HomeMy WebLinkAboutRESOLUTION - 13-22 - 2/8/2022 - 101 NORTHWEST POINT BOULEVARD 6BRESOLUTION NO. 13-22
A RESOLUTION DETERMINING THE APPROPRIATENESS FOR CLASS 6B STATUS
PURSUANT TO THE COOK COUNTY REAL PROPERTY CLASSIFICATION
ORDINANCE AS AMENDED JULY 27, 2018 FOR CERTAIN REAL ESTATE LOCATED
AT 101 NORTHWEST POINT BOULEVARD ELK GROVE VILLAGE ILLINOIS
WHEREAS, the Village of Elk Grove Village desires to promote the development of
industry in the Village of Elk Grove; and
WHEREAS, the Cook County Assessor is operating under an ordinance enacted by the
Cook County Board of Commissioners, and amended from time to time, the most recent
amendment becoming effective as of July 27, 2018, which has instituted a program to encourage
industrial and commercial development in Cook County known as the Cook County Real
Property Classification Ordinance; and
WHEREAS, the Petitioner has applied for or is applying for Class 6B property status
pursuant to said aforementioned ordinance for certain real estate located at 101 Northwest Point
Boulevard, in the Village of Elk Grove Village, Cook County, Illinois, with the Property Index
Number 08-22-100-016-0000, has proven to this Board that such incentive provided for in said
ordinance is necessary for development to occur on this specific real estate.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Board of Trustees of the
Village of Elk Grove Village, Counties of Cook and DuPage, Illinois:
Section 1: That the request of the Petitioner to have certain real estate located at
101 Northwest Point Boulevard, Elk Grove Village, Cook County, Illinois, and identified by
Property Index Numbers 08-22-100-016-0000, declared eligible for Class 6B status pursuant to
the Cook County Real Property Classification Ordinance as amended July 27, 2018, is hereby
granted in that this Board and the Village of Elk Grove Village, Illinois, has determined that the
incentive provided by the said Class 6B Tax Incentive Ordinance is necessary for the said
development to occur on the subject property, legally described as follows:
LOT 1 IN METROPOLITAN -W.B. SUBDIVISION, BEING A RESUBDIVISION OF PART
OF LOT 1 IN THE PARK AT NORTHWEST POINT, A SUBDIVISION OF PARTS OF
SECTIONS 15, 16, 21 AND 22 ALL IN TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE
THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS.
COMMON ADDRESS: 101 NORTHWEST POINT BLVD., ELK GROVE VILLAGE,
ILLINOIS 60007 PIN: 08-22-100-016-0000
Section 2: That the Village of Elk Grove Village, Illinois hereby supports and consents to
the Class 613 Application and approves the classification of the subject property as Class 6B
property pursuant to the Cook County Real Property Classification Ordinance and the Class 613
tax incentives shall apply to the property identified as Permanent Real Estate Index Numbers
08-22-100-016-0000. Elk Grove Village is in receipt of an economic disclosure statement that is
included with the application packet.
Section 3: That the Mayor and Village Clerk are hereby authorized to sign any necessary
documents to implement this Resolution including the Elk Grove Village Class 6b Property Tax
Incentive Terms and Agreement subject to the petitioner completing new construction of a
106,443 square foot industrial building, in substantial conformance with the Applicant
completing the improvements stated in their application.
Section 4: That this Resolution shall be in full force and effect from and after its passage
and approval according to law.
VOTE: AYES: 6 NAYS: 0 ABSENT: 0
PASSED this 811 day of February 2022.
APPROVED this 81h day of February 2022.
APP OVED:.,,%
Mayor C`raig/B. Johnson
Village of Elk Grove Village
ATTEST:
Lor tta M. Murphy, Viiiil ge ClerKI
THE LAW OFFICES OF
LISTON & TSANTILIS
A PROFESSIONAL CORPORATION
33 NORTH LASALLE STREET, OATH FLOOR CHICAGO. ILLINOIS 60902
BRIAN P. LISTON (319) 580-1594 PETER TSANTILIS (312) 604.3808 FACSIMILE (312) 590-1592
VIA MAIL & EMAIL
Village Manager's Office
ATTN: Josh Grodzin
901 Wellington Avenue
Elk Grove, Illinois 60007
CC: Nick Radcliffe
Dear Josh:
February 3, 2022
RE, : Class 6b Resolution Request
BIG Acquisitions LLC, or its assigns
101 Northwest Point Blvd.
Elk Grove Village, IL 60007
PIN(s): 08-22-100-016-0000
BIG Acquisitions LLC, or its assigns (the "Applicant"), is the contract purchaser for the above -
referenced property (the "Subject Property"), and is requesting a Resolution from the Village of Elk Grove
supporting and consenting to a Class 6b Tax Incentive for the Subject Property based on New Construction
and Substantial Rehabilitation.
