Using a sharp knife, cut the corn kernels off the cob. Set aside.
Brown the bacon in a skillet over medium heat. Drain on a paper towel-lined plate, but leave about 3-4 Tbsp. of bacon fat.
Meanwhile, boil the lima beans in a saucepan for 7-8 minutes. Drain and set aside.
Place the onion, pepper, jalapeño and okra into the skillet with the leftover bacon fat. Sauté for approximately 5 minutes.
Stir the corn kernels into the skillet. Add the cooked bacon and remaining spices. Lower the heat to medium-low, and stir until corn is tender, roughly 7-8 minutes.
Mix in the grape tomatoes and heat through, 1-2 minutes. Top with fresh basil.