Chicago Market Newsletter — October 2021
Build a Better Market
As you read this, our Build a Better Market Campaign is underway. The fact is, it takes a lot of money to open a food co-op, and there isn’t a corporate office halfway across the country that magically funds our store. WE fund our store. Owners like you. This capital campaign is what pays for the buildout and initial startup costs, and without financial support of Owners, we don’t hit our $3 million goal, and our store simply doesn’t happen. When one becomes an owner of a co-op, it’s an incredible opportunity to create positive change, but it also comes with responsibilities… the first of which is participating in the capital campaign to the degree you are able. It’s a powerful statement of support for all the good things Chicago Market will bring to our community.
In return, Chicago Market is going to bring benefits to YOU, too. The leadership of our Co-op has worked hard to develop a Preferred Stock purchase program that we believe offers a wonderful opportunity to our Owners. Our stock offering includes the potential for Series A Preferred Stock investors to receive an annual dividend of up to 7% once our Co-op is open, and Accredited Investors’ Series B Preferred Stock may offer dividends of up to 8%! And that financial investment you provide will mean Chicago Market can open and create all the other benefits we’re working towards. Valuable things like:
- Healthy local food from a business operating with environmental sustainability in mind.
- Over 80 new jobs for people from our community.
- Fresh, delicious, nutritious food purchased from hundreds of local farmers and producers.
- Profits that stay right here in our community, recirculating and fueling more positive impacts.
The Build a Better Market capital campaign is important for another reason, too: it represents Owners’ values in action! A fundamental aspect of co-ops is ‘economic owner participation’ — someday that will mean you shopping at the store. But first it means participating in this capital campaign. We’re offering preferred shares with an attractive (really attractive!) rate of return because it’s one way our Co-op can benefit Owners — when the Co-op does well, our investors (hopefully you) will also see the benefits from their investment: annual dividends of up to 7% of their investment, at Board discretion.
Chicago Market is able to offer potential dividends that are double what most start-up co-ops offer based on the strength of our market study and our business plan.
We have the right site.
We have the right leadership.
We have a rock-solid business plan.
It’s up to us, the Owners, to do our part NOW to help make Chicago Market a reality.
Our Build A Better Market Volunteer Call Team is already hard at work, so watch for their call in the coming days and weeks to get your questions answered. Or, if you would like to get more information right away so you can get started:
- check out the Memorandum online HERE
- contact Candace, our Campaign Coordinator, at 774.2974 or [email protected]
- visit our Build a Better Market Headquarters at Chicago Market on Wednesday from 2:30pm to 7pm during the Uptown Farmers Market or Sunday from noon to 4pm during SHOP/Open House
"I'm an investor because I want to shop at a grocery store that is locally owned and democratically run"
|"the project has never
been better positioned to succeed!"
"the Co-op has emerged at a time when we urgently need values-driven businesses and democratic institutions."
Dan Arnett, General Manager, Owner #1996
New Board Members
Welcome our new (and one returning) Board members! If you missed reading about them, you can still do so here. Their orientation steps have begun and they'll sit as Board members for the first time this Thursday at the Board meeting.
|Chris Burns||Leslie Jenkins||Grant Kessler||John Law|
We're still giving away $25 every week to shoppers at the Uptown Farmers Market. Stop by the Chicago Market table to register and the next one could be you! And in late October we'll draw from all entries for $100 in Chicago Market Bucks.
It's YOUR farmers market - come out and enjoy it, support the local food vendors and get entered to win.
Every Wednesday, 2:30 - 7:00pm at our future store.
- Uptown Farmers Market — 2:30 - 7:00pm, every Wednesday
- Board Meeting — October 14, 7:00- 9:00pm
- Open House/SHOP + Personal Care Product Drive — 11:00am - 3:00pm, October 17, Chicago Market
- Open House/SHOP + Dog Day — 11:00am - 3:00pm, October 24, Chicago Market
- Board Meeting — October 28, 7:00- 9:00pm
- Open House/SHOP + Halloween — 11:00am - 3:00pm, October 31, Chicago Market
News from Our Business Owners
The festival invites community members to invest in artists of the global majority, offering them space to consider, share, and take a breath. Over three days in our theatre and a livestream finale, we remember the lives lost to the brutality, negligence, and ecological apartheid of the last two years.
"This month marks us reaching our 8000-tons-diverted milestone! We’re so grateful to all of our 2700+ customers for trusting us to help them mitigate climate change through commercial composting. It makes us so happy to be able to do this meaningful work with you."