Chicago’s Amazon pitch dangled $2.3B in incentives, special building permit service

City documents also showed Related Midwest’s The 78 was the e-commerce giant’s preferred site in Chicago

TRD CHICAGO /
Dec.December 17, 2018 11:00 AM

A rendering of The 78 development and Jeff Bezos (Credit: Curbed  Chicago and Getty Images)

Chicago’s bid to land Amazon’s second headquarters included a promise of at least $2.3 billion in incentives and special service permits for work at HQ2 and at company employees’ homes.

Documents obtained by Crain’s showed an offer of a variety of tax rebate and credits, plus the possibility of more breaks had Amazon chosen Chicago.

The company ultimately chose to split the coveted new headquarters, and its promised 50,000 new jobs, between Long Island City in New York and Crystal City, Virginia.

The documents obtained by Crain’s also show Amazon had narrowed its interest in Chicago to Related Midwest’s The 78 development in the South Loop. Officials from the e-commerce giant made a return trip to the site late in the HQ2 selection process. [Crain’s] — John O’Brien


Related Articles

arrow_forward_ios
Don Thompson and 212 North Canal Street (Credit: Cleveland Avenue, Google Maps)

VC firm led by ex-McDonald’s chief buys River West office building

Founder, President and CEO of Oxford Capital Group John Rutledge with Hotel Felix and Hotel Julian (Credit: Oxford Capital Group, Hotel Felix and Google Maps)

Oxford Capital designates 5 of its Chicago hotels for coronavirus housing program

The 21c Museum Hotel at 55 E Ontario Street and the Hilton at 720 S. Michigan Avenue (Credit: Google Maps)

More hotels fall victim to coronavirus pandemic

Gov. J.B. Pritzker (Credit: (Photo by Scott Olson/Getty Images)

As clock ticks on small businesses, Chicago offer loan lifeline

One Bennett Park and Curt Bailey of Related Midwest (Credit: FishSaucer via Wikipedia Commons and Related)

Related’s One Bennett Park scores year’s priciest condo sale

Related Midwest President Curt Bailey & project rendering for 400 Lake Shore Drive

Related Midwest drops new details on $1B plan for former Chicago Spire site

CEO of VEREIT Real Estate Glenn Rufrano and Topgolf at 2050 Progress Parkway (Credit: Andrew H. Walker/Getty Images and TOPGOLF INTERNATIONAL, INC.)

Vereit pays $50M for Topgolf-leased Schaumburg complex

Taurus Investment Holdings CEO Peter Merrigan and 4000 S. Racine (Credit: Google Maps)

Going strong: Another massive Chicago area industrial portfolio sells

arrow_forward_ios
Loading...