Property Tax Incentive Approved for New Ashburn Supermarket

The City Council of Chicago has officially approved a Cook County Class 7(d) property tax incentive for the newly established Pete's Fresh Market located in Ashburn, which aims to help offset the expenses related to its construction. This supermarket, which opened its doors in May 2024 at 3250 W. 87th St. , represents a $15 million investment and occupies an impressive 88,000 square feet of space. It replaces an Ultra Foods store that was shuttered in 2017, reflecting a significant shift in the local grocery landscape.

The approved incentive will yield an estimated $4. 6 million in tax reductions over a 12-year period, encouraging grocery store investments in economically challenged areas. This move is part of the Department of Planning and Development's broader strategy to promote sustainable growth and development across the city. The approval is not only expected to enhance local economic conditions but also provide residents with improved access to fresh food options. The store is operated by 87th and Kedzie West LLC, which is affiliated with Pete’s Fresh Market.

Overall, this initiative signifies a positive development for the Ashburn community, aiming to revitalize the area and support local residents.