Brandon Johnson, Mayor | Wikipedia
Brandon Johnson, Mayor | Wikipedia
The Forty Acres Fresh Market in the Austin neighborhood is set to benefit from a Cook County Class 7(d) property tax incentive, following a proposal introduced to the City Council by Mayor Brandon Johnson. The incentive is expected to save the grocery store approximately $485,000 over a 12-year period.
The new market, which is anticipated to open in late September, represents a $13 million investment that transformed a former Salvation Army building at 5713 W. Chicago Ave. into a full-service grocery store and includes a 2,050-square-foot branch bank.
The Class 7(d) property tax incentive aims to support grocery stores operating in areas where residents have limited access to fresh produce and other food options.
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