The Subject Property currently consists of 32-year-old industrial building that comprises
approximately 49,500 total square feet, sited on approximately 326,700 square feet of land. The Applicant
plans to construct an approximately 106,433 square foot building with a clear height of thirty-two (32) feet.
Additionally, the new building will include eight (8) exterior docks, two (2) drive-in doors and 121 new
parking stalls. This newly constructed building will then be occupied on a speculative basis by a suitable
industrial tenant.
Subject Property Improvements and Job Creation
In the event that a Class 6b Tax Incentive is granted, the Applicant plans to spend approximately
$10,478,440 to construct a new industrial building onsite and improve upon the existing lot. Once these
improvements are finished, the Applicant plans eventually to find a suitable industrial tenant to occupy the
entire Subject Property. In total, the Applicant intends that the building will accommodate an upwards of
fifty (50) full-time jobs, with room for expansion. Also, new development will result in approximately
twenty-five (25) to thirty (30) temporary construction jobs.
Real Estate Tax and Economic Analysis
After the completion of improvements, the Subject Property is projected to have a market value of
approximately $1.4,828,440, which would generate an estimated $5,353,184 in total taxes over the life of the
Class 6b Tax Incentive (approximately $466,099 per year). Without the incentive and at full vacancy, the
Subject Property would generate a total of only $1,006,056 in total taxes (approximately $83,714 per year)
over the life of the incentive. Therefore, should the Class 6b Tax Incentive be approved, the Subject Property
T= LAW omaea or
LipTox & TaANyr s
would generate an additional $4,347,128 in real estate taxes over the life of the Class 6b Tax Incentive.
Please see the attached "12 Year Tax Comparison Chart" for more details.
"But -For" Condition Statement
Without the assistance from the Class 6b Tax Incentive, the Applicant will not proceed with the
purchase and construction of the new building. The Applicant has determined that without the incentive, the
heavy Cook County property tax burden will not make the project feasible. In the event that the Applicant
does not proceed with the new construction and rehabilitation on the Subject Property, it will remain vacant
and unused, thereby lowering its total taxes.
Conclusion
Based on the foregoing, the Applicant requests that EIk Grove Village review its Class 6b Tax
Incentive request and approve a Resolution supporting and consenting to a Class 6b Tax Incentive for the
Subject Property based on New Construction, and Substantial Rehabilitation. Should you need any additional
documentation or have any questions or concerns, do not hesitate to contact me at (312) 580-1595 or via
email at bpenny@ltlawchicago.com.
Respectfully Submitted,
Brendan G. Penny, Esq.
Encls.
aa� COOK COUNTY ASSESSORS OFFICE
COOK COUNTY ASSESSOR„„ z 118 NORTH CLARK STREET, CHICAGO, IL 60602
F R I TZ K A E G I PHONE: 312.443.7550 FAX: 312.603.6584
WWW.COOKCOUNTYASSESSOR.COM
CLASS 6B
ELIGIBILITY APPLICATION
Carefully review the Class 6B Eligibility Bulletin before completing this Application. For assistance, please contact
the Assessor's Office, Development Incentives Department (312) 603-7529. This application, a filing fee of
$500.00, and supporting documentation (except drawings and surveys) must be filed as follows:
This application must be filed PRIOR TO the commencement of New Construction or PRIOR TO the
commencement of Substantial Rehabilitation Activities or PRIOR TO the commencement of Reoccupation of
Abandoned Property.
Applicant Information
Name: BIG Acquisitions LLC, or its assigns _ Telephone: ()
Company:
Address: 9450 W Brvn Mawr. Ste. 750
City: Rosemont State: IL Zip Code: 60018
Email:
Contact Person (if different than the Applicant)
Name: Kevin Brennan Telephone: (jU7 813-6812
Company: Brennan Investment Group
Address: 9450 W Brvn Mawr, Ste. 750
City: Rosemont State: IL Zip Code: 60018
Email: kbrennan brennanllc.com
Property Description (per PIA9
If you are applying for more than three different PINs, please submit the additional PIN information in an
attachment.
Street Address: (1) 101 Northwest Point Blvd.
Permanent Real Estate Index Number: 08-22-100-016-0000
(2)
Permanent Real Estate Index Number:
(3 )
Permanent Real Estate Index Number:
City: Elk Grove Village State: IL Zip Code: 60007
Township: Elk Grove Existing Class: 592
Attach legal description, site dimensions and square footage and building dimensions and square footage.
Identification of Person Having an Interest in the Property
Attach a complete list of all owners, developers, occupants and other interested parties (including all beneficial
owners of a land trust) identified by names and addresses, and the nature and extent of their interest.
Industrial Use
Attach a detail description of the precise nature and extent of the intended use of the subject property, specifying
in the case of the multiple uses the relative percentages of each use.
Include copies of materials, which explain the occupant's business, including corporate letterhead, brochures,
advertising material, leases, photographs, etc.
