Good News! I'm very pleased to announce that the Marcus Theater is on it's way to Country Club Hills. The property formerly known as the AMC Theater, located at 4201 West 167th Street, Country Club Hills, Illinois is currently owned by Country Club Hills Plaza LLC. The theater was a great asset to our community. It has been vacant for awhile. Country Club Plaza has signed a sales agreement with Marcus Theater, A movie theater chain that has four theaters in Cook County and 50 in the State of Illinois. The purchase was contingent upon the Cook County Board approval of the Class 8 tax incentive. This has been approved.
This tax incentive assesses the qualifying property at a reduced assessment level for a period of twelve years from the date the substantial rehab of property is completed. Class 8 assessment levels are (10%) of the market value for ten years, fifteen percent(15%) in year eleven and twenty percent(20%) in year twelve. This constitutes a substanial reduction from the twenty-five (25%) at which industrial and commercial properties are commonly assessed.
With the substantial rehab work that will be required, this project is anticipated to create 10 full time jobs, 165 part time and 50 construction jobs. At this time i'm inquiring about the qualifications needed for our residents to apply to obtain some of the aforementioned jobs.
*Check back here regularly to find out what's going on in Country Club Hills