11.26.2019 – Downtown Hyde Park Chicago (SSA #61) Released the Silver Room Block Party Economic Impact Report
South East Chicago Commission is the designated Service Provider for the Special Service Area (SSA) #61. SSA-funded projects typically include but are not limited to: public way maintenance and beautification; district marketing and advertising; business retention/attraction, special events and