Faced with a possible forced relocation, an iconic Chicago hot dog maker is considering a move from the North Side of the city to the South Side in Bridgeport. The more for Vienna Beef is due to a plan that will reroute Elston Avenue through the company’s current headquarters in an attempt to relieve traffic congestion, reports Chicago Real Estate Daily.
Vienna has signed a contract to buy a former Sara Lee Corp. hot dog factory at 1000 W. Pershing Road, confirmed co-president Jack Bodman.
The city wants to reroute Elston so it runs through Vienna's property at 2501 N. Damen Ave. The project wouldn't disturb Vienna's manufacturing because the street would be paved on vacant land just south of the company's 100,000-square-foot factory. The city would acquire the land from Vienna or, if the two sides couldn't agree on a price, seize it through its eminent domain powers.
Bodman confirmed that Vienna would seek tax-increment financing from the city if it decided to move to the South Side, but he declined to say how much. The Community Development Commission, which reviews all TIF requests, is scheduled to consider the Vienna move at its meeting next Tuesday, but Mr. Bodman emphasized that the company has not decided what it will do and is still in talks with the city.
“Nothing's set in stone yet,” he said. “We're trying to figure out the final details of the different options.”
Source: Chicago Real Estate Daily