The City Council of Chicago approved a Class 6b tax incentive and a redevelopment agreement with 1300 NN Branch LLC for a property located at 1300 N North Branch St. The property is an approximately 92,995 square foot industrial facility that has been vacant and unused for over 15 continuous months. The incentive aims to facilitate the substantial rehabilitation and re-lease of the facility, which is intended primarily for industrial purposes. The City determined that special circumstances, including the extended vacancy, justified deeming the property "abandoned" for the Class 6b classification. This classification provides real estate tax relief under the Cook County Tax Incentive Ordinance. The project is situated within the City of Chicago Enterprise Zone No. 4 and is expected to contribute to economic development and job creation.