Small Business Improvement Fund Grants
Register now for June 7 open house event
Those interested in learning more about the LaSalle Street SBIF grant opportunity are invited to attend a walking tour of available storefront properties on the corridor at 2 p.m. Wednesday, June 7. A reception with refreshments, program information and networking opportunities will follow at 4 p.m.; reservations are open now.
Grants up to $250,000 are available for new retail, dining and cultural projects along LaSalle Street in the Loop.
As part of the LaSalle Street Reimagined initiative, funding from the City's Small Business Improvement Fund (SBIF) is being made available to help entrepreneurs create cafes, restaurants, stores and other neighborhood-oriented amenities for the Loop's growing population.
From Sept. 1 to Oct. 2, SBIF applications will be accepted for ground-level projects within the target LaSalle Street corridor that serve local residents and businesses (see map below for target corridor boundaries). Qualifying projects are eligible for up to $250,000 in grant funding, with $50,000 bonuses available for businesses expanding from low- and moderate-income neighborhoods.
SBIF provides grant reimbursements for approved permanent building improvements and repairs, including but not limited to:
- Storefront and facade upgrades
- Interior renovations and fixtures
- Plumbing and electrical work
- ADA compliance
- Architectural and construction management fees
The SBIF funding will complement the creation of more than 1,000 planned mixed-income apartments near LaSalle and Adams and the influx of thousands of Google employees planned for the former Thompson Center at LaSalle and Randolph.
Landlords and tenants of commercial properties are eligible to apply. More detailed information about eligibility, program rules and application materials are forthcoming and will be posted to this website when available.
Any additional questions about SBIF funding can be directed via email to sbif@somercor.com.
Informational Webinar
Businesses interested in learning more about the LaSalle Street Reimagined SBIF program are invited to attend a virtual informational webinar at 1 p.m. Thursday, June 1. Registration is open now via Zoom.
The webinar, hosted by the Department of Planning and Development and SomerCor, will be focused generally on the SBIF program and not on individual real estate sites. For more information regarding real estate opportunities on the LaSalle corridor, please register to attend the June 7 open house and reception.
