January 10, 2019
Logistics Property Company has acquired 102 acres of land in Country Club Hills, IL for its LogiPark 57-80 project. Terms were not disclosed. Located at the convergence of I-57 and I-80, the site is one of the largest undeveloped contiguous properties in Cook County.
Significant financial incentives offered through a public private partnership include Tax Increment Financing (TIF), Class 8 designation, and Opportunity Zone classification. The $29 million TIF includes a sharing arrangement with the City of Country Club Hills.
“LogiPark 57-80 is a great partnership with Country Club Hills,” said LPC’s Aaron Martell, “The economic incentives are going to really accelerate the lease up and, in turn, job creation.”
The rare parcel size is further enhanced by its proximity to downtown Chicago, which is just under 25 miles away. Additionally, it’s just five miles to Canadian National’s Chicago Intermodal, located in Harvey, IL.
For comments, questions or concerns, please contact Paul Bubny