Chicago Cooperative Receives Six Month Rent Abatement for Gerber Building Lease

The Chicago Transit Authority (CTA) Board made a significant move during its August 13, 2025 meeting, approving a six-month rent abatement for Chicago Market, a cooperative grocery store, to support its development at the Gerber Building near Wilson Station. This decision aims to assist the co-op in overcoming unexpected construction costs that have delayed its opening.

The ordinance, which extends the lease by an additional six months, allows Chicago Market to pause rent payments from July 1 to December 31, 2025. This strategic support is designed to give the co-op time to secure additional funding necessary for its build-out, which has proven more expensive than initially anticipated. The board emphasized the importance of this initiative, noting the strong community backing for the grocery store, which is seen as a vital resource for local residents.

Director Raquel highlighted the need for ongoing support for small businesses in the area, advocating for a broader strategy to provide resources such as technical assistance and funding. The board acknowledged the challenges posed by post-pandemic inflation and changing market conditions, which have complicated the financial landscape for new businesses.

The CTA Board expressed optimism about Chicago Market's potential to secure the necessary funding and complete its build-out, reinforcing the belief that a successful opening would benefit both the community and the authority in the long run. The board's unanimous vote to place the ordinance on the omnibus for approval reflects a collective commitment to fostering local economic development and supporting community-driven initiatives.