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Avalon Regal Theater

An Architectural Masterpiece. And More.

Closed on 08/16/19

min$125k

max$250k

funding goal 

Illinois

exemption used 

$28,000,000

pre money valuation 

$1,000.00

min investment 

$0

amount committed 

0

investors 

Security Type
Corporate Bond
Singularity, LLC (the “Company”) is selling Corporate Bonds at a price of $1,000 per Unit. Unaccredited investors can buy up to 5 Bonds. Accredited investors can buy an unlimited number of Bonds.
Bonus

The Avalon Regal Theater offers a unique opportunity for the community to invest in its success through the Seat Bond program. 

 

The purpose of this program is to promote self-investment and reduce reliance on government subsidies and other non-market based financing for community development in our neighborhood. 

 

The Seat Bond program includes 10 tickets to performances at the Avalon Regal Theater per year, in addition to invitations to exclusive investor events, VIP access to select shows, the ability to buy tickets to hot shows before they go on sell to the general public, and a named seat in the auditorium. The first class of bond holders will be recognized at the Grand Opening. 

 

The most important aspect of a Seat Bond is the fact that it is an investment, which means Seat Bond owners are not just patrons of, but investors in this integral part of the community.

 

Each Seat Bond is a $1,000 investment and includes:

  • 10 tickets to performances per year (does not include private events)

  • 8% annual return starting one year after initial investment

  • Return of initial investment after 3 years, with the ability to re-invest

  • Embossed name plaque positioned on an auditorium seat

  • Framed Seat Bond Certificate and duplicate name plaque

  • Annual 1099-INT form for reporting taxable interest income

 

Individuals or organizations can purchase multiple Seat Bonds. Seats Bonds in the first   row of the main floor are reserved for VIP members and have a $10,000 minimum. 

 

The Avalon Regal Theater will feature entertainment from everyone's favorite artists in R&B, Jazz, Hip-Hop and Rap, as well as theater, dance, film, comedy, and more. The theater will also be the first in the United States to have holographic technology. This is truly an exciting and historic opportunity for the community to invest in its own success.

Pitch

Who are we

The Avalon Regal Theater is a Chicago Landmark entertainment venue located at the largest intersection on the city’s South Side. Sitting at the juncture of 79th Street, the Chicago Skyway, Stony Island Avenue, and South Chicago Avenue, the Regal is the biggest theater  south of downtown Chicago, with a seated capacity of 2,250. Over the past ninety-two years, the Regal has hosted iconic artists like Billie Holiday, James Brown, Michael Jackson, Kanye West, and more. In the late 1960’s Aretha Franklin was crowned the “Queen of Soul” at the Regal.

While it has been closed to the public since 2010, in late 2019 the Avalon Regal Theater will be resurrected as the largest venue in the United States focused on the celebration of Black performing arts and culture. The Regal will also serve as the nation’s first dedicated hologram venue, drawing crowds from across the globe to Chicago’s South Shore community, home of former First Lady Michelle Obama and the future site of the ObamaPresidential Center.

Problem

The South Shore community most significantly lacks access to robust artistic and cultural programming. As so many musical and artistic legends debuted, performed and even grew up near the Avalon Regal, it's refurbishment and reopening will create a positive cultural outlet for the neighborhood.

Solution

The Avalon Regal Theater will serve as a model for community-driven market-based development; upon reopening it will shine as a beacon of hope and will stand as a testament to what is possible when inner-city communities invest in themselves.

Achievement & Traction
Kanye West has committed to investing $1 million to reopen the Avalon Regal Theater this year. 
While this commitment is tremendously impactful, we believe it's important for the community to join us in helping reopen this beautiful building to the world!
Market

The urban entertainment landscape in the Midwest is highly fragmented and the Avalon Regal Theater presents an opportunity for local and national promoters to consolidate programming in a venue that is better geographically situated to its patron base. While the constellation of North-Side theaters traditionally associated with performing arts is alive and well, the historical and nostalgic relevance of the Regal, along with its centralized location relative to its patron-base, set it apart.

