The Homewood Village Board approved an amended resolution for the Cook County Class 8 property tax incentive for a rehabilitated office building at 17911 Harwood Ave. at the Jan. 13 meeting. 

The request was submitted by property owner Beverly Spearman, who wanted a technical amendment to the incentive that was originally approved by the board in August 2025, Angela Mesaros, Homewood director of economic and community development, said. 

The Class 8 incentive is designed to encourage redevelopment by easing the burden of high Cook County property taxes. Under the program, qualifying properties are assessed at 10% of market value for the first 10 years, with higher assessment levels in later years if the incentive is not renewed, Mesaros said. 

The amendment was required because Spearman purchased the two-story, 1,853-square-foot office building in 2021 and the vacancy occurred under the same ownership rather than through a new purchase. As a result, the Cook County assessor required the resolution to include a finding that “special circumstances” existed, she said. 

According to Mesaros, those special circumstances were based on the property being re-occupied and renovated after being vacant since 2018 when the previous tenant moved out. The property is now used as the office for The Spearman Law Firm, LLC. 

Since purchasing the building, Spearman has invested more than $50,000 in improvements, including new flooring, and interior and exterior painting. She also had Americans with Disabilities Act compliance upgrades along with new doors and windows, and a new heating, ventilation and air conditioning system, Mesaros said. 

Property taxes for the building totaled $9,986.58 in 2023 and $8,450.61 in 2024. With the Class 8 incentive, Spearman will save approximately 60% annually, Mesaros said.