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Jaffe Cos. in line for $13M city incentive for North Side shopping center

The 144K sf Edens Collection project would receive the assistance if aldermen approve perk

The Edens Collection shopping center proposed for North Mayfair (Credit: Camburas & Theodore Architects)
The Edens Collection shopping center proposed for North Mayfair (Credit: Camburas & Theodore Architects)

Jaffe Companies would get $13 million in city incentives for a new North Side shopping center under a plan being pitched by Mayor Rahm Emanuel.

The $58 million Edens Collection project would bring three retail buildings totaling 144,000 square feet to the 4600 block of West Foster Avenue in the city’s North Mayfair neighborhood. Jaffe is seeking $13 million in tax-increment financing for the project.

In a so-called TIF district, property taxes from increased property values go into a fund to pay for improvements within the district.

On Wednesday, the mayor introduced a measure in the City Council to give the incentive to Chicago-based Jaffe. The money would help pay for site acquisition, environmental remediation and other costs.

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Initial tenants would include national apparel and general-purpose retailers, a health club, restaurants and medical offices, according to the mayor’s office.

The Council this winter created the Foster/Edens TIF District, which includes the proposed shopping center site. The nine-acre site was previously home to the Sunstar Americas dental products factory and has been vacant since 2016.

As part of the deal with the city, Jaffe would provide $2 million for improvements to nearby Gompers Park.

A Jaffe official did not immediately respond to a request for comment.

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