17,000 Square Foot Theater Venue

and Media Performance Studio.

Theori Fine Arts

Center
Investor Proposal

Theori Stages Inc

Theori Stages Inc.

Wendell Tucker, Artistic Director

Theori Stages Fine Arts Center

Proposal Package
Contact: 773.456.2749

How We Will Improve Chicago for Artists

Hello my name is Wendell Tucker. I am a playwright/director from the south side of Chicago. I am writing you
in hopes that you will help me bring a dream to life and create a transformative outlet for my community. In
2004 I had a vision of creating a venue where young people in Chicago could take their creative
inspiration and turn it into something concrete. You and I both know the value of art in shaping young
people that are caring, driven, and empathetic to the plights of their fellow man. In Chicago we have so
many talented people, who simply cannot afford to produce their art. Those can afford it, are forced to
venture out of their own community because there simply is nowhere for them to produce. The few venues
near our community either over charge or have their own personal agenda that does not include those
outside of their circle. This leaves two options: deferred dreams or going to produce work meant for our
community elsewhere, where they will never see it. I want to change that.
The vision that came to me is the Theori Fine Arts Center (TFAC). The concept behind TFAC is to give artists
who do not have the funds, political connections, and staffing, the opportunity to workshop, market, and
produce their work at a polished, professional level. My company Theori Stages and our sister company
Reflective Music would function as mentors for new artists, looking for an outlet for their messages. We would
provide the venue, experience, and when necessary the staffing to materialize their concepts, while
allowing them to EARN money from their craft as opposed to going further into debt trying to create. This
will create opportunities in our neighborhoods. It will give young people a place to be, besides on the
streets. Our elders will be able to share our collective history. Most important we will be realizing dreams
and hopefully saving lives.
The physical venue would function as a performance venue, training facility, networking hub, and a fine
dining establishment. It will be a cultural and social boon to our community. Entertainment venues attract
businesses to the local surrounding area, which employ more people, who are then able spend more
money; in effect boosting our local economy. The location we have chosen is close enough to the
downtown area to attract patrons who typically do not venture south, while still being able to cater directly
to our community.

Theori Stages Inc.

Wendell Tucker, Artistic Director

Theori Stages Fine Arts Center

Proposal Package
Contact: 773.456.2749

It is accessible and in line with Mayor Emmanuels vision to revitalize business on the south side. Our
ownership as minorities helps to negate gentrification and protect our cultural history in the South
Loop/Bronzeville area.
To maintain fiscal stability we will pursue the following revenue streams:
1)
2)
3)
4)
5)

Original Programming from Theori Stages and Reflective Music

Business Hour Dining at our onsite restaurant
Rental of our Dance, Recording, and Video Production Studios
Rental of our Grand Theatre and Black Box Theatre
Arts Grants and Endowments

Our staff is composed of well educated, talented individuals with experience in their respective fields, who
have the ability to mentor burgeoning artists, while still being young enough to find innovative ways to
redefine what it means to create. Our support system has decades of experience in venue management,
talent development, technical direction, and financial management. They will help guide us in making sure
that our altruistic goals never subvert our fiscal responsibilities. We are not in this for the short term, Theori
Fine Arts Center is going to be a permanent part of Chicagos cultural community.
We are asking your support in securing the financing for this undertaking. The first landmark in the process is
to build a consortium of investors. To secure this property we will need to have a rock solid financial
foundation. With a diverse group of backers, we will not only have the funding to open TFAC, we will be
have a diverse board that can provide valuable insights into the economic and social climate of Chicago.
These individuals will see their investment pay monetary and societal dividends. Your investment in us will
help small production companies become profitable by providing intriguing programming that the entire
city and all of our visitors will have access to. This constant flow of revenue and traffic will give even more
visibility to your businesses and provide another income stream for you.

Theori Stages Inc.

Wendell Tucker, Artistic Director

Theori Stages Fine Arts Center

Proposal Package
Contact: 773.456.2749

Investing and Returns

Our goal is to arrange $4.5 Million in funding through investor partnerships, grants, the City of Chicago TIF
program, crowdfunding and endowments. Approximately $2.9 Million of this funding will go to securing the
property, the initial build out of the venue, and leasing over a 10 year period.

