FALL 2008

SBIF Info Meeting - December 3, 2008 

Approval of a second round of Small Business Improvement Funding (SBIF) is anticipated in 2009.  That makes this a great time to contemplate investing in your property.  Improvements eligible for reimbursement grants of up to $150,000 include the purchase of adjacent property, updating mechanical systems, replacing windows & doors, awnings & signage, tuckpointing, roofing & flooring, …the list goes on.  New construction and equipment are not eligible.

Please join directors from the LRC and Chamber of Commerce to learn more.  The coffee is on us at Burger King, 11020 S. Kedzie, on Wednesday, 12/3, 8:15-9:15 a.m. John Paulun, the program’s administrator for the City of Chicago, will be there to explain how the program works, who qualifies, and answer your questions.

Signature Corner

Progress continues in completing the final steps to allow for groundbreaking.  Watch our website for updates.  We’re told the actual construction phase is a mere five months or so.  It’s going to happen and it’s going to be great!

Baby Steps

Just as incremental taxes are captured and grow into a measurable resource, incremental physical improvements begin to produce a more favorable appearance.  Recent changes helping 111^th Street to look better / cleaner include:

• Removal of the enormous billboard from the southeast corner at Kedzie behind the Currency Exchange, thanks to community-minded property owners. (If you remember, this once displayed the Marlboro man actually blowing smoke.)

• Landscape and parking lot renovations on the northeast corner at Kedzie by the property owner

• Ornamental fencing at Kurek Bros., 3425 W. 111^th St .

•  Landscaping and removal of cyclone fencing at 3537 W. 111^th St .  SXU’s Office of University

• Relations oversees all aspects of internal and external communications for Saint Xavier   University . This includes Media Relations, Publications, Marketing, Community and Government Relations, Special Events, the University Magazine and the University Web site.

•  Demolition will be scheduled at 11040-44 S. Kedzie in preparation for the Signature Corner

• MGLRC’s continued maintenance of the City lot & walkways west of Walgreens

Dog Gone It

We’re sorry to lose a great tenant, but hey, congratulations to Posh Pet Day Spa & Doggie Day Care on growing a very successful business from the ground up.  It’s easy to see you love your work.  Our best wishes for continued growth and success in your new home at 3514 W. 111^th St. (formerly Un-Real).

Chicago’s Department of Business & Licensing

This ‘one-stop-shop’ provides specialized business assistance on these topics and more:

• License application & renewal

• Business start-up & expansion

• Tax information

• Permits

• Use of the public way

• Zoning issues

• Inspections and regulations

Attend a DBA Business Education Workshop.  All workshops are FREE and are located at City Hall, 121 N. LaSalle, Department of Business Affairs and Licensing, Room 805.  Reserve a spot by calling 312-744-5344 or visit online at www.cityofchicago.org/businessaffairs

Banners

A few Mount Greenwood 100^th Anniversary commemorative banners are still available.  What a perfect addition to your garden or patio!  Consider this unique gift for relatives, employees, retirees, and customers, or it could be just the right touch for your student’s dorm decor. How about that ‘hard to buy for’ person you pick in the holiday grab bag?  It’s perfect!   - Banners are 30” x 60” and $50 each.

Green Survey

You may be surprised to learn that it’s older consumers who buy more green products.  Despite conceptions that the “green” movement is for youth, a recent market survey found that women, between 55 and 59, were over twice as likely to use green products as the typical consumer. According to the household products survey by ICOM Information & Communications, men between 65 and 69 are a close second. ICOM conducted the survey of 6,036 nationwide consumers in March and April.

Of those who said they do not use environment-friendly products, men and women between 25 and 34 were among the “least likely” to use such products versus the national average.

Hello & Goodbye

Welcome Tom Leonard (Leonard Construction Co.) to the Board of Directors.  Tom brings years of practical experience in new construction and property rehabilitation, and we’ve got plenty of ideas for both.

We extend a huge thank you to departing Board members 1^st Past VP Mike Geary (Founders Bank) and 1^st Past Treasurer Joe the Accountant (Joseph A. Murray CPA, LLC).  Both men provided time and expertise that directly translated into successful efforts to assemble properties for development and eliminate blighted buildings, while retaining corporate solvency.  You will be missed. Thanks again.

WHO, WHAT, WHERE?

Business recruitment is a very important function of the LRC.  Staff and directors regularly attend real estate industry conventions & networking events in search of viable tenants for commercial space.  We scour real estate publications and web sites for businesses with site selection criteria that is a fit with community demographics, such as income level, population density, and traffic counts.

We rely on you, the residents, commercial property owners, elected officials, and other stakeholders in our community, to provide additional leads and suggestions for potential tenants and improvements.  If you can identify community needs that are not currently being met in the business district, we can focus on attracting that type of business.  

One of our favorite success stories is Face To Face Salon & Spa at 3502 W. 111^th St. 

Back in 2000, the building was owned by two gentlemen who made altar candles        for Greek churches in the southwest suburbs.  Conditions inside and out were        poor at best.  Another local businessman suggested MGLRC purchase the property and rehabilitate to attract a quality tenant.  Nearly two years after initial conversations with the building owners, MGLRC closed on the property.  It was in desperate need of upgrading from floor to ceiling. 

About the time of this purchase, a resident suggested we contact Toni Quinn , owner of Face To Face in Evergreen Park .  Toni was interested in purchasing a commercial building.  She had ideas for how her shop would look.  Her        preference was a property that ‘needed some work’ so resources could be poured       into renovations.  A match made in heaven with the candle factory!  MGLRC sold the property ‘as is’, a great deal for the buyer and a perfect ending for MGLRC.

The timing was right for the owner to tap into the SBIF program (see page 1), which provided a $50,000 boost to the renovation budget.  The owner reported     business practically doubled after the first year.  Face To Face joined the Chamber     of Commerce, participated in Party in the Park, regularly donates through its patrons to local schools and events, and maintains an attractive storefront.

This win/win story was only possible because of combined efforts of the local   business owner who suggested the site for rehab, the resident who suggested this         business as a potential tenant, Alderman Rugai and Founders Bank who worked to create the SBIF program and MGLRC for coordinating efforts.

Trees & Stamps

Our free newsletter has been informing the community since 1998.  Beginning with the next issue, we’ll be virtually paperless.  Sign up at our website, www.mglrc.com to receive future “e-newsletters”.

Archer Bank - Bank After Hours (BAH)

Thanks to Branch Manager Nancy Merlo for hosting the Business After Hours Loan Seminar 11/6 at 3435 W. 111^th St .  If you didn’t have the opportunity to attend, you may contact the bank at 773-840-2001.

Available Properties 

Ask about discounts before 2009.  773-881-0622

11104 S. Kedzie    800 s/f

3207 W. 111^th St .  1,100 s/f

3255 W. 111^th St    900s/f

Ideas or Suggestions

We need and appreciate your suggestions. 

Call us at 773-881-0622 or email mglrc2000@wowway.com