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Council approves real and personal property abatements to support industrial investment at 445 N. Sheridan
Summary
The council approved an eight‑year real property and a five‑year personal property abatement for a redevelopment at 445 North Sheridan Street that developers said will create a new 112,500 sq. ft. facility and 15 full‑time jobs; developers said buildings will be designed to be solar‑ready and exceed code where feasible.
The Common Council unanimously adopted Resolutions 25‑07 and 25‑08 on Jan. 27 to grant an eight‑year real property tax abatement and a five‑year personal property tax abatement for redevelopment at 445 North Sheridan Street.
Assistant Director Joe Molnar and representatives from Great Lakes Capital (GLC Sheridan LLC) and GTA Containers told council the project would convert an underused site into a class‑A industrial facility and include…
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