Nature of Development
Indicate nature of proposed development by checking the appropriate space:
[x ] New Construction (Read and Complete Section A)
[x ] Substantial Rehabilitation (Read and Complete Section A)
Incentive only applied to the market value attributable to the rehabilitation
[ ] Occupation of Abandoned Property - No Special Circumstance
(Read and Complete Section B)
[ ] Occupation of Abandoned Property - With Special Circumstance
(Read and Complete Section C)
[ ] Occupation of Abandoned Property - (TEERM Supplemental Application)
(Read and Complete Section C)
[ ] Occupation of Abandoned Property - (CEERM Supplemental Application)
(Read and Complete Section C)
SECTIONA NEW CONS TRUCTIONISUBSTANTI.4L RF.HABILIT.4TION
If the proposed development consists of New Construction or Substantial Rehabilitation, provide the following
information:
Estimated date of construction
commencement (excluding demolition, if any): Q22022
Estimated date of construction completion: 03 2023
Attach copies of the following:
1. Specific description of the proposed New Construction or Substantial Rehabilitation
2. Current Plat of Survey for subject property
3. 1" floor plan or schematic drawings
4. Building permits, wrecking permits and occupancy permits (including date of issuance)
5. Complete description of the cost and extent of the Substantial Rehabilitation or New Construction
(including such items as contracts, itemized statements of all direct and indirect costs, contractor's
affidavits, etc)
,�L'CTIQN S ABANDONEI) PROPERTY WITH ND SPECIAL CIRCUMSTANCE
If the proposed development consists of the reoccupation of abandoned property, purchased for value, complete (1) and
(2) below:
1. Was the subject property vacant and unused for at least 24 continuous months prior to the purchase for
value?
[ ] YES [ ] NO
When and by whom was the subject property last occupied prior to the purchase for value?
Attach copies of the following documents:
(a) Sworn statements from person having personal knowledge attesting to the fact and the duration
of vacancy and abandonment
(b) Information (such as statements of utility companies) which demonstrate that the property was
vacant and unused and indicate duration of such vacancy
2. Application must be made to the Assessor prior to occupation:
Estimated date of reoccupation:
Date of Purchase:
Name of purchaser:
Name of seller:
Relationship of purchaser to seller:
Attach copies of the following documents:
(a) Sale Contract
(b) Closing Statement
(c) Recorded Deed
(d) Assignment of Beneficial Interest
(e) Real Estate Transfer Declaration
SE,CTION C SPFCIAI. CIRCUM.4TANCF.S
If the applicant is seeking special circumstances to establish that the property was abandoned for purposes of the
Incentive where there was a purchase for value, but the period of abandonment prior to purchase was less than
24 months, complete section (1).
If the applicant is seeking special circumstances to establish that the property was abandoned for purposes of the
Incentive where there was no purchase for value, but the period of abandonment prior to the application 24
continuous months or greater, complete section (2).
If the applicant is seeking special circumstances to establish that the property was abandoned for purposes of the
Incentive where there was no purchase for value, but the period of abandonment prior to the application was
greater than 12 continuous months and less than 24 continuous month, complete section (2) and the TEERM
Supplemental Application.
If the applicant is seeking special circumstances to establish that the property was abandoned for purposes of the
Incentive where there was no purchase for value, but the period of abandonment prior to the application was
greater than 3 continuous months and applicant will create or maintain at least 250 jobs for employees at the
subject location, complete section (2) and the CEERM Supplemental Application.
1. I low long was the period of abandonment prior to the purchase for value?
When and by whom was the subject property last occupied prior to the purchase for value?
Attach copies of the following documents:
(a) Sworn statements from persons having personal knowledge attesting to the fact and the duration
of the vacancy and abandonment
(b) Information (such as statements of utility companies) which demonstrate that the property was
vacant and unused and indicate duration of vacancy
(c) Include the finding of special circumstances supporting "abandonment" as determined by the
municipality, or the County Board, if located in an unincorporated area. Also include the
ordinance or resolution from the Board of Commissioners of Cook County stating its approval
for less than 24-month abandonment period.
Application must be made to the Assessor prior to the commencement of reoccupation of the abandoned
property.
Estimated date of Reoccupation:
Date of purchase:
Name of purchaser:
Name of seller:
Relationship of purchaser to seller:
Attach copies of the following documents:
(a) Sale Contract
(b) Closing Statement
(c) Recorded Deed
(d) Assignment of Beneficial Interest
(e) Real Estate Transfer Declaration
2. How long has the subject property been unused?
[ ] 24 or greater continuous months (Eligible for Special Circumstance)
[ ] 12 continuous months but less than 24 continuous months (Eligible for Special
Circumstance under TEERM) - Complete TEERM Supplemental Application
[ ] 3 continuous months and maintain/create 250 employee jobs (Eligible for Special
Circumstance under CEEW - Complete CEERM Supplemental Application
[ ] Not Eligible for Special Circumstance if No purchase and less than 12 continuous months
vacant, or not a CEERM
When and by whom was the subject property last occupied prior to the filing of this application?
