Chicago manufacturer looks to move to Franklin Park
Updated: December 2, 2012 6:11AM
FRANKLIN PARK — A manufacturer of machines and parts used in metal stitching hopes to move to Franklin Park within the next few weeks.
Deluxe Stitcher is located on Irving Park Road near Harlem Avenue in Chicago in a 30,000-square-foot building. It plans to purchase a 57,000-square-foot property at 3747 N. Acorn Lane for $1.8 million. The building has been vacant for 27 months, Economic Development Director John Schneider said.
Thursday morning, Franklin Park’s Economic Development Commission voted to recommend 6B status for the industrial site.
A property that gets a 6B rating is assessed at 10 percent of its market value during its first 10 years, 15 percent in the 11th year and 20 percent in its 12th year. Normally, industrial properties are assessed at 25 percent of their value.
Village trustees make the final decision on 6B status. They rely heavily on the recommendation of the Economic Development Commission, a seven-member commission of business owners in Franklin Park.
Frank Cangelosi started Deluxe Stitcher in 1970 with four employees. The company employs 51 full-time worker plus 10 temporary workers.