West Cook News

Cook County's Economic Development Advisory Committee (EDAC) has approved a resolution supporting the first-ever Class 7d property tax incentive application for a Pete’s Market located on Chicago's Southwest Side. This program, established in 2022, aims to address food deserts by promoting grocery store development through reduced property taxes for 12 years, with an option for renewal.

"We are thrilled that Pete’s Market is opening at a location where residents need easy access to healthy food," said Cook County Board President Toni Preckwinkle. She expressed hope that the tax incentive would inspire other grocery stores to expand into food deserts throughout Cook County.

Pete’s Market acquired the property at 3250 W. 87th St., Ashburn neighborhood, for $2.4 million as part of a $15.7 million investment. The site had been vacant since 2017 and was formerly an Ultra Foods store. Pete’s Market offers fresh produce, a full-service kitchen, and in-house butchers, creating about 60 construction jobs and 150 full-time positions through its renovation efforts.

Stephanie Dremonas, executive officer of Pete’s Market, emphasized the importance of incentives like this one: "It’s incentives like this that allows us to pour investments into both."

The Class 7d incentive reduces the standard assessment rate from 25 percent to 10 percent for the first decade, with potential renewals allowing further reductions. If not renewed, rates adjust to 15 percent in the eleventh year and 20 percent in the twelfth year.

This initiative aligns with Illinois Department of Public Health definitions of food deserts as areas lacking fresh fruits and vegetables due to insufficient grocery stores or markets. A recent IDPH report identifies this Pete’s Market location as being within such a desert.

Cook County Commissioner Donna Miller highlighted her motivation behind introducing the Food Desert Tax Incentive Ordinance: "By incentivizing grocery stores to open in food deserts, we can make progress toward improving health outcomes for all residents."

Graham Grady, chair of EDAC, noted multiple benefits: "Fresh food and vegetables will now be available...and the property will be returned to the tax rolls after having been vacant for over seven years."

Applicants must submit their applications to both the Cook County Assessor’s Office and Bureau of Economic Development with municipal support resolutions required for approval.

The City of Chicago supports Pete’s receiving this incentive as EDAC's resolution advances through final review processes at the Assessor's Office.

Commissioner Bill Lowry co-sponsored this legislation; he expressed enthusiasm about its impact on community growth: "This program highlights Cook County’s commitment to incentivizing growth where it’s most needed."