Attach copies of the following documents:
(a) Sworn statements from persons having personal knowledge attesting to the fact and the duration
of the vacancy and abandonment
(b) Information (such as statements of utility companies) which demonstrate that the property was
vacant and unused and indicate duration of vacancy
(c) Include the finding of special circumstances supporting "abandonment" as determined by the
municipality, or the County Board, if located in an unincorporated area. Also include the
ordinance or resolution from the Board of Commissioners of Cook County stating its approval
for lack of a purchase for value.
Application must be made to Assessor prior to the commencement of reoccupation of the abandoned
property.
Estimated date of reoccupation:
TEERM SUPPLEMENTAL APPLICATION
(This form will ONLY be utilized for applicants who specifically elect for TEERM)
This supplemental eligibility application is for properties that have been abandoned (due to special circumstances)
for at least 12 c.ontinuuus ► onths and less than 24 continuous months with no purchase taking place.
Under the TEERM Program, qualifying industrial real estate would be eligible for the Class 6B level of assessment
from the date ofsubstantial re -occupancy of the abandoned property. Properties receiving Class 6B will be assessed
at 10% of market value for the first 10 years, 15% in the 11th year and 20% in the 12th year. The terms of this
program are Not Renewable.
1 appiicant/representative hereby specifically elect to submit
this Supplemental Application for the TEERM program.
Further affiant sayeth not.
Agent's Signature
Agent's Mailing Address
Applicant's Name
Applicant's e-mail address
Subscribed and swom before me this day
Signature of Notary Public
Agent's Name & Title
Agent's Telephone Number
Applicant's Mailing Address
20
CEERM SUPPLEMENTAL APPLICATION
(This form will ONLY be utilized for applicants who specifically elect for CEERM)
This supplemental eligibility application is for properties that have been abandoned (due to special circumstances)
where there has been no purchase for value and the buildings and other structures have been vacant and unused
for at least three continuous months and applicant has provided sufficient documentation to establish that such
applicant will create or maintain at least 250 jobs for employees at the subject location.
The CEERM Program shall be limited to the party who is the initial applicant of the Class 6B Incentive under
the CEERM Program and the subject of the municipal Resolution or Ordinance.
Under the CEERM Program, qualifying industrial real estate would be eligible for the Class 6B level of assessment
from the date of substantial re -occupancy of the abandoned property. Properties receiving the Class 6B will be
assessed at 10% of market value for the first 10 years, 15% in the l l th year and 20% in the 12th year. The terms
of this program are Not Renewable.
I applicant/representative hereby specifically elect to submit
this Supplemental Application for the CEERM program.
Further affiant sayeth not.
Agent's Signature
Agent's Mailing Address
Applicant's Name
Applicant's e-mail address
Agent's Name & Title
Agent's Telephone Number
Applicant's Mailing Address
Subscribed and swom before me this day of , 20
Signature of Notary Public
EMPLOYMENT OPPORTUNITIES
How many construction jobs will be created or maintained as a result of this development? 25-30
How many new permanent full-time and part-time employees do you now employ in Cook County?
Full-time: N/A Part-time: N/A
How many new permanent part-time jobs will be created as a result of this proposed development?
TBD
How many new permanent full-time jobs will be created as a result of this proposed development?
TBD
LOCAL APPROVAL
A certified copy of a resolution or ordinance from the municipality in which the real estate is located (or the
County Board, if the real estate is located in an unincorporated area) should accompany this Application. The
ordinance or resolution must expressly state that the municipality supports and consents to this Class 6B
Application and that it finds Class 6B necessary for development to occur on the subject property. If a resolution
is unavailable at the time the application is filed, a letter from the municipality or the County Board, as the case
may be, stating that a resolution or ordinance supporting the incentive has been requested may be filed with this
application instead. If the applicant is seeking to apply based on the reoccupation of abandoned property and
will be seeking a finding of "special circumstances" from the municipality, in addition to obtaining a letter from
the municipality confirming that a resolution or ordinance supporting the incentive has been requested, the
applicant must file a letter from the County Board confirming that a resolution validating a municipal finding
of special circumstances has been requested. If, at a later date, the municipality or the County Board denies the
applicant's request for a resolution or ordinance, the applicant will be deemed ineligible for the Class 6B
incentive, whether or not construction has begun. In all circumstances, the resolution must be submitted by the
time the applicant files an "Incentive Appeal".
I, the undersigned, certify that I have read this Application and that the statements set forth in this Application
and in the attachments hereto are true and correct, except as those matters stated to be on information and belief
and as to such m tte he undersigned certifies that he/she believes the same to be true.
