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Incentives/Policies for Renewables & Efficiency

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City of Chicago - Small Business Improvement Fund   

Last DSIRE Review: 10/16/2014
Program Overview:
State: Illinois
Incentive Type: Local Grant Program
Eligible Efficiency Technologies: Equipment Insulation, Lighting, Chillers , Furnaces , Boilers, Heat pumps, Central Air conditioners, Programmable Thermostats, Energy Mgmt. Systems/Building Controls, Windows, Roofs, Cool Roof
Eligible Renewable/Other Technologies: Solar Water Heat, Photovoltaics
Applicable Sectors: Commercial, Industrial, Tenant of commercial/industrial
Amount:25%, 50%, or 75% of the costs, depending on size of the applicant. The typical average grant amount is $40,000.
Maximum Incentive:Industrial property: $150,000
Single owner/tenant commercial property or landlord: $100,000
Multi-tenant building: $250,000 per property, $50,000 per tenant/landlord
Installation Requirements:Must be located in a Tax Increment Financing District (TIF)
Web Site:

SomerCor 504 Inc. administers the Small Business Improvement Fund for the City of Chicago. The fund utilizes revenue from Tax Increment Financing (TIF) and supports commercial and industrial properties, as well as tenants, within specific TIF districts to upgrade their facilities. Certain energy efficient upgrades, such as energy efficient windows, HVAC systems, and roofs may qualify for funding under this program and are encouraged.

The grants can cover up to 75% of the costs of the upgrades and are paid after the work is completed and expenses paid-up.

Commercial applicants are eligible if they have a maximum of $5 million in gross sales for each of the past three years. New commercial businesses must use projected sales. Industrial applicants may not employ more than 100 full-time equivalent employees. Landlord applicants may not have more than a net worth of $6 million, with total liquidity of no more than $500,000. Tenant applicants may not have more than $5 million in gross sales, and must have a leasehold interest in the property with at least 3 years remaining on the lease term. Additional eligibility requirements applicable, interested parties should contact SomerCor 504 Inc for additional details.

  Derek Walvoord
SomerCor 504 Inc.
601 South LaSalle
Suite 510
Chicago, IL 60605
Phone: (312) 360-3300
Web Site:
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2014 - 2015 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.