Ordinance O2025-0015998
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Support of Class 7(a) Tax incentive for property at 1840 E 71st St
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The City of Chicago's Department of Planning and Development recommended Class 7a designation for Urban Core, Inc.'s renovation in the 71st/Stony Island Redevelopment Project Area, leased by Studio Yogi, LLC and South Shore Works. The project meets Cook County Tax Incentive Ordinance eligibility factors, with expected increases in property tax revenue and employment. The Commissioner and Corporation Counsel are authorized to finalize the Redevelopment Agreement, effective upon passage.
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Additional Documents
- O2025-0015998 EDS.pdf
- O2025-0015998 Exhibit A - Legal Description.pdf
- O2025-0015998 Exhibit B - Redevelopment Agreement.pdf
- Tax Incentives Transmittal Letter 3-12-25.pdf