IN THIS ISSUE
  1. State of the State Breakfast
  2. Small Business Improvement Fund (SBIF) open for Lincoln Avenue North
  3. Small Business Job Creation Tax Credit advances in Springfield



Have questions or need assistance? Reach out to us at info@lincolnsquare.org.

June 11: State of the State Breakfast

We are honored to host our representatives in the Illinois General Assembly and our Cook County Commissioner for an engaging and informative State of the State Breakfast. We’re also especially excited to welcome Illinois State Treasurer Michael Frerichs, who will join the panel discussion to provide key insights into the recently passed state budget and legislative activity in Springfield.


The FY26 budget includes impactful provisions for small businesses—ranging from workforce and infrastructure investments to new economic development programs. This is your chance to hear directly from lawmakers about what these changes mean for your business.


Featured Panelists:

  • Illinois State Treasurer Michael Frerichs
  • State Senator Mike Simmons
  • State Representative Hoan Huynh
  • Cook County Commissioner Bridget Degnen


This panel discussion will offer highlights from both the Cook County Board and the Illinois General Assembly’s Spring session, and attendees will have the opportunity to submit questions in advance at the time of registration. We’re also inviting neighboring chambers to participate, broadening the scope of conversation and collaboration.


Event Details:

When: Wednesday, June 11

Where: Begyle Brewing, 1800 W Cuyler Avenue

Cost: $30 for Chamber Members | $45 General Admission (Includes Breakfast and Coffee)



SBIF Grant Open for Lincoln Avenue North Businesses

The Small Business Improvement Fund (SBIF) is now open for businesses along Lincoln Avenue between Foster and Devon, with applications accepted through May 30, 2025.


SBIF offers reimbursement grants of up to $150,000 for permanent building improvements, such as façade renovations, HVAC systems, ADA compliance upgrades, and interior buildouts. Funded through Chicago’s TIF program and administered by SomerCor, this grant is a great opportunity to invest in your property and grow your business.


Eligible improvements include: roofing, plumbing, electrical systems, ADA-accessible modifications, and permanent interior renovations.

Not eligible: residential work, landscaping, outdoor dining areas, or equipment-related expenses.


Is your property or business eligible?

Visit SomerCor to check guidelines and apply:

Click here to apply or learn more


Applications close May 30, 2025. Don’t miss this opportunity.

Small Business Hiring Tax Credit

Bill Advances

House Bill 1819 and Senate Bill 1505 propose the reinstatement of a $2,500 tax credit for small businesses that create new jobs. This initiative aims to boost local hiring, stimulate economic growth, and expand access to incentives for businesses that may not qualify for other programs.


Under the proposed legislation, eligible small businesses can receive a $2,500 tax credit for each net new full-time employee hired.



Who This Benefits:

  • Businesses with fewer than 50 employees,
  • Businesses who hire a new employee that works at least 35 hours per week,
  • Business whose new hire works for a minimum of 12 months,


This measure is designed to support small businesses and strengthen local communities through job creation.


Take Action: Contact Your Legislators

Help us advocate for small businesses by calling or emailing your state representatives and urging them to support these bills.

Representative Hoan Huynh – hello@rephoanhuynh.com | (773) 348-3434

Representative Ann Williams – ann@repannwilliams.com | (773) 880-9082

Representative Kevin Olickal – info@repkevinolickal.com | (847) 673-1131

Senator Mike Simmons – (773) 769-1717

Senator Sara Feigenholtz – (773) 296-4141


Your voice can make a difference in securing a fairer economic future for Illinois’ small businesses. Thank you for your support.


If you'd like to get involved in advocating for small businesses, please email Ian Tobin at ian@lincolnsquare.org

Through the Neighborhood Business Development Center (NBDC) program with the Chicago Department of Business Affairs and Consumer Protection (BACP), LSRCC is able to assist local entrepreneurs in navigating City Hall. LSRCC most commonly helps businesses start up, locate available real estate, connect to financial resources, find educational opportunities, and generally troubleshoot City-related issues.

We're available and invested in your success. If you have questions or need individualized assistance, please email Ian Tobin, Vice President/Director of Community Development, at ian@lincolnsquare.org.
 
Thank you! 

Two Neighborhoods. One Community. Working Together.

4505 N Lincoln Avenue, Storefront
Chicago, IL 60625
(872) 806-0685
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