Competition

The Regal also offers a better-priced alternative to downtown Chicago venues like the Arie Crown Theater and out-of-state venues like the Horseshoe Casino in Hammond, Indiana. The immediate area the Regal will serve is bounded on the north by 47th Street, on the south by 95th Street, on the east by Lake Michigan, and on the west by the Dan Ryan Expressway (the “Trade Area”). This Trade Area is comprised of 271,771 persons with annual total disposable income of $2.2 billion (source: ESRI Business Analyst).

Business Model

In addition to live performances, the Regal will actively pursue content production and new media opportunities across all platforms. The Regal is also working with the Chicago Regal Foundation to expand community access to the performing arts and technology. Other development phases in the immediate area include music studios and rehearsal facilities, retail, small business, and housing development. Future phases will also incorporate a technology incubator and innovation corridor, film studio, and establishment of the Museum of Black Music, all within the vicinity of the Regal.

 

 The development will significantly enhance 79th Street by increasing traffic along this major business corridor. In addition to increased activity and a safer environment, the project will generate substantial economic return for the entire region, most notably the small businesses directly adjacent to the Regal.

Team

Jerald Gary is Chairman of the Chicago Regal Foundation and a proud product of 79th Street on Chicago's South Side. Prior to purchasing the Avalon Regal Theater at age 29, he created a private equity fund to separately invest in real estate, technology, and businesses in the surrounding community. Before that, Jerald held various roles in enterprise technology management at Chicago-based Electronic Knowledge Interchange and at Killerspin, where he focused on software-enabled optimization of business processes. Prior to, he developed, wrote and executed derivative trading strategies. He began his career as a Portfolio Manager at LaSalle Global Securities and Trust Services (a division of LaSalle Bank), where he managed the risk and administration of fixed income derivatives.  Jerald completed separate studies in Aviation and Finance at the University of Illinois, Urbana-Champaign and subsequently worked in then-Senator Barack Obama’s United States Senate office as an intern.

 

He is an Associate Board member of Providence St. Mel School, where he was a John Philip Sousa Awardee and Chair of its Symphonic Band’s percussion section, as well as the Merit School of Music, where he was a percussion student in the Saturday Enrichment Program and drummer in the Honors Jazz Ensemble. He was also a percussionist in the Hyde Park Youth Symphony and the City of Chicago’s Gallery 37 Latin Jazz Band and studied percussion in Bangkok, Thailand as a teen. Jerald also participated in programs at eta Creative Arts, Alyo Children's Dance Theater, and the Chicago Multi-Cultural Dance Center as a child.

 

Jerald was included in Crain’s Chicago Business’ 2014 “20 in Their 20s” series of upcoming Chicagoans, and was named a 2015 Chicago Defender Man of Excellence, 2016 Chicago Urban League Innovator, 2016 WVON/Ariel Investments 40 Under 40 Game Changer, 2017 Trailblazing Illini, and a 2017 Harold Washington awardee by the Harold Washington Legacy Committee.

Use of Funds

The purpose of this offering is to recruit and reward a cadre of 250 highly-committed supporters of entrepreneurship in and around the South Shore community. These Commercial Bond Certificates provide a mechanism for creating passive income for investors and provide funding for an historic community institution. The proceeds resulting from their investment will be used to complete renovation of the building, purchase equipment, further promote the company’s offerings and help fund general operations.

 

The Company has set a minimum offering proceeds figure (the “minimum offering proceeds”) for this Offering of $250,000 or 250 Units. After the Minimum Offering Proceeds, have been reached, and the company decides to break the escrow, the company will engage a Stock Transfer Agent to transfer the certificates to the newly acquired security-holders.

Updates


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Documents

Business Plan Development View Download
Regal Theatre Offering Statement View Download
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