City of Chicago Department of Planning and Development
09/25/2025 | Press release | Archived content
Property Tax Incentive Would Support Austin Grocery Store
Property Tax Incentive Would Support Austin Grocery Store
September 25, 2025
312.744.9267
The new Forty Acres Fresh Market in Austin would receive a Cook County Class 7(d) property tax incentive under a proposal introduced to City Council today by Mayor Brandon Johnson.
The incentive would provide an estimated $485,000 in savings over its 12-year term.
Expected to open in late September, the $13 million project converted a former Salvation Army building at 5713 W. Chicago Ave. into a full-service grocery store and 2,050-square-foot branch bank.
The Class 7(d) incentive supports the operation of grocery stores in areas lacking access to fresh fruit, vegetables and other foods.
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