Anticipated Cost (10 Year Total = $4,315,000)

Insurance,Taxes, and
Legal, $1,275,000.00

Equipment ,
$150,000.00

Leasing

Leasing, $2,890,000

Equipment

Insurance,Taxes, and Legal

We estimate our first 2 years operating budget to be $1 Million, with approximately 20% dedicated to
cover developing our customer base, and setting up a foundation fund to immediately begin our
collaborations with local artists. We are offering a 15% simple interest plan for all investors over a 5 year
period. Generated income will be placed into a trust that will make quarterly payouts to investors. All
investors will be named to our board of directors, and will receive full disclosure to how funds are used,
what is being produced, and future projects.
Investors will also receive marketing space in all customer facing production literature, our investor wall, and
our digital properties.

Theori Stages Inc.

Wendell Tucker, Artistic Director

Theori Stages Fine Arts Center

Proposal Package
Contact: 773.456.2749

Proposed Location: 2210 S Michigan Avenue, Chicago, IL

Property Information:
First Floor - 9000 SQFT
$22 a year NNN 10yr lease + $7.50 per year for CAM, Taxes, Insurance
'White Box' build out at Landlords expense
+
Second Floor - 8000SQFT
$16 a year NNN 10yr lease + $7.50 per year for CAM, Taxes, Insurance
'White Box' build out at Landlords expense
*Please note that these numbers are market offers only and do not represent final terms. Current projections
assume a $17 a year NNN 10yr lease for the combined purchase of both floors.

Theori Stages Inc.

Wendell Tucker, Artistic Director

Theori Stages Fine Arts Center

Proposal Package
Contact: 773.456.2749

Grand Theater
The Grande Theatre of the Theori Stages Fine Arts Center, is the centerpiece of our venue. This dinner
theater venue is perfect for stage plays, concerts, award shows, luncheons, and conferences. The theater
features a brand new state of the art LED Lighting System, a new digital audio system, and newly finished
stage. The venue will function as a fine dining establishment specializing in, Modern American Cuisine,
during business hours. At night, the venue becomes a full dinner theater and nightlife hotspot in the South
Loop. The venue will be available for independent production companies to rent on nights when it is not
housing a Theori Stages or Reflective Music production.
Petite Theater
The Petite Theatre will be a hotspot for the newest comics, poets, and singers. This intimate black box
space, is perfect for smaller performances and allows artists to get up close and personal with their
audience. This venue will feature weekly programming, and will help to build a recurring audience. With an
onsite bar, full audio and lighting capabilities, configurable floor layouts, and HD recording, this space will
offer flexibility to accommodate a myriad of events.
The Petite Theater will feature 7 day primetime/late night entertainment to add consistency and build a
regular customer base. All events will include bar service and late night dining. Events will be hosted by
local artists and will utilize a shared fan base directory generated by participating companies. Poetry,
Comedy, and Improv nights will be recorded and distributed via the Theori Media website and YouTube
Channel.
The Petite Theater will be available for rental by outside companies and organizations. Our current
schedule for non-rental nights is as follows.
Sunday
Poetry

Monday
Industry
Night

Tuesday
Comedy

Wednesday Thursday
Karaoke
Open Mic

Friday
Improv

Saturday
Hip-Hop
Karaoke

Theori Stages Inc.

Wendell Tucker, Artistic Director

Theori Stages Fine Arts Center

Proposal Package
Contact: 773.456.2749

Rehearsal Spaces and Reflective Music Labs

The second floor of the Theori Fine Arts Center will feature (4) dance studios, (2) music rehearsal rooms, (2)
recording studios, (1) photography studio, (1) internet radio/podcast studio, (1) green screen video
production studio, and editing bays. These will be consistently available production companies for rental.
The audio facilities will be managed by our sister company, Reflective Music. All studios will include basic
video recording that can be connected directly to any Windows/Mac laptop and directly recorded for
non-professional use. Professional recording equipment will be available to all renters for an additional
charge (except in recording studios, where equipment will be part of base rental fee.) In house servers will
be available to house produced material as a value adding service.
Preliminary Income Profile
Venue rental and in house production will be our primary sources of revenue. Theori Stages will be the
resident theater company for the venue. Each season of performances (September May) will typically
feature 3 main stage productions running on a traditional 5 performance weekend schedule for 4 6 week
runs in the Grande Theatre. Each main stage performance has an audience capacity of roughly 200-350
(contingent upon seating arrangement). In this example we will assume 40% average attendance over a
4 week period for the Grande Theatre with a moderate price point of $25 per ticket.
Show
Slow Jams

