Improvement Fund Dedicates $1 Million to Northcenter Small Businesses

When rainfall levels reached an all-time high in April, Dr. Max Lazarowich didn’t have to clean flood water out of his basement when the sewers backed up.

That’s because he installed a flood control system that not only kept water from coming into his chiropractic business, but also created more room for storage. 

To pay for the project, Lazarowich turned to the Small Business Improvement Fund, a grant program that uses tax increment financing (TIF) to help businesses pay for remodels and equipment upgrades. 

“It’s all about business retention and keeping businesses in Chicago, helping them get stronger and grow,” said Derek Walvoord, the director of the SBIF program in the city.

Northcenter businesses can apply for the grant and earn up to $150,000 for beautification and infrastructure improvements like roof and floor replacement. 

About $1 million is now available through June 3 thanks to a new allocation of funds, Walvoord said.

The program only applies to small businesses within the Western Avenue South TIF district, which runs down Western from Montrose to Belmont and through parts of Irving Park Road. 

It’s meant to help businesses exactly like Lazarowich’s Irving Park Chiropractic.

In 2007, the doctor moved his practice to Northcenter in a 100-year-old building at 1923 W. Irving Park Road.

Along with the flood control system, Lazarowich was able to install an energy efficient water heater, new floors and a drain tile system through the grant. 

“With the grant, it was a much more manageable improvement,” he said. “I’ve gotten lots of compliments on how it looks, it’s much nicer.”

The work, completed in February, paid about $21,000 of the $28,000 total cost.

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Lazarowich learned of the grant through the Northcenter Chamber of Commerce, who had an informational meeting on the SBIF program on May 2. 

“Anyone can get this funding if you’re an eligible business and in the district,” Walvoord said, predicting anything from dentist offices to restaurant applications.   

Businesses that aren’t eligible include those that make more than $5 million in sales a year and certain practices like pay day loan stores, liquor stores, astrologists, hotels and junk yards. 

Businesses can apply for the program through June 3 and money is given in a rebate fashion after construction is finished, Walvoord said. 

Applicants can find more information on applying here.