HomeMy WebLinkAboutRes 12-26 06/02/2026 In Support Of O'Hare IL Industrial, LLC'S Application For A Class 6B Incentive For Their Property Located At 501 W. ALgonquin Road, Mount Prospepct, IllinoisRESOLUTION NO. 12-26
A RESOLUTION IN SUPPORT OF O'HARE IL INDUSTRIAL, LLC'S APPLICATION FOR
A CLASS 6B INCENTIVE FOR THEIR PROPERTY LOCATED AT
501 W. ALGONQUIN ROAD, MOUNT PROSPECT,µ L, INOIS
WHEREAS, the Village of Mount Prospect encourages community development to provide
for economic growth and career opportunities; and
WHEREAS, through property tax incentives offered by Cook County, various opportunities
exist for industrial properties in the Village of Mount Prospect, Cook County; and
WHEREAS, without the Cook County property tax incentives, the Village of Mount Prospect
is at a competitive disadvantage with neighboring counties Lake and DuPage in attracting
industrial development; and
WHEREAS, O'Hare It Industrial has requested the Village of Mount Prospect support its
application for renewal of a Class 6B Real Property Classification at 501 W. Algonquin Road,
Mount Prospect, Illinois, Cook County; and
WHEREAS, the corporate authorities of the Village of Mount Prospect believe that their
request is in the best interest of economic development in the Village of Mount Prospect.
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND BOARD OF TRUSTEES OF THE
VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTIONwWONE: That the Mayor and Board of Trustees of the Village of Mount Prospect do
hereby supportandconsent to the application for the Class 6B property tax reduction from
25%to 10%for years 1 through 10, 15% in year 11, and 20% in year 12 from Cook County for
the Property located at 501 W. Algonquin Road and legally described as:
LOT 1 IN KEOLYN PLASTICS, INC. SUBDIVISION OF THE NORTH 683.46 FEET
OF THE EAST 200 FEET OF THAT PART OF THE NORTHEAST QUARTER OF THE
SOUTHEAST QUARTER OF SECTION 23, TOWNSHIP 41 NORTH, RANGE 11
EAST OF THE THIRD PRINCIPAL MERIDIAN, LYING WEST OF THE EAST 20
ACRES OF SAID NORTHEAST QUARTER OF THE SOUTHEAST QUARTER, IN
COOK COUNTY, ILLINOIS.
TOGETHER WITH APPURTENANT NON-EXCLUSIVE, RECIPROCAL INGRESS
AND EGRESS EASEMENTAS CREATEDAND SET FORTH IN THE DECLARATION
OF NON-EXCLUSIVE EASEMENTS AND ABROGATION OF EXISTING
DELCARATION AND GRANT OF EASEMENTS, RECORDED DECEMBER 1, 2016
IN DOCUMENT 1633616076.
Property Index Number: 08-23-401-030-0000
SECTI '►.N _,TWOO That the Village of Mount Prospect supports industrial growth, increased
employment, and economic development and the subject property is in furtherance of this
goal.
SECTION THREE: That this Resolution shall be in full force and effect from and after its
passage and approval in the manner provided by law.
AYES: Dante, DiPrima, Grossi, Matuszak, Hoefert
NAYS: None
ABSENT: Gens, Saccotelli
PASSED and APPROVED this 2nd day of June, 2026
Paul Wm. Hoefert, Mayor
ATTEST:
Karen M. Agoranos, Village Clerk
Village Clerk