Performances
20

Attendance
4200

Ticket Cost
$25.00

Revenue
$105,000

As you see, performance revenue from one production, in one facility, performing below the 50% mark
generates enough revenue for roughly 25% of annual leasing cost (approximately $340000). This
conservative hypothetical obviously does not account for performance costs, but is simple an example of
what will be generated by the venue.
Making the most of the space is of utmost importance. We see ease of access, flexibility, and reasonable
pricing as our main differentiators. Typical hours of operation will be from 7am 3am. This removes time
constraint limitations for artists on the South Side allowing them to convert travel time into production time.
This allows the venue to generate revenue throughout the day and removes the reliance on ticket sales.

Theori Stages Inc.

Wendell Tucker, Artistic Director

Theori Stages Fine Arts Center

Proposal Package
Contact: 773.456.2749

For performances a cash bar will be available, and within the first two years, our Grande Theatre will also
feature dining during business hours and special performance themed brunches on the weekends. It will
also be available for special corporate events such as keynote presentations, product launches, award
ceremonies, and conference sessions.
Rental Rates
The following chart is an early mockup of rental fees and space inventory. This is subject to change as
the project becomes closer to open.
Space
Grand Theatre

Dance Studios A&B

Rental Rate
$1500 per night (Prime)
$750 per night (Off)
*$2 per ticket surcharge
$500 per night (Prime)
$250 (off)
$25 per hour

Dance Studios C&D

$15 per hour

7 Days A Week (6am 3am)

Recording Studio A

$50 per hour

*Flash media, Extra Mics, Pro
Cameras extra

7 Days A Week (6am 3am)

Recording Studio B

7 Days A Week (6am 3am)

Photography Studio

$25 per hour

*Flash media, Extra Mics, Pro
Cameras extra
$150 per hour (includes basic
lighting and audio)
Extra Cameras TBD ($40/hr max
Editing Bay: ($20/hr)
Secure Digital Backup ($20 week)
$40 per hour

Music Rehearsal Room A & B

$20 per hour

7 Days A Week (6am 3am)

Petite Theatre

Video Production Studio

Availability
Varies

7 Days A Week (7am 3am)

7 Days A Week (6am 3am)

7 Days A Week (6am 3am)

7 Days A Week (6am 3am)

*Additional equipment rental, staffing, and producing services will also be available on a case by case
basis.

Theori Stages Inc.

Wendell Tucker, Artistic Director

Theori Stages Fine Arts Center

Proposal Package
Contact: 773.456.2749

About Theori Stages

Theori Stages is currently celebrating their 10th anniversary season. Theori Stages was founded January 1,
2005 at Chicago State University, with the intent of educating and uplifting through Theatre from a modern
urban perspective. Since then, Theori Stages has pushed the boundaries of theater, offering unique
productions that shine a spotlight on issues plaguing a new generation. Theori Stages productions have
been featured at theatre festivals across the country, entertaining thousands. Their flagship production I
Still Love H.E.R. (atributetohiphop) debuted in 2005, and is currently one of Chicagos longest running
African-American Theater productions. Wendell Tucker Hates the World (2011), a revealing one man show
about life as a Black Man diagnosed with Major Depressive Disorder, brought awareness to the need for
improved mental wellness care in urban areas. Future Theori Stages events includes Slow Jams Vol 1, 10th
Anniversary performance of I Still Love H.E.R., the world debut of the psychological thriller Whispers, and
the opening of the Theori Fine Arts Center.
About Reflective Music
Reflective Music, LLC is a multi-faceted career assistance firm for urban recording artists. Founded in 2013,
the mission of Reflective Music is to create high quality music with and for its clients and help fulfill any
needs they may have. Built on the principles of Quiet Water Entertainment, MBK Entertainment, and
Motown, Reflective fosters an environment of collaboration, mutual appreciation, transparency,
camaraderie to ensure a family-like atmosphere and relatable content.
In its short existence, Reflective Music has released three albums and two EPs, worked on five critically
acclaimed theatrical productions, participated in several entertainment festivals across the country, and
has garnered a radio award nomination.