A health care consulting company plans to relocate to downtown Tinley Park, aided by a Cook County tax break that village officials voted to support.

At their Village Board meeting Tuesday, trustees adopted a resolution, which will be forwarded to the county, to reduce the property tax rate on the currently vacant commercial space that the company, Advis Group, plans to occupy.

In Cook County, commercial property, for tax purposes, is assessed at 25% of fair market value, and the incentive would reduce that to 10%, or the same level as homes are assessed at, for 10 years.

The tax break would equate to about a 60% cut in the annual property tax bill, Patrick Hoban, the village’s economic development manager, said at a recent Village Board committee meeting where the incentive was discussed.

Advis would occupy the entire first-floor commercial space at Springfort Hall, a condominium building at 17200 S. Oak Park Ave.

It will invest about $500,000 to refurbish the 8,000-square-foot space, where a fitness center had been, according to the village.

The space has been vacant since sometime in 2011, according to village officials.

Advis has 35 full-time and five part-time employees and is now in Mokena. Most of the company’s employees are lawyers with expertise in healthcare regulatory areas, according to company officials.

It expects to move into the space around Jan. 1 of next year, according to the company and village.

Myron Brick, an executive with Advis, said at the recent Village Board committee meeting that the company has been operating for about three decades and does business with clients in 42 states.

“We have a national reputation,” he told village officials.

Along with the tax incentive from the county, the building’s proximity to the nearby Oak Park Avenue Metra station was an important factor, he said, as many of the employees live in Chicago and will commute to Tinley Park.

Brick said the firm’s lawyers are “highly compensated” and would likely patronize restaurants and other businesses in the downtown area.

“We’re very impressed with Tinley Park and how we’ve been welcomed here,” he told trustees.

The Class 7 property tax reduction would need to be approved by the Cook County Board, but that is generally a formality if the municipality has endorsed it.

After being cut to 10% of market value for 10 years, the tax rate goes to 15% in the 11th year, 20% after 12 years then back to 25%, although the incentives can be renewed.

Hoban estimated that, were the space now occupied, the tax bill for the property would be about $87,000, with the incentive dropping the bill to about $35,000.