or quoted in any offering circular or registration statement, appraisal, sales brochure, prospectus, loan or other agreement or document intended for use in obtaining funds from individual investors, without prior written consent.
SB Friedman Development Advisors
Appendix 2: Glossary
Factors for Vacant Land - One Factor Test
Under the provisions of the "blighted area" section of the Act, if the land is vacant, an area qualifies as "blighted" if one (1) or more of the following factors is found to be present to a meaningful extent.
The area contains unused quarries, strip mines or strip mine ponds;
The area contains unused rail yards, rail track, or railroad rights-of-way;
The area, prior to its designation, is subject to or contributes to chronic flooding;
The area contains unused or illegal dumping sites;
The area was designated as a town center prior to January 1,1982, is between 50 and 100 acres, and is 75% vacant land; or
The area qualified as blighted prior to becoming vacant.
Factors for Vacant Land - Two Factor Test
Obsolete Platting of Vacant Land. This includes parcels of limited or narrow size, or configurations of parcels of irregular size or shape that would be difficult to develop on a planned basis and in a manner compatible with contemporary standards and requirements, or platting that failed to create rights-of-ways for streets or alleys or that created inadequate right-of-way widths for streets, alleys or other public rights-of-way, or that omitted easements for public utilities.
Diversity of Ownership. Diversity of ownership is when adjacent properties are owned by multiple parties. This factor applies when diversity of ownership of parcels of vacant land is sufficient in number to retard or impede the ability to assemble the land for development
Tax and Special Assessment Delinquencies. Tax and special assessment delinquencies exist or the property has been the subject of tax sales under the Property Tax Code within the last five years
Deterioration of Structures or Site Improvements in Neighboring Areas adjacent to the Vacant Land.
Evidence of structural deterioration and area disinvestment in blocks adjacent to the vacant land may substantiate why new development had not previously occurred on the vacant parcels.
Environmental Contamination. The area has incurred Illinois Environmental Protection Agency or United States Environmental Protection Agency remediation costs for, or a study conducted by an independent consultant recognized as having expertise in environmental remediation, has determined a need for, the cleanup of hazardous waste, hazardous substances or underground storage tanks required by state or federal law, provided that the remediation costs constitute a material impediment to the development or redevelopment of the redevelopment project area
Lack of Growth in Equalized Assessed Value. The total equalized assessed value ("EAV") of the proposed redevelopment project area has declined for three (3) of the last five (5) calendar years prior to the year in which the redevelopment project area is designated; or is increasing at an annual rate that is less than the balance of the municipality for three (3) of the last five (5) calendar years for which information is available; or
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City of Chicago / Madden/Wells TIF - Amendment No. 1
is increasing at an annual rate that is less than the Consumer Price Index for All Urban Consumers published by the United States Department of Labor or successor agency for three (3) of the last five (5) calendar years prior to the year in which the redevelopment project area is designated
SB Friedman Development Advisors
Appendix 3: Required Tests and Findings
As a part of establishing eligibility of the 2022 Expansion Area, the following additional findings must be made:
FINDING 1: LACK OF GROWTH AND DEVELOPMENT THROUGH PRIVATE INVESTMENT
The City is required to evaluate whether the 2022 Expansion Area has been subject to growth and development through private investment and must substantiate a finding of lack of such investment. No private investment has occurred in the 2022 Expansion Area during the past five years (2015-2020), as demonstrated by the following:
• LACK OF GROWTH IN EAV. In order to assess whether the 2022 Expansion Area has been subject to growth and private investment, SB Friedman analyzed growth in property taxable value in the rest of the City and compared that growth to the trends within the 2022 Expansion Area. Between 2015 and 2020, EAV remained unchanged across all properties within the 2022 Expansion Area. Within the City, excluding the 2022 Expansion Area, values increased by 26% over the last five years. Thus, based on this data, the 2022 Expansion Area has significantly lagged behind the rest of the City and has not been subject to growth and development through investment by private enterprise.
Finding: The 2022 Expansion Area, has not been subject to growth and development through investment by private enterprise
FINDING 2: "BUT FOR..." REQUIREMENT
The City is required to find that the 2022 Expansion Area would not reasonably be anticipated to be developed without the adoption of this Amendment No. 1 to the Plan.
Without the support of public resources, the redevelopment objectives for the Plan would most likely not be realized Public resources to assist with public improvements and project-specific development costs are essential to leverage private investment and facilitate redevelopment.
Finding: But for the adoption of this Amendment No. 7, critical resources will be lacking to support the redevelopment of the 2022 Expansion Area, and the 2022 Expansion Area would not reasonably be anticipated to be developed.
