ULI Chicago has partnered with LISC Chicago to create Yield Chicago, a learning network that will build capacity of emerging commercial real estate developers of color in Chicago, support local wealth creation, and help bring visions of authentic neighborhood projects to life in South and West Side Chicago communities.

Yield, funded by JPMorgan Chase and the Pritzker Traubert Foundation, pairs emerging developers of color with seasoned developers from the ULI Chicago membership community to build a robust network of shared learning that will advance catalytic projects in the neighborhoods of Chicago’s South and West Sides. LISC also provides the emerging developers one-on-one technical assistance across a variety of disciplines to help push their projects forward.

“A key way that LISC supports communities is through creating local wealth, and one of the most effective ways to do that is by investing directly in local businesses and entrepreneurs,” said Meghan Harte, Executive Director, LISC Chicago. “We’re thrilled to launch the Yield initiative to invest in local developers of color, who have a deep understanding of their communities and a unique stake in their future.”

“Yield is about building capacity among developers of color and building partnerships across the commercial real estate community in Chicago,” said Teri Frankiewicz, Senior Vice President & Chief Operating Officer, Crown Community Development, Yield Co-Chair (Teri also serves as a ULI Trustee & ULI Chicago Advisory Board member). “By bringing diversity of thought and talent to building resilient neighborhoods, we can build a better Chicago.”

“Our approach to bridging the gap is different because we are effectively creating a think tank versus a project or mentorship-driven program,” said Yield Co-Chair and ULI Chicago member Hugh Williams, SIOR, Principal/Managing Broker, MK Asset Management. “We hope the creation of dialogue between two parties that usually have no visibility to each other will lead to a virtuous circle of successful developments and continued communication.”

“I’m very excited by this dynamic collaboration between Chicago’s nonprofit and private sectors to uplift our city’s diverse developers and empower them to make positive, impactful change across our communities,” said Mayor Lori E. Lightfoot. “Our city’s future rests on all of us working together to marshal our shared resources toward a more inclusive, equitable and just future. This initiative
will activate the next generation of talented developers on our South and West Sides, helping them to advance critical projects that will spur further neighborhood investment and support every resident on their drive to success.”

“The COVID-19 crisis has further highlighted the racial and economic disparities that are affecting Black and Latinx communities on the South and West Sides of Chicago,” said Michelle Herrick, Managing Director, Real Estate Banking at JPMorgan Chase & ULI Chicago Advisory Board member. “Programs like Yield have the potential to create wealth in our communities while also helping support the development of critical infrastructure projects.”

The inaugural 2020 Yield Learning Network includes a small Cohort of emerging and seasoned real estate professionals who will share best practices and work together to further actionable real estate projects in South and West Side Chicago communities. Yield will focus on neighborhood-based commercial real estate projects, including retail, office space, restaurants, recreational
facilities and mixed-use development.

For more information or to get involved with Yield, contact us.