City officials say the property is worth $3 million, making their financial assistance worth $1.8 million. The mailing and distribution center, which will be followed by a die-cutting and binding facility, will keep 140 jobs in Chicago with the potential of adding 60.
The city received no alternate proposals when it advertised its intent to enter into a development deal with Wicklander Printing Campus Partnership.
In addition to city council approval, the sale is subject to Wicklander Printing Campus Partnership and the department of planning and development signing a redevelopment agreement.
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