FINDING 3: CONTIGUITY
No redevelopment project area can be designated unless a plan and project are approved prior to the designation of the area, and the area can only include those contiguous parcels that are to be substantially benefited by the proposed redevelopment project improvements.
Finding: The Redevelopment Project Area includes only those contiguous parcels of real property that are expected to benefit substantially from the Plan
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City of Chicago / Madden/Wells TIF - Amendment No. 1
FINDING 4: CONFORMANCE TO THE PLANS OF THE CITY
The Plan must conform to strategic economic development plans, or include land uses that have been approved by the City of Chicago Plan Commission
The proposed land uses described in the Plan will be approved by the Chicago Plan Commission prior to its adoption by the City Council.
Finding The Plan's proposed land uses will be approved by the Chicago Plan Commission prior to its adoption by the City Council.
FINDING 5: HOUSING IMPACT AND RELATED MATTERS
As set forth in the Act, if a redevelopment plan for a redevelopment project area would result in the displacement of residents from 10 or more inhabited residential units, or if the redevelopment project area contains 75 or more inhabited residential units and a municipality is unable to certify that no displacement will occur, the municipality must prepare a Housing Impact Study and incorporate the study into the redevelopment project plan.
The 2022 Expansion Area does not have any existing housing units within its boundary. Thus, no additional Housing Impact Study has been conducted or included in the Plan (as amended by Amendment No. 1).
Finding SB Friedman found that there are currently no housing units within the 2022 Expansion Area. Therefore, a Housing Impact Study is not required under the Act.
FINDING 6: ESTIMATED DATES OF COMPLETION
As set forth in the Act, the redevelopment plan must establish the estimated dates of completion of the redevelopment project and retirement of obligations issued to finance redevelopment project costs.
Finding The estimated dates of completion of the project and retirement of obligations are described in "Phasing and Scheduling of the Redevelopment" above. This Plan (as amended by Amendment No. V is estimated to be completed, and all obligations issued to finance redevelopment costs shall be retired no later than December 31, 2039 if the ordinances establishing the 2022 Expansion Area are adopted during 2022.
SB Friedman Development Advisors
City of Chicago / Madden/Wells TIF - Amendment No. 1
Appendix 5: 2022 Expansion Area Boundary Legal
Description
All that part of the southeast quarter of Section 34, and the west half of the southwest quarter of Section 35 in Township 39 North, Range 14 East of the Third Principal Meridian and the east half of the northeast quarter of Section 3 and the west half of the northwest quarter of Section 2 in Township 38 North, Range 14 East of the Third Principal Meridian bounded and described as follows:
beginning at the point of intersection of the north line of East Pershing Road with the westerly line of South Vincennes Avenue; thence northeasterly along the westerly line of said South Vincennes Avenue to the northerly line of Lot 34 in Oakwood Shores Phase 2, being a resubdivision of various lots and parts of lots in various subdivisions and resubdivisions together with vacated roads and vacated alleys in part of the southeast quarter of Section 34, Township 30 North, Range 14 East of the Third Principal Meridian, according to the plat thereof recorded December 11, 2007 as document number 0734522111, in Cook County, Illinois; thence northwesterly along the northerly line of said lot 34 to the northwest corner thereof; thence westerly to the northeast corner of Lot 35 in said Oakwood Shores Phase 2, said corner being on the south line of an existing alley lying south of East 37th Place; thence westerly along the south line of said existing alley to the intersection of said south line with the east line of an existing alley lying east of South Rhodes Avenue; thence southerly along the east line of said existing alley to the south line of East 38th Street; thence westerly along the south line of said East 38th Street to the east line of said South Rhodes Avenue; thence northerly along the easterly line of said South Rhodes Avenue to the north line of East 37th Street; thence westerly to the intersection of the north line of said East 37th Street with the west line of said South Rhodes Avenue; thence northerly along the west line of said