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CHICAGO-Wicklander Printing Campus Partnership will pay the city $1.225 million for 20 parcels in the 1600 blocks of S. Clark, Dearborn and Federal streets to build a $10.7-million printing facility. The company plans to build two industrial buildings and pave an employee parking lot on the 2.4-acre site in the River South Tax Increment Financing Redevelopment Project Area.

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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