The City of Chicago's Small Business Improvement Fund (SBIF) is a Tax Increment Financing (TIF) program which will reimburse building owners for TIF-eligible investments.  Projects must preserve building stock, improve neighborhood appearance or economic value, and enable businesses to stay in the neighborhood, remain competitive or even expand within the TIF.  The Near North TIF district includes but is not limited to  portions of Wells Street, North Avenue, and Division Street in the service area of the Old Town Merchants and Residents Association.
Grants are only available in the form of reimbursement.  Depending on business size and annual revenue, funding is available for 25% - 75% of SBIF-eligible costs.  There is a maximum assistance of $150,000 per project and per applicant.
Eligibility for this program is open to both property owners and lessees.  Commercial applicants will have a maximum of $3 million in annual sales for the past three years.  Industrial applicants have no sales requirements but may not employ more than 100 full-time employees.  Landlord applicants have a maximum net worth of $6 million and total liquidity of no more than $500,000. 
Eligible costs include:
You can also contact Somercor, the administrator of the SBIF program, at 312-360-3300.  Applications and more information of the Small Business Improvement Program for the Near North TIF area are available at www.somercor.com.