South Rhodes Avenue to the south line of East Browning Avenue, thence easterly along the south line of said East Browning Avenue to the westerly line of said South Vincennes Avenue; thence southwesterly along the westerly line of said South Vincennes Avenue to the westerly extension of the center line of vacated East 36th Street; thence easterly along the center line of said vacated East 36th Street and said line extended to the easterly line of South Cottage Grove Avenue; thence southeasterly along the easterly line of said South Cottage Grove Avenue to the northerly line of said East 37th Street; thence northeasterly along the northerly line of said East 37th Street to the westerly line of the Illinois Central Railroad right-of-way in the west half of the Southwest Quarter of Section 35, Township 39 North, Range 14 East of the Third Principal Meridian; thence southeasterly along said westerly line of the Illinois Central Railroad right-of-way to the southerly line of East Oakwood Boulevard, thence westerly along said southerly line of East Oakwood Boulevard to the easterly line of Lot 1 in Bensley's Subdivision of Lots 15 and 16 of the Assessor's Division of Block 7 in Cleaverville, a subdivision of the north part of Fractional Section 2, Township 38 North, Range 14 East of the Third Principal Meridian and the south part of Section 35, Township 39 North, Range 14 East of the Third Principal Meridian; thence southerly along said easterly line of Lot 1 in Bensley's Subdivision and along the southerly extension thereof and along the easterly line of Lot 12 in said Bensley's Subdivision to the southerly line of said Bensley's Subdivision; thence westerly along said southerly line of Bensley's Subdivision to the easterly line of South Ellis Avenue; thence southerly along said easterly line of South Ellis Avenue to the easterly extension of the southerly line of the northerly 5 feet of Lot 3 in the subdivision by L.C.P. Freer of Block 6 of aforesaid Cleaverville; thence westerly along said easterly extension and the southerly line of the northerly 5 feet of Lot 3 in the subdivision by LC. P. Freer of Block 6 of Cleaverville to the westerly line of said Lot 3; thence southerly along said westerly line of Lot 3 to the southerly line of Lot "A" in the consolidation of the north 10 feet of Lot 8, all of Lot 9 and the south 25 feet of Lots 10 and 11 in the subdivision of Block 6 in aforesaid Cleaverville; thence westerly along said southerly line of Lot "A" and along the westerly extension
SB Friedman Development Advisors
City of Chicago / Madden/Wells TIF - Amendment No. 1
thereof to the westerly line of South Drexel Boulevard; thence northerly along said westerly line of South Drexel Boulevard to the point of intersection of said westerly line of South Drexel Boulevard with the easterly line of South Cottage Grove Avenue; thence north along the northerly extension of the west line of Block 16 in aforesaid Cleaverville, said west line of Block 16 being also the east line of South Cottage Grove Avenue, to the easterly extension of the south line of Lots 10,11,14 and 15 in Block 1 of Cleaverville Addition, being a subdivision of the north half of the Northeast Quarter of Section 3, Township 38 North, Range 14 East of the Third Principal Meridian, lying east of South Vincennes Avenue, said south line of Lots 10,11,14 and 15 in Block 1 of Cleaverville Addition being also the north line of East Oakwood Boulevard; thence west along said easterly extension and the north line of East Oakwood Boulevard to the east line of South Langley Avenue; thence north along said east line of South Langley Avenue and along the northerly extension thereof to the north line of East Pershing Road; thence west along said north line of East Pershing Road to the point of beginning at point of intersection of the north line of East Pershing Road with the westerly line of South Vincennes Avenue, all in the City of Chicago, Cook County, Illinois.
SB Friedman Development Advisors
Appendix 5: List of PINs in 2022 Expansion Area
Record # PIN 2020 EAV |109|17344030010000 $0 |109|17344030020000 $0 |109|17344030030000 $0 |109|17344030060000 $0 |109|17344030070000 $0 |109|17344030080000 $0 |109|17344030090000 $0 |109|17344030100000 $0 |10 9|17344030110000 $0
10 17344030120000 $0
11 17344030130000 $0
12 17344030140000 $0
13 17344030150000 $0
14 17344030160000 $0
15 17344030170000 $0
16 17344030180000 $0
17 17344030190000 $0
18 17344030200000 $0
19 17344030210000 $0
20 17344030220000 $0
21 17344030230000 $0 ¦
22 17344030240000 $0
23 17344030250000 $0
24 17344030260000 $0
25 17344030280000 $0
