A 100,000-sf triangular-shaped office building is in the newCommission on Chicago Landmarks' Cermak Road Bridge District, andits redevelopment by the summer of 2007 promises to preserve itshistoric character, department of planning and development projectmanager Chip Hastings indicates. However, the first phase ofRighteous Jefferson II, LLC's project will add coolers and freezersto 150,000 sf of industrial space, which promises to be useful totwo food service companies.

The community development commission also recommended up to $1.7million in tax increment financing assistance for developer TerryUpton's company. Hastings says it will be paid after completion ofthe two phases--$900,000 after the 150,000-sf industrialredevelopment and $800,000 after the adaptive reuse of the100,000-sf office building.

Righteous Jefferson II, LLC, which paid $1.5 million in April2000 for the buildings on 3.5 acres, has lined up $5.1 million inconstruction financing from Amalgamated Bank of Chicago, accordingto property records.

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