2/3/22
Signature Date
Kevin Brennan
Print Name
Managing Principal
Title
0310512021
Petition Form for
Class 6B Program
For Office Use Only
Address of Subject Property:
Signed Affidavit Dated:
To the Applicant:
Anyone who intends to submit a request for a Cook County Class 6B Property Tax Abatement within
the corporate limits of the Village of Elk Grove Village must first complete this petition in all its
entirety. The contents of this petition are as follows:
Petition
Detailed Letter of Transmittal
Property Tax Analysis
Eligibility Checklist
$1,000 Filing Fee
Please read the entire form and complete every section as thoroughly as possible. If you have any
questions, please call the Director of Business Development & Marketing at (847) 357-4007.
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5
' PETITION FOR COOK COUNTY CLASS 6B
VILLAGE OF ELK GROVE VILLAGE
We, the undersigned, being owners of record of the following described real estate, do hereby request
that the following business and legally described real estate be granted a Cook County Class 6B
Property Tax Abatement:
Business: BIG Acquisitions LLC, or its assigns (as contract purchaser for the below)
Address: 101 Northwest Point Blvd.. Elk Grove Villaae. IL 60007
Permanent Real Estate Tax Index No. 08-22-100-016-0000
Assessed Valuation 2021 $1 019 511
(last 3 years) 2020 $1.019.511
2019 $1,0M520
• Attach Legal Description of Property
Proposed Owners of Record:
Print Name: BIG Acauisitions LLC, or its assigns Signature:
9450 W Brvn Mawr. Ste 750
(Address City, State)
Phone: (847) 813-6812
I'm ail: kbrennan ipbrennanilc.com
Business Applicant's Name:
Print Name: Kevin Brennan
Brennan Investment Group
Business/Corporation Name
9450 W Brvn Mawr. Ste 750
(Address City, State)
Phone: (847) 813-6812
Email: kbrennan(a�brennanllc.com
Fax:
Signature:
Fax:
j nyLk"
Elk Grove Village Class 6B Property Tax Terms and Agreement
The APPLICANT shall perform the WORK upon the SUBJECT PROPERTY located at 101 NW Point
BLVD. in accordance with the PLANS and in full compliance with all applicable codes, ordinances, rules,
regulations, permits, and plans as outlined in Attachment A, imposed by the VILLAGE, and shall complete the
WORK in a good and workmanlike manner or risk voiding this agreement. The WORK shall include all building
and landscaping alterations as proposed by the APPLICANT in exchange for the VILLAGE'S approval of a Cook
County Class 6B Property Tax Abatement.
The APPLICANT, will be issued a Letter of Receipt upon submission of a completed Elk Grove Village
Class 6B Application Packet. This letter may be used to inform the Cook County Assessor's Office that the Village
of Elk Grove is in receipt of the Applicant's request for a Cook County Class 6B Property Tax Abatement. The
Letter of Receipt is not a guarantee of final approval and the Applicant may move ahead with their project at their
own risk.
The Letter of Receipt will serve as official notice that the APPLICANT is eligible for the incentive;
however, final approval is not complete until there is an official Resolution passed by the Village. The Resolution
will not be executed until such time all proposed work is complete. The APPLICANT has 365 days from taking
ownership or tenancy to complete all proposed alternations and submit a full accounting of costs. If costs are not
consistent with promises made in the original application, the APPLICANT may not be granted a final resolution
of 6B approval.
This AGREEMENT sets forth all the promises, inducements, agreements, conditions and undertaking
between the APPLICANT and the VILLAGE relative to the subject matter thereof, and there are no promises,
agreements, conditions or understandings, either oral or written, expressed or implied, between them, other than
as set forth herein. No subsequent alteration, amendment, change or addition to this AGREEMENT shall be
binding upon the PARTIESE ete less authorized in accordance with the law and reduced in writing and signed
by them.
In WITLESS WHEREOIthe parties hereto have executed this Agreement as set forth below:
Village of E
901 Welling
Elk Grove V
Signed:
Name: Craig B. Johnson
Title: Mayor
Date:
Attest:
Lo,' Murphy, Village f
lerk
BIG Acquisitions LLC
101 NW Point Blvd.
Elk Grove vill fc.0 Z� -
r`
Signed:
Name: Kevin Brennan
Title:
Date: Authorized Signatory
2/3/22
S s`
ry•V,r
Elk Grove Village Class 613 Property Tax Terms and Agreement
Terms & Conditions
Attachment A
The APPLICANT shall perform the WORK upon the SUBJECT PROPERTY as outlined below:
O New construction of a modern state of the art industrial speculative building
Please note, all improvements must conform to Village codes and ordinances. At the time of plan
review and permitting, the Village reserves the right to alter the applicant's plans to ensure conformity.
The 6B will not be granted until all improvements are completed to the satisfaction of the Village. Any
alteration of the proposed work by the applicant after Village Board approval requires additional
Village Board approval.
