New Markets Tax Credit Coalition

  • Chicago,
  • IL
  • (2019)

Jeffrey Plaza/Shop & Save Market

District: Robin Kelly (D-IL02)

In February 2019, CDF provided $12 million in NMTC allocation to 7131 Jeffrey Development to fund the purchase of the entire 113,300 sq. ft. Jeffery Plaza shopping center and renovation and equipment purchase and installation for a 62,300 sq. ft. full-scale Shop & Save Market grocery store.

Investment

  • NMTC Amount: $11,760,000
  • Total Project Cost: $24,627,229

IMPACT

  • 180 FTE jobs
  • 123 construction jobs
  • 113,000 sq. ft. of real estate

CDEs

Investor

Project Description

In February 2019, CDF provided $12 million in New Markets Tax Credit (NMTC) allocation to 7131 Jeffrey Development, LLC to fund the purchase of the entire 113,300 sq. ft. Jeffery Plaza shopping center and renovation and equipment purchase and installation for a 62,300 sq. ft. full-scale Shop & Save Market grocery store in the center’s former Dominick’s space.

The project also includes site work and an allowance for tenant improvements in the non-anchor spaces. The project is located at the southeast corner of 71st Street and Jeffery Boulevard in the South Shore community area.

External Profile
External Profile 2

MAP

Address: 2101 East 71st Street, Chicago, IL 60649

Census Tract: 17031430600

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