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Penny Pritzker Offers $10M Prize to Boost Local Development

The Pritzker Traubert Foundation has launched the Chicago Prize, which will award $10 million in grant money to a development initiative on the South and/or West Side.

It’s the first such contest sponsored by the foundation, which was launched in 2000 by Hyatt Hotels heir Penny Pritzker and her husband, Bryan Traubert.

The competition invites proposals for collaborative, community-driven initiatives focused on using neighborhood revitalization to increase economic success for residents. The foundation will award $100,000 in planning grants to as many as four finalists, one of which will receive a $10-million grant to implement its initiative over five years.

The deadline to complete the registration form is July 16, and the deadline for full applications is August 13. The foundation expects to announce finalists for the award before the end of 2019, and the Chicago Prize’s awardee will be announced in spring 2020.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Economy
  • ◦Financing
  • ◦Development