1/27/2022: Cook County Tax Scavenger Sale - 1334 Kostner Signs 1st Tenant -
Chicago: Nation's Quantum Computing Hub - Mars Wrigley Exiting NW Side Plant - Combat Winter's Chill
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The Terminal Signs First Tenant
The Terminal, a $50 million Humboldt Park redevelopment backed by Morningstar founder Joe Mansueto, signed its first tenant - EeroQ, a leader in the field of quantum hardware. After a national search, the company's CEO Nick Farina announced the move to 1334 N. Kostner, firm in his belief Chicago will become a leading center for quantum computing. EeroQ currently has operations in New York and Lansing, Michigan.
Quantum computers can solve more complex problems than classical computers. They're used to tackle molecular modeling in developing drugs, vaccines, and gene therapies and are capable of optimizing supply chains and handling complex financial algorithms.
Quantum Computing Startup EeroQ Is Moving Its HQ to Chicago, Jeff Rumage, builtinCHI 1/6/2021
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Chicago:
The Nation's Quantum Hub
"With a highly skilled talent base emerging from its world-class universities and state-of-the-art research and lab facilities, Chicago has the infrastructure to drive the future of quantum information science and engineering. Its broad and diverse industry base, with more than 30 Fortune 500 companies, includes numerous industries where quantum science will have an impact, such as manufacturing, healthcare, and life sciences, transportation and logistics, and financial tech."
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Startups, Corporate Partners,
Investors, and Mentors.
*Applications for Cohort 2 is now open.
Eligibility:
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Early-stage scalable startups must offer quantum technology-based solutions with a unique value proposition.
- The startup must:
- be an established U.S. legal entity at the time of entry into the progra
- address a large market with unmet needs.
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The CEO must be able to work full-time with the startup, and side-by-side with other cohort members in Chicago and immerse in the regional quantum ecosystem for extended periods during the 12-month program.
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Mars Wrigley Exiting NW Side Plant
The Mars Wrigley conglomerate recently announced relocating activities from its plant at 2019 N. Oak Park Avenue by 2025 to other facilities nationwide. A company spokesman said they are committed to working with the City of Chicago and the surrounding community on a future vision for the site.
In 2017 the candy giant announced* its global headquarters would continue to be based in Chicago, while its U.S. headquarters would transition to New Jersey by July 2020. It scrapped plans to expand its Chicago operations at that time in favor of outsourcing jobs to plants in Newark and Hackettstown, New Jersey, with the expectation of creating 1500 jobs over four years.
The move to New Jersey was tied to a 10-year, $31.5 million tax credit awarded by the Economic Development Authority. **The company was also awarded a separate $1.15 million tax credit tied to a renovation and expansion of the Mars Chocolate office and factory in Hackettstown. At the time, Mars operated five plants in Chicago, accounting for some 2400 jobs.
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Excerpted from the Made in Chicago Museum Website
"Still consistently ranked among the top ten largest privately owned companies, of any kind, in the world, Mars Incorporated ($35 billion revenue in 2017) stands in stark contrast to most of the cherished but long-defunct Chicago confectioners of yore—a graveyard of ex-rivals that includes Curtiss, Bunte, Williamson, Shotwell, and Peerless, to name just a handful."
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160,000 SF - $4.2MM
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Building is 100% fully sprinklered - Ceiling heights up to 18’ with clear height up to 16’9”
Power Supply Amps: 1,200-3,600 Volts: 240 Phase: 3 Wire - Zoning M1-2 - Light Manufacturing
Five (5) interior truck level docks with capability to add more - Convenient to major corridors,
Class I, II, & III truck routes - Well-capitalized ownership willing to invest into building/build to suit
Chicago Property Investors has multiple spaces for lease: Click Here.
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Cook County 2022 Scavenger Sale
Under Illinois law, the Cook County Treasurer's Office conducts a Scavenger Sale of tax delinquent properties every two years. The sale brings revenue to the City's tax roles and returns properties to productive use. Properties with three or more years of delinquent taxes are sold for cash bids; bids offered can be less than the total amount of taxes and interest due, and the highest bidder wins a lien on the property.
Delinquent taxes for 2001 through 2018 will be offered at the Scavenger Sale beginning at 8 AM on February 14th, 2022. The sale will be conducted from 8 AM to 3 PM daily and expected to be completed by March 2nd, 2022.
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Chase Wintry Woes with Hot Chocolate
You might not chase it far, but cradling a cup of cocoa will warm your hands while you conjure up visions of spring in the swirled liquid. From spicy to a cloud of whipped cream or marshmallows, Eater Chicago has the sources mapped out for you.
Click here and find your favorite place to enjoy it.
Where to Drink Chicago’s Most Heartwarming Hot Chocolates
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Looking to Buy, Sell or Lease?
Deborah has sold and leased industrial and commercial properties throughout the NW Side, representing buyers, sellers and tenants. Backed by the locally-owned Strauss Realty team, she'll help you get the most value for your property.
Her expertise also includes a decade spent in economic development assisting small businesses and manufacturers with TIF, Enterprise Zone, and other public sector incentives.
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