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CHICAGO-Four buildings in the 2100 block of South Jefferson Street will be redeveloped in a $14.1-million project that will create space for at least two tenants forced to move by the closing of South Water Market. The 250,000-sf Food Halls of South Branch redevelopment will return long-vacant industrial buildings and one office building back to productive use.

A 100,000-sf triangular-shaped office building is in the new Commission on Chicago Landmarks’ Cermak Road Bridge District, and its redevelopment by the summer of 2007 promises to preserve its historic character, department of planning and development project manager Chip Hastings indicates. However, the first phase of Righteous Jefferson II, LLC’s project will add coolers and freezers to 150,000 sf of industrial space, which promises to be useful to two food service companies.

The community development commission also recommended up to $1.7 million in tax increment financing assistance for developer Terry Upton’s company. Hastings says it will be paid after completion of the two phases–$900,000 after the 150,000-sf industrial redevelopment and $800,000 after the adaptive reuse of the 100,000-sf office building.

Righteous Jefferson II, LLC, which paid $1.5 million in April 2000 for the buildings on 3.5 acres, has lined up $5.1 million in construction financing from Amalgamated Bank of Chicago, according to property records.

The project includes a 25,000-sf “green roof” atop one of the industrial buildings.

With the promise of 200 new jobs after 150 construction workers have moved on, the project received the support from the 18th Street Development Corp. as well as 25th Ward Ald. Danny Solis.

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