An Investigation into the Impact of Hazardous Waste Contamination Liability in Urban Industrial Land Redevelopment in the City of Chicago GCP-95-5

Daniel T. McGrath
Daniel T. McGrath, Coastal Economic Development Specialist with the Illinois-Indiana Sea Grant Program

The purpose of this research is to investigate empirically how the behavior of buyers and developers of industrial property in Chicago might be influenced by the perceived contamination risk. There seem little question in most policymakers’ minds that this problem exists, and that its impact is quite substantial. This study is focused on taking a historical look at the problem and presents a method to measure its impact on both industrial land value and industrial redevelopment within the City of Chicago. There exist no previous studies that have attempted to systematically measure this problem, and this study hopes to begin to fill that gap.

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