The aforementioned items must be completed in accordance with the application packet submitted and
enumerated in the resolution.
Disclosure of Ownership
l . When submitting documentation required for the Cook County Class 613 Property Tax Abatement
Program, the applicant is required to submit all required and supporting documentation for
the application. The applicant is REQUIRED to submit the following information:
❑ A Letter of Transmittal detailing the existing and intended use of the property, reason for Class
6B, property alterations, pertinent business operational information, or any information of note that
may be beneficial for staff and the Village Board.
❑ Completion of the Class 611 Eligibility Checklist for the property in question.
❑ Completion of the property tax analysis spreadsheet.
o Current property photographs and renderings of property/building modifications, if applicable.
❑ Proposed Site Plan, if applicable.
If property is:
❑ Owned by the individualfs);
D Title Tract Search, or
a One copy of the latest recorded deed with affidavit
❑ Administered by a trust;
One certified copy of the trust agreement, trust deed and a list of beneficiaries
* Has the property been, or is now, the subject of any other action by the Village? NO
If YES, give details on a separate sheet of paper.
yin 1 i7J J
M1
VILLAGE OF ELK GROVE VILLAGE, ILLINOIS
Petition for Cook County Class 6B Property Tax Abatement
The Village of Elk Grove prides itself on being a business friendly community. As such, the Village
supports the use of the Cook County Class 6B Tax Abatement in cases where it is established that a tax
disparity exists and is detrimental to tenancy and where the project presents a clear benefit to the
community. The Village reserves the right to review applications and render its approval or
disapproval based on the information provided.
Adhering to all Village codes and ordinances with respect to building and landscaping alterations is
required. Furthermore, proposed building and landscaping construction must follow the design
guidelines promulgated in the Industrial and Commercial Revitalization Master Plan Update for 2011.
Proposed enhancements should be in accordance with the attached Industrial Design Guidelines
Packet.
The purpose of the Cook County Class 6B Property Tax Abatement Program is to stimulate the re -
occupancy of vacated industrial buildings through a reduction in property taxes. Property approved for
Class 613 status allows the owner of the property to have the assessment level lowered for a period of
twelve years. Under the program the assessment schedule is 10% of fair market value for ten years
then 15% in the eleventh year and 20% in the twelfth year. Industrial property is regularly assessed at
25% of fair market value in Cook County.
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I - INITIATION:
The following procedures are necessary for a completed petition for Cook County Class 6B Property
Tax Abatement consideration:
A. Documents required:
1. Petition (attached) completed in full
2. Detailed Letter of Transmittal demostraing need for the incentive "But For Clause."
3. Completion of Class 611 Eligibility Checklist
5. Legal description of the property.
6. Photographs, both aerial and land based, of the area for which the property tax exemption is
requested
7. Detailed rehabilitation plans with color elevations and site plan
8. Detailed rehabilitation budget showing itemized total cost
9. Detailed landscaping plan and signage plan with color elevcations
10. For new construction, detailed colored elevations and an architectural site plan
B. Fees:
Submit a check made payable to the Village of' l lk Grave Villriuc to meet the following:
1. $1,000.00 filing fee.
Documents and fees are to be submitted to the Village Manager's Office, Attn: Director of
Marketing & Business Development, 901 Wellington, Elk Grove Village, Illinois 60007.
II - REVIEW AND PROCESSING
Upon receipt of the petition for Cook County Class 6B Property Tax Abatement and fee, the
Director of Business Development & Marketing will:
A. Examine the request for compliance with the above requirements for information, documents and
fees. Incomplete inquiries will be returned to the petitioner or applicant for their action. Step "B"
will be taken when all petition requirements have been fulfilled.
B. Distribute petition and required documents for departmental review and comment by Village
Manager's Office, Community Development, Public Works, and Finance. Departments will submit
written comments to Director of Business Development & Marketing.
C. Department comments will be communicated to applicant for correction.
D. When your application is determined to be complete by staff, the petition will be presented to the
Mayor & Board of Trustees at the next regularly scheduled Village Board Meeting for
consideration.
E. Fully completed petitions will be reviewed by the Mayor & Board of Trustees to ensure that the
project has a clear and demonstrated benefit to the community. If the project is deemed to have
merit and the Applicant has demonstrated that the project could not occur without the assistance
provided by the Cook County Class 6B Property Tax Abatement, then the Mayor & Board of
Trustees will provide the applicant with a Letter of Receipt from the Village.
This letter may be used to inform the Cook County Assessor's Office that Elk Grove Village is in
receipt of the Applicant's request for a Cook County Class 6B Property Tax Abatement. The Letter
of Receipt is not a guarantee of approval and the Applicant can move ahead with their project at
their own risk.
F. The Village will maintain contact with the applicant to ensure that the stated obligations have been
met.
