HomeMy WebLinkAboutRESOLUTION - 37-16 - 11/15/2016 - Class 6B - 1200 Lunt RESOLUTION NO. 37-16
A RESOLUTION DETERMINING THE APPROPRIATENESS FOR CLASS 6B STATUS
PURSUANT TO THE COOK COUNTY REAL PROPERTY CLASSIFICATION
ORDINANCE AS AMENDED JULY 17,2013 FOR CERTAIN REAL ESTATE LOCATED
AT 1200 LUNT AVENUE,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 17, 2013, 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, in the case of abandoned property, if the municipality or the Mayor and Board
of Trustees, finds that special circumstances justify finding that the property is "abandoned" for
purpose of Class 613, even though it has been vacant and unused for less than 24 months, that
finding, along with the specification of the circumstances, shall be included in the resolution or
ordinance supporting and consenting to the Class 6B application. Such resolution or ordinance
shall be filed with the eligibility application. If the ordinance or resolution is that of a
municipality,the approval of the Board of Commissioners of Cook County is required to validate
such shortened period of qualifying abandonment, and a resolution to that effect shall be
included with the Class 6B eligibility application filed with the Assessor; 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 1200 Lunt Avenue, in
the Village of Elk Grove Village, Cook County, Illinois, with the Property Index Number 08-34-
202-028-0000, and 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 1200 Lunt
Avenue, Elk Grove Village, Cook County, Illinois, identified by Property Index Number 08-34-
202-028-0000, declared eligible for Class 6B special circumstances status pursuant to the Cook
County Real Property Classification Ordinance as amended July 17, 2013, is hereby granted in
that this Board and the Village of Elk Grove Village, Illinois, has determined that the incentive
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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:
THE EAST 273 FEET OF LOT 78 IN CENTEX INDUSTRIAL PARK UNIT 49, A
SUBDIVISION IN SECTION 34 TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE
THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS.
Section 2: That the Special Circumstances as outlined by the petitioner are attached hereto
as Exhibit "A" and made a part thereof.
Section 3: That the Village of Elk Grove Village, Illinois hereby supports and consents to
the Class 6B Application and approves the classification of the subject property as Class 613
property pursuant to the Cook County Real Property Classification Ordinance and the Class 6B
tax incentives shall apply to the property identified as Permanent Real Estate Index Number 08-
34-202-028-0000.
Section 4: That the Mayor and Village Clerk are hereby authorized to sign any necessary
documents to implement this Resolution subject to the petitioner completing the following
conditions within twelve months of closing:
a. Replace dock drive, dock aprons and driveway aprons to Village Code;
b. Resurface and stripe parking lot;
c. Install energy efficient lighting in warehouse and renovate office space;
d. Install new dock seals and paint all dock doors and bollards;
e. Install a new roof,
f Clean out drainage ditch in rear, improve fagade, landscaping and signage.
Section 5: That this Resolution shall be in full force and effect from and after its passage
and approval according to law.
VOTE: AYES: 5 NAYS: 0 ABSENT: 1
PASSED this 1511 day of November 2016.
APPROVED this 15th day of November 2016.
APPROVED:
Mayor Craig B. Johnson
Village of Elk Grove Village
ATTEST:
Judith M. Keegan,Village Clerk
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Exhibit"A"
SARNOFF` AccASH
PROPERTY T A X. L A..:W
Special Circumstances
Rgq nested bv VK 1200 Lunt LLC or an enft to be named
1200 Lunt Ave, Elk Grove'Village,Illinois PIN: 08-34-202-028-0000
VK 1200 Lunt LLC, or an entity to be named("Applicant")is requesting a Resolution in support
and consent of a Class 6b Incentive on the above-referenced property based on occupation of an
abandoned property that has been vacant for less than 24 continuous months with a purchase for value,
special circumstances and substantial rehabilitation. The Applicant plans on purchasing the subject
property and rehabilitating the same in order to lease to a warehousing,manufacturing and/or distribution
user.
The subject property consists of an approximately 87,360 square foot site with a roughly 52,266
square foot building that has been 100%vacant and unused since July 31,2016. The property is in need
of substantial rehabilitation. Therefore,the Applicant plans to invest approximately$400,000 to
immediately rehabilitate the subject property. Based on initial inspections these improvements will be to
paint the interior warehouse,install energy efficient lighting in the warehouse,demolish and renovate the
office, resurface the parking lot,improve the landscaping, improve the fagade with major tuekpointing,
paint the exterior(man doors,warehouse doors,awnings and bollards), install new dock seals, install new
signage and install a new roof as well as to complete other general maintenance. Please note,however,
that all of the rehabilitation costs could significantly vary depending on a variety of factors such as market
variances. Further inspections of the subject property may require additional improvements. The
rehabilitation will create approximately 35 to 45 construction jobs.
The Applicant will be marketing the subject property to industrial users and has a strong history of
purchasing properties in Elk Grove Village and filling them with industrial users. Additionally,the
Applicant expects that an industrial user at the subject property will bring anywhere from 20 to 30 jobs to
the same.
Elk Grove Village can also expect that an industrial user at the subject property and its employees
will invest commercially back into the community by visiting local establishments such as restaurants, gas
stations,grocery stores and more. In addition, Elk Grove Village can expect that an industrial user at the
subject property will attract business and various customers to the Village in the course of its operations.
Based on our research and the additional costs that must be incurred to rehabilitate the building in
order for this to be a successful endeavor, the Applicant must possess a Class 6b Incentive to complete the
substantial rehabilitation thereof and to successfully operate the property. It is for these reasons that it
necessary to grant the Applicant a Resolution in support and consent of a Class 6b Incentive for the
subject property based on occupation of an abandoned property that has been vacant for less than 24
continuous months with a purchase for value,special circumstances and substantial rehabilitation.