Ciere Boatright commissioner of the Chicago Department of Planning and Development (DPD) | City of Chicago Website
Ciere Boatright commissioner of the Chicago Department of Planning and Development (DPD) | City of Chicago Website
The developer of Ashburn’s new Pete's Fresh Market store would utilize a Cook County Class 7(d) property tax incentive to help offset construction costs under a proposal introduced to City Council today by Mayor Brandon Johnson.
Opened in May at 3250 W. 87th St., the $15 million, 88,000-square-foot structure by 87th and Kedzie West LLC replaced an Ultra Foods store that closed in 2017. 87th and Kedzie West LLC is an entity of Pete’s Fresh Market.
The incentive would reduce taxes on the property by an estimated $4.6 million during the 12-year term. The Class 7(d) incentive is intended to encourage grocery stores investments in areas challenged by economic conditions.
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