26 17344030290000 $0
27 17344030300000 $0
28 17344030310000 $0
29 17344030320000 $0
30 17344030330000 $0
31 17344030340000 $0
32 17344030350000 $0
33 17344030360000 $0
34 17344030370000 $0
35 17344030380000 $0
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City of Chicago / Madden/Wells TIF - Amendment No. 1
Record # PIN 2020 EAV
36 17344030390000 $0
37 17344030400000 $0
38 17344030410000 $0
39 17344030420000 $0
40 17344030430000 $0
41 17344030440000 $0
42 17344030450000 $0
43 17344030460000 $0
44 17344030470000 $0
45 17344030480000 $0
46 17344030490000 $0
47 17344030500000 $0
48 17344030510000 $0
49 17344030520000 $0
50 17344030530000 $0
51 17344030540000 $0
52 17344030550000 $0
53 17344030560000 $0
54 17344030570000 $0
55 17344030580000 $0
56 17344030590000 $0
57 17344030600000 $0
58 17344030610000 $0
59 17344030620000 $0
60 17344030630000 $0
61 17344030640000 $0
62 17344030650000 $0
63 17344030660000 $0
64 17344030670000 $0
65 17344030680000 $0
66 17344040230000 $0
67 17344040400000 $0
68 17344040610000 $0
69 17344040870000 $0
70 17344040880000 $0
71 17344040890000 $0
72 17344040900000 $0
73 17344040910000 $0
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City of Chicago / Madden/Wells TIF - Amendment No. 1
Record # PIN 2020 EAV J
74 17344040920000 $0
75 17344040930000 $0
76 17344040940000 $0
77 17344040950000 $0
78 17344040960000 $0
79 17344040970000 $0
80 17344040980000 $0
81 17344040990000 $0
82 17344080010000 $0
83 17344080020000 $0
84 17344080030000 $0
85 17344080040000 $0
86 17344080050000 $0
87 17344080060000 $0
88 17344080070000 $0
89 17344080080000 $0
90 17344080090000 $0
91 17344080100000 $0
92 17344080110000 $0
93 17344080120000 $0
94 17344080130000 $0
95 17344080140000 $0
96 17344080150000 $0
97 17344080160000 $0
98 17344080170000 $0
99 17344080180000 $0
100 17344080190000 $0
101 17344080200000 $0
102 17344080210000 $0
103 17344080220000 $0
104 17344080230000 $0
105 17344080240000 $0
106 17344080250000 $0
107 17344080260000 $0
108 17344080270000 $0
109 17344080280000 $0
110 17344080290000 $0 .
111 17344080300000 $0
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City of Chicago / Madden/Wells TIF - Amendment No. 1
Record # PIN 2020 EAV
112 17344080310000 $0
113 17344080320000 $0
114 17344080330000 $0
115 17344080350000 $0
116 17344080360000 $0
117 17344080370000 $0
118 17344080380000 $0
119 17344080390000 $0
120 17344080400000 $0
121 17344080410000 $0
122 17344080420000 $0
123 17344080430000 $0 '
124 17344080440000 $0
125 17344080450000 $0
126 17344080460000 $0
127 17344080470000 $0
128 17344080480000 $0
129 17344080490000 $0
130 17344080500000 $0
131 17344080510000 $0
132 17344080520000 $0
133 17344080530000 $0
134 17344080540000 $0
135 17344080550000 $0
136 17344080560000 $0
137 17344080570000 $0
138 17344080580000 $0
139 17344080590000 $0
140 17344080600000 $0
141 17344080610000 $0
142 17344080620000 $0
143 17344080630000 $0
144 17344080640000 $0
145 17344080650000 $0
146 17344080660000 $0
147 17344140610000 $0
148 17344140620000 $0
149 17344140630000 $0
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PIN 2020 EAV
150 17344140640000 $0
151 17344140650000 $0
152 17344140660000 $0
153 17344140670000 $0
154 17344140680000 $0
155 17344140690000 so
156 17344140700000 $0
157 17344140710000 $0
158 17344140720000 $0
159 17344140730000 $0
160 17344140740000 $0
161 17344270010000 $0
162 17344270020000 $0
163 17344270030000 $0
164 17344270040000 $0
165 17344270050000 $0
166 17344270060000 $0
167 17344270070000 $0
168 17344270080000 $0
169 17344270090000 $0
170 17344270100000 $0
171 17344270110000 $0
172 17344270120000 $0
173 17344270130000 $0
174 17344270140000 $0
175 17344270150000 $0
176 17344270160000 $0
177 17344270170000 $0
178 17344270180000 $0
179 17344270190000 $0
180 17344270200000 $0
181 17344270210000 $0
182 17344270220000 $0
183 17344270240000 $0
184 17344270250000 $0
185 17344270260000 $0
186 17344270270000 $0
187 17344270280000 $0
SB Friedman Development Advisors
City of Chicago / Madden/Wells TIF - Amendment No. 1
Record # PIN 2020 EAV
188 17344270290000 $0
189 17344270300000 $0
190 17344280010000 $0
191 17344280020000 $0
192 17344280030000 $0
193 17344280040000 $0
194 17344280050000 $0
195 17344280060000 $0
196 17344280070000 $0
197 17344280110000 $0
198 17344280120000 $0
199 17344280130000 $0
200 17344280140000 $0
201 17344280150000 $0
202 17344280160000 $0
203 17344290010000 $0
204 17344290020000 $0
205 17344290030000 $0
206 17344290040000 $0
207 17344290050000 $0
208 17344290060000 $0
209 17344290070000 $0
210 17344290090000 $0
TOTAL $0
Source: Cook County Assessor, SB Friedman
SB Friedman Development Advisors