X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO-Having been stung earlier this year by Brach’s Confectionary’s plans to close operations on the West Side, city officials plan to use $4 million in industrial revenue bonds to help family-owned Primrose Candy Co. expand operations on the Northwest Side. Now located at 4111 W. Parker Ave., the candy company will take over a 22,000-sf building as well as an 18,000-sf vacant lot, where it will build a warehouse.

Primrose, a 73-year-old company that has been at its current location since 1966, will save $20 million over 20 years in interest as a result of the industrial revenue bond.

“The candy industry is an important player in the region’s economy, providing good jobs for Chicagoans,” says Mayor Richard M. Daley, pointing to 170 current and 16 potential new jobs at the candymaker.

The financing proposal is expected to be passed by the city council later this month.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.