- THE OFFERING
- THE TERMS
- THE DECISION MAKERS
At FLATS® Chicago we believe that small businesses are the lifeblood of our communities. They’re the local purveyors of meaningful goods and services, and the creators of jobs and opportunity. They’re the hardware stores that help build our community. They’re the café’s that create a sense of place in our increasingly virtual world. They’re the dedicated business owners whose very presence makes just any neighborhood our neighborhood.
That’s why we’re so proud to host #FLATSproject, a Small Business and Community Accelerator Project designed to give these unique businesses and the people who devote their lives to them a chance to hit the ground running with a kick-start of more than $100,000 in benefits to their business from day one. We’re looking for entrepreneurs who‘ve already poured their souls into their big idea, and are looking for an opportunity to make their business a part of a vibrant, diverse Chicago neighborhood.
Lawrence House application will open 2016.
FROM OUR ONCE VERY SMALL BUSINESS TO YOURS, #FLATSPROJECT HAS PUT TOGETHER THE ESSENTIAL OFFERINGS IN ORDER FOR YOUR BUSINESS TO GROW AND FLOURISH. IT’S OUR WAY OF SAYING, “WELCOME TO THE NEIGHBORHOOD.”
1 year free rent in a prominent ground level retail space valued at over $30 PSF NNN.
Support from the City of Chicago including: identification of available sources of city funding, including TIF Streamlined TIF, and SBIF. Technical assistance in applying for city funding. Assistance with business license and permit applications. Priority access to microloans.
$20-40K in tenant improvement (TI) funds and/or fixture and fittings allotment, and access to Flats design team.
Business Plan refresh/creation assistance and quarterly personal business advisory through Kellog School of Management.
Opening kick-off party hosted by FLATS® Chicago / City of Chicago / Uptown United
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Marketing assistance throughout the year by FLATS® Chicago and Uptown United’s expert team, including at least one additional event and social media promotion.
All ‘point of sale’ infrastructure and training from Square. As well as promotion through their social media platforms
All legal work associated with incorporating a small business provided by Brotschul Potts LLC
Creative Capital to refresh existing branding, web-presence, etc
Professional mentorships from two successful small business owners: April Francis of DOSE Market & Michael Salvatore of Heritage Bicycles.
THERE ARE JUST A FEW THINGS WE NEED FROM YOU BEFORE WE GET THIS PROCESS GOING, ALONG WITH A COUPLE OF THINGS TO AGREE TO IF YOUR BUSINESS IS SELECTED.
Applicant must submit a succinct and thorough presentation (this may be in the form of a video) of how and why their business will benefit the local community (1300 block of Wilson/1000 block of Lawrence) as well as the overall community of the 46th Ward. Be creative – we want to see what makes this business special.
Strong applicants will show 3 years ownership, including submitting financial statements, of existing business – this is not a small business incubator but rather a small business accelerator. We’re especially interested in getting your awesome web or home-based business on the street and in the community.
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For No. 1325, the monthly rent after year 1 will be offered at $1,250 per month and will be fully disclosed at beginning of each competition. Applicant must engage and guarantee a 5 year lease (year 1 at $0 PSF) on the commercial space at a discounted rent ($1,250 per month, 2.5% annual escalations).
Applicants must review the following PDF
THE DECISION MAKERS
ALTHOUGH THE FINAL DECISION WILL BE MADE BY FLATS® CHICAGO AND ITS PARTNERS, A GREAT DEAL OF WEIGHT IN THE DECISION WILL COME FROM THE FOLLOWING GROUPS:
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IN 2016, #FLATSPROJECT WILL BEGIN ACCEPTING APPLICATIONS FOR ITS SECOND SMALL BUSINESS AND COMMUNITY ACCELERATOR PROGRAM AT THE HISTORIC LAWRENCE HOUSE.
Located in Uptown Chicago, Lawrence House is one of the largest properties in the FLATS® portfolio and is an historic landmark on the Northside. This twelve-story building consists of five retail spaces below 373 apartments. The property is located near some of Uptown’s most popular historic landmarks such as the Aragon Ballroom, Riviera Theatre, and Green Mill. It’s only one block away from the Wilson CTA Red Line and just two blocks from Lake Shore Drive.
No. 1325 Wilson
IN 2014, #FLATSPROJECT CROWNED THE PUBLIC BARBER AS ITS OFFICIAL WINNER AT NO. 1325 WILSON. BE SURE TO CHECK OUT THE PUBLIC BARBER OR STOP IN FOR A FRESH CUT AND SHAVE.
The application is currently closed. Please stay tuned for more details regarding our next #FLATSproject at Lawrence House. To receive updates about the next #FP please sign up below.
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