Cinespace Chicago Film Studios on Tuesday, April 2, 2013. (Brian Cassella/Chicago…
What was once an old steel plant but now the studio where "Chicago Fire" is filmed could get a property tax boost to help rehab the space and make room for a Lagunitas brewery.
Mayor Emanuel on Wednesday proposed a property tax incentive valued at more than $3.5 million over a dozen years to help Chicago Film Studio Holdings LLC continue to transform the North Lawndale space at 15th and Rockwell streets, according to a news release issued by the mayor's office.
The site is home to Cinespace Chicago Film Studios, which has been used to film NBC's "Chicago Fire" and "Boss" on Starz. About $39 million in rehabilitation and environmental remediation work has been completed on the 48-acre site since 2011, the release said.
"TV and film production are important aspects of the Chicago economy, for local talent as well as for out-of-town production companies that use local facilities," Emanuel said in a news release. "By lowering the cost of doing business, the tax incentive will make this facility more viable for this kind of work."
Work on the 1.3 million-square-foot complex will allow the addition of a 150,000-square-foot Lagunitas brewery, the release said.
The proposed ordinance, which would authorize a Class C tax status, will be considered by the Finance Committee.
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