G. Once the stated obligations have been met, Village staff will present a Resolution of Support to the
Mayor & Board of Trustees at a regularly scheduled Village Board Meeting for consideration.
III - FINAL ACTION
Upon their review, the Mayor and Board of Trustees at a Village Board Meeting will:
A. Deny the request
B. Approve the request with or without modification
C. Adopt appropriate resolution
If approved, the Applicant will receive a certified copy of the Village's Resolution in support of the
Cook County Class 6B Property Tax Abatement.
NOTE: While the Village will do its best to expedite the review and approval process,
applicants should allow at least 30 days for review by staff and consideration by the
Mayor & Board of Trustees. Furthermore, additional time may be needed depending
on the complexity of the development.
Y !
4� ` .!�
6
VILLAGE OF ELK GROVE VILLAGE, ILLINOIS
Petition for Cook County Class 6B Property Tax Abatement
Eligibility Checklist
In order to be considered for the Cook County Class 613 Property Tax Abatement, the Eligibility
Checklist must be completed. The initial application must score 16 out of 16 points. Each item will
receive 1 point for Yes and 0 points for No.
Packet Item
Yes
No
Letter of Transmittal
x
Name of the Applying Company
x
Current and Proposed Location/Address of the Applicant
x
Proposed Use of the Property
x
Proof of Vacancy
x
Job Creation and Retention Data (excluding one-time construction jobs)
x
Total Proiect Cost of Proposed Improvements exclude landpurchase)
x
Proposed Detailed Construction Budget of Proposed Improvements
x
Proposed Landscape Budget and Plan
x
Total Square Footage of the Building
x
Current Color Photographs of the Building
x
Prior Five Years of Tax History
x
Breakdown of Taxes Paid Occupied With 6B v. Occupied Without 613
x
Tax PIN
x
Legal Description
Letter from Applicant Explaining the Need for the Tax Abatement on
Com an Letterhead
x
Application Fee of $1,000
x
Total Points
16
Below is a list of recommended items to be included in your Letter of Transmittal as part of the
submission:
• Nature of the proposed operation.
• Documentation detailing how long the building has been vacant.
■ Owner occupied or leased.
■ Justification explaining the need for the property tax abatement.
• Note if retail sales will take place at the proposed location.
• Proposed number of employees, which should include full-time and part-time, as well as any
potential growth and time -frame for filling new positions.
• Detailed breakdown of what needs to be done to the property to make it suitable for the proposed
operation.
• How the proposed improvements conform with the Village's Industrial/Commercial Revitalization
Master Plan.
• How the proposed improvements will increase the valuation of the property.
• How the neighboring businesses will benefit from the proposed improvements.
EDS AFFIDAVIT
1, Kevin Brennan.IS agent for BIG Acquisitions LLC, or its assigns (the "Applicant"), do
hereby certify that it would attest to the following facts as required by Sections 74-46 and 74-62 through 74-
73 of the Cook County Code if called to testify:
That I am a duly authorized agent for Applicant, who is the contract -purchaser of the property
located at located at 101 Northwest Point Blvd., Elk Grove Village, Illinois 60007 (PIN: 08-
22-100-016-0000) (the "Subject Property").
Applicant does not own any other property in Cook County:
Applicant's ownership is as follows:
4. To my knowledge and after reviewing the Applicant's records, Applicant is not delinquent in
the payment of any property taxes administered by Cook County or by a local municipality.
0l�ICYIL KAL
USETIE GMARTNr>FI OONEI M
NOTARY PLWIC, STATE OF RLIMM
W OOMMIMIOti EVM,.12RTR1125
Subscribed and sworn before me
This 3 day of Feb. , 2022
Signature of Notary Public
Further is y rt
Date: 2/3/22
Legal ❑eserintion, Site and Building Square Footne
101 Northwest Point Blvd.
Elk Grove Village, IL 60007
PIN(s) : 0 8-22-100-016 -0000
The Subject Property currently consists of 32-year-old industrial building that comprises
approximately 49,500 total square feet, sited on approximately 326,700 square feet of land. The
Applicant plans to construct an approximately 106,433 square foot building with a clear height
of thirty-two (32) feet. Additionally, the new building will include eight (8) exterior docks, two
(2) drive-in doors and 121 new parking stalls. This newly constructed building will then be
occupied on a speculative basis by a suitable industrial tenant.
Attached hereto please find:
■ Legal description
■ Aerial of Subject Property
■ Street View of the Subject Property
• Site Plan
• Landscape Plan
• Renderings
• Elevations
Legal Description
LOT l IN METROPOLITAN -W.B. SUBDIVISION, BEING A RESUBDIVISION OF PART
OF LOT 1 IN THE PARK AT NORTHWEST POINT, A SUBDIVISION OF PARTS OF
SECTIONS 15, 16, 21 AND 22 ALL IN TOWNSHIP 41 NORTH, RANGE I I EAST OF THE
THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS.
