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9% GROWTH
in financial, home, and household operation purchases in the next 5 years
Why Chicago?
Why South Shore?
Nestled along Chicago’s lakefront, the South Shore community is perfectly situated for the renewal currently underway. Excellent transportation, solid housing stock, proximity to downtown and the coming Obama Presidential Center make this community a central player in the revitalizing Southeast region. Its dynamic human capital is equally as significant as its physical assets with residents ranging from global leaders, renown artists and educators to engaged residents and veteran and emerging community developers - South Shore is Making Waves!
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SERVICE & TRANSPORTATION
industries have higher concentrations of workers here than the rest of Chicago
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48k SQ. FT.
of turn key ready commercial space available
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$2.1 BILLION
in consumer spend and it will continue to grow
Why South Shore?
It's An Attractive Market for Investment
Community Snapshot
South Shore Community Asset Map
Nestled along the
southern tip of Lake Michigan, South Shore is replete with beautiful parks and
recreational outlets, among them 2 golf courses, 2 yacht clubs, and the iconic
South Shore Cultural Center. Transportation options abound with easy access to
main highways, multiple Metra stops and excellent public transportation. Its
proximity to the Obama Presidential Center is also stimulating tourism and
economic development in the area.
· 12
Schools
· 1 Library
· 3 Public Art
Pieces
· 6 Metra Stations
· 43 Park
Facilities
The city of Chicago has assembled a suite of
initiatives designed to provide capital and other supports to businesses who
locate in select opportunity communities -
Revitalization of commercial
corridors in 10 high profile opportunity
neighborhoods.
Build out of vacant city-owned lots. Six
awarded developments will soon transform the
neighborhoods.
New investment dollars are coming into South
Shore that are sure to catalyze even more transformational projects. Recent
additions include:
• ICE theaters
Inner City Entertainment plans to build an entertainment center to replace the old Urban Partnership Bank building at 7054 S. Jeffery Blvd. Inner City Entertainment has developed theaters in Chatham and Lawndale. But the South Shore project will be the company’s smallest, densest project yet. The development is “rightsized for the community and to be able to pack in all this excitement, fun and great food is amazing.
• Regal Studios
The estimated $60 million project could be a major economic driver for the South Shore area. It would create 250 construction jobs plus 34 permanent positions and roughly 300 production-related jobs during filming. The studio could also give a much-needed boost to struggling local businesses—and perhaps even kick-start the restoration of the landmark Avalon Regal Theater, which has sat vacant for more than a decade.
The entire project would cover more than seven acres along South Stony Island Avenue, between East 77th Street and South Chicago Avenue. The first phase would include six soundstages encompassing over 200,000 square feet.
• THRIVE
The $47.3 million development will produce a mixed-use project, creating 39 residential units on the south side of E. 79th Street in a new building. The historic Ringer Building will be converted into commercial space, including potential retail and restaurant uses as well as a community health center. The second new structure will rise to the north of the Ringer Building, holding 24 for-sale condominium units.
Whether you need an incubator, a storefront, a large retail outlet in a mall or a
sprawling manufacturing site, South Shore’s Got It! This robust network of
organizations and initiatives provide customized services to assist developing
businesses:
• South Shore Chamber of Commerce
• Small Business Development Center
• SSA
Two TIF Districts
• Nine Opportunity Zones
• Special Service Areas #42 and #50
• One Enterprise Zone
• Six Neighborhood Opportunity Fund Eligible Corridors
• Three priority corridors
Existing Businesses
Putting Your Business In the Street -
WORKS!
PROSPERING IN SOUTH SHORE
Businesses that have elected to invest in South Shore have become a part of the
fabric of the community and have much to share with prospective entrepreneurs who
are exploring this lucrative market.
South Shore business owners are reveling in
the success they have experienced in this rapidly revitalizing community.
LaForce Baker | V.P. of Community Impact
lbaker@worldbusinesschicago.com
(773) 837-7003
World Business Chicago
177 N State St #500 | Chicago, IL 60601
www.worldbusinesschicago.com
(312) 553-0500
For your commitment to the South Shore community and this effort,
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Dr. Carol Adam | Resident & Urban Prescriptives
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Devon Granger, | Granger Property Services
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Eva Jakubowski | Local Market Foods
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Yvette Moyo | Resident, The Quarry & Real Men Charities
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Eddie Roque | Local Market Foods
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Tonya Trice | South Shore Chamber of Commerce
We are grateful for your time and generosity, and hope you will take great pride in the important difference that you make in the South Shore community, and the lives of the people who live here.