Fair Warning
In 1994, Imre Hidvegi and Edgar Alvarez opened Chicago Soccer, a soccer supply store, in a vacant storefront on the 4800 block of North Western. “It was just the two of us, and we did maybe $50,000 in business” to start, says Hidvegi. The block in question is part of the Western/North tax increment financing district. As faithful readers know, a TIF puts a 23-year cap on the amount of property taxes in a given area that goes into the public coffers, diverting any new revenues into a fund controlled by the mayor....