Common Address: 101 Northwest Point Blvd.
Elk Grove Village, Illinois
PIN: 08-22-100-016-0000
Cook County CookViewer
February 2, 2022 1:2,083
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Cook County GIS Dept
Cook County GIS Deparknent
02019 Cook County All Cook County geospellaldele and maps are copyrighted All materials appearing on the web site are inmsmilled without warranty ofany kind and are subject to the terms oflhe disclaimer
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Industrial Use:
101 Northwest Point Blvd.
Elk Grove Village, IL 60007
PIN(s): 08-22-100-016-0000
The Subject Property currently consists of 32-year-old industrial building that comprises
approximately 49,500 total square feet, sited on approximately 326,700 square feet of land. The
Applicant plans to construct an approximately 106,433 square foot building with a clear height
of thirty-two (32) feet. Additionally, the new building will include eight (8) exterior docks, two
(2) drive-in doors and 121 new parking stalls. This newly constructed building will then be
occupied on a speculative basis by a suitable industrial tenant.
In the event that a Class 6b Tax Incentive is granted, the Applicant plans to spend
approximately $10,478,440 to construct a new industrial building onsite and improve upon the
existing lot. Once these improvements are finished, the Applicant plans eventually to find a
suitable industrial tenant to occupy the entire Subject Property. In total, the Applicant intends
that the building will accommodate an upwards of fifty (50) full-time jobs, with room for
expansion. Also, new development will result in approximately twenty-five (25) to thirty (30)
temporary construction jobs.
Potential growth & Property Improvements
101 Northwest Point Blvd.
Elk Grove Village, IL 60007
PIN(s) : 08-22-100-016-0000
BIG Acquisitions LLC, or its assigns (the "Applicant"), is the contract purchaser for the above -
referenced property (the "Subject Property"), and is requesting a Resolution from the Village of Elk
Grove supporting and consenting to a Class 6b Tax Incentive for the Subject Property based on New
Construction and Substantial Rehabilitation.
The Subject Property currently consists of 32-year-old industrial building that comprises
approximately 49,500 total square feet, sited on approximately 326,700 square feet of land. The Applicant
plans to construct an approximately 106,433 square foot building with a clear height of thirty-two (32)
feet. Additionally, the new building will include eight (8) exterior docks, two (2) drive-in doors and 121
new parking stalls. This newly constructed building will then be occupied on a speculative basis by a
suitable industrial tenant.
In the event that a Class 6b Tax Incentive is granted, the Applicant plans to spend approximately
$10,478,440 to construct a new industrial building onsite and improve upon the existing lot. Once these
improvements are finished, the Applicant plans eventually to find a suitable industrial tenant to occupy
the entire Subject Property. In total, the Applicant intends that the building will accommodate an upwards
of fifty (50) full-time jobs, with room for expansion. Also, new development will result in approximately
twenty-five (25) to thirty (30) temporary construction jobs.
After the completion of improvements, the Subject Property is projected to have a market value of
approximately $14,828,440, which would generate an estimated $5,353,184 in total taxes over the life of
the Class 6b Tax Incentive (approximately $466,099 per year). Without the incentive and at full vacancy,
the Subject Property would generate a total of only $1,006,056 in total taxes (approximately $83,714 per
year) over the life of the incentive. Therefore, should the Class 6b Tax Incentive be approved, the Subject
Property would generate an additional $4,347,128 in real estate taxes over the life of the Class 6b Tax
Incentive. Please see the attached "12 Year Tax Comparison Chart" for more details.
Without the assistance from the Class 6b Tax Incentive, the Applicant will not proceed with the
purchase and construction of the new building. The Applicant has determined that without the incentive,
the heavy Cook County property tax burden will not make the project feasible. In the event that the
Applicant does not proceed with the new construction and rehabilitation on the Subject Property, it will
remain vacant and unused, thereby lowering its total taxes.
In addition to increased property tax revenues, the eventual Occupant's presence will significantly
benefit the local community. The Applicant expects the Occupant's employees and visitors will frequent
Village restaurants, gas stations, stores and more. According to the attached employee economic impact
chart, the projected 50 full time individuals are estimated to spend approximately $211,875 per year in the
Village on gas, entertainment, groceries, etc. See attached "Employee Economic Impact Statement" for
more details.
1216sr Tax Em mam
101 NorMiwest Point Blvd
Elk Grove YIIlaOe, IL00007
PIN OR-77-inn-nl wn
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Employee Economic Impact
Purchase
Em .
%
Exr)./Wei
Weeks
Total
Lunch
50
55%
$55
50
$75,625
Grocery
50
30%
$50
50
$37,500
Consumer G
50
25%
$35
50
$21,875
Entertainmen
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150/6
$55
50
$20,625
Auto -Gas
501
75%
$301
50
$56,250
TOTAL
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1 $211,875