Bridge Development Partners announced its arrival to Cicero. The company announced the acquisition of the former GE Hot Point site at 16th Street and 54th Avenue in March with the plans to build a 320,000 square-foot facility for industrial-related needs.
Included in the project is a $20 million investment , resulting in an increase in property tax revenue for the town from $41,000 currently as a vacant lot to nearly $200,000 after investments.
“We are happy to see this kind of growth of Cicero,” said Town President Larry Dominick. “Reducing vacant lots increases safety for our residents and increased revenue to continue to provide high-quality services for everyone in town.”
The new center will create both temporary construction jobs and permanent jobs once the warehouse is ready to be leased to a tenant. Bridge Development joins dozens of national companies that have decided to relocate or to expand in the Town of Cicero, strengthening the tax base for residents and the community.