Chicago-based real estate investment and development firm Sterling Bay launched SB Cares, a new philanthropic initiative that will bring together local members of the community and Sterling Bay employees to identify groups and organizations that focus on creating new opportunities for growth, whether individual or community-oriented. The initiative will then dedicate the time and resources necessary to help these groups achieve their goals effectively and visibly, to inspire and impact new audiences across the city.
“Transforming communities has always been at the heart of Sterling Bay’s mission, and we know that to be successful in accomplishing this goal, we must do more than just develop buildings. We must also invest in the residents who live and work within them,” said Keating Crown, managing principal at Sterling Bay. “Through SB Cares, Sterling Bay intends to create a legacy of social good by supporting the success and growth of organizations that benefit Chicago residents from all neighborhoods and walks of life.”
Since its inception, Sterling Bay has donated in excess of $8.2 million to nonprofit organizations, contributed $10.7 million to the Neighborhood Opportunity Fund and just last year supported over 100 local organizations spanning various important and impactful causes. In the last two years, the company built and donated the 81st branch of the Chicago Public Library system in the West Loop and raised Flag for the Fallen, a landmark 200-foot flagpole located at 1100 W. Grand honoring Chicago’s first responders who have lost their lives in the line of duty. Flag for the Fallen was raised in conjunction with 100 Club of Chicago, an organization that provides for the families of fallen first responders in Cook, Lake and McHenry Counties. Future plans call for an on-site memorial featuring the names of hundreds of local fallen police men and women, firefighters and paramedics.
Additionally, through ongoing work with Cara, a local non-profit that brings individuals in need back to the dignity and productivity of employment, Sterling Bay has helped create more than 65 new jobs for organization participants at over 25 of its Chicago properties to date.
“At Cara, we provide hope and support to thousands living in homelessness and poverty who truly want to transform their lives, but can’t do it alone,” said Tom Owens, founder of Cara. “Sterling Bay has been a longtime friend and partner of the organization and has provided support to Cara participants as they navigate the challenges of beginning their journeys toward self-sufficiency.”
Most recently, Sterling Bay hosted its 9th annual Benefit Bash in support of Misericordia, a local non-profit organization supporting Chicago residents with developmental disabilities. This year’s event, held on September 12, 2019, raised $475,000, of which 100 percent of the proceeds were donated directly to Misericordia.
“Sterling Bay is from Chicago, develops for Chicago and is committed to making a positive impact on Chicago,” said CEO of Sterling Bay, Andy Gloor. “As we continue to grow our presence here in our hometown, our commitment to transforming communities remains steadfast, and we look forward to continuing those efforts—together with our employees and neighbors—through the meaningful work of SB Cares.”