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Cook County Class 7a — Commercial Real Estate Incentive (≤$2M Projects)
Cook County Assessor + municipal Resolution of SupportSee programDeadline: Application required prior to substantial rehabilitation, new construction, or re-occupation. Resolution of Support from municipality required.
Cook County property tax incentive for smaller commercial development projects. Mirrors Class 6b structure but applies to commercial (not industrial) property and is limited to projects $2M or less. Most heavily used for small retail, office, and mixed-use redevelopment in commercial corridors throughout Cook County.
Program details
- Agency
- Cook County Assessor + municipal Resolution of Support
- Level
- County
- Category
- Property Tax Abatement
- Eligibility
- Commercial real estate (retail, office, mixed-use, hotel) in Cook County with TOTAL PROJECT COST $2 MILLION OR LESS, meeting one of: (a) new construction; (b) substantial rehabilitation (≥50% of existing market value); (c) re-occupation of abandoned commercial property vacant ≥24 months. Property must be in an area determined to be in need of commercial development by the Cook County Board.
- Funding Amount
- Reduced property tax assessment ratio: 10% of market value for 10 years, 15% in year 11, 20% in year 12 (same schedule as Class 6b). Property tax savings ~60% over 12-year incentive period.
- Deadline
- Application required prior to substantial rehabilitation, new construction, or re-occupation. Resolution of Support from municipality required.
- Status
- open
- Geographic Scope
- Illinois only
- Project Types
- real_estate, commercial, retail, office, mixed_use
- Client Types
- commercial
- Notes
- For evlv.energy clients: surface when query mentions "retail", "office", "small commercial", or "mixed-use" in Cook County with project cost ≤$2M. Stack with: federal HTC (if historic structure), OZ (if OZ tract), §179D for energy retrofit, IL Enterprise Zone overlap.
Source: Grantya research. Confirm current terms with the administering agency before applying.