Housewares retailer Crate & Barrel Inc. has agreed to lease most of a vintage loft building on the Near West Side, where the retailer will move its nearby catalog photo studio and establish a new headquarters for its CB2 division.
As part of the move, the city has agreed to provide $3.4 million in tax-increment financing to help pay for the $16.2-million acquisition and redevelopment of the building at 240 N. Ashland Ave. The Chicago Community Development Commission is expected to consider the proposal at its Oct. 14 meeting, according to a report prepared by the Chicago Department of Planning and Development.
Crate plans to bring its CB2 staff down from its Northbrook headquarters and move a photo studio there from its current location at 1201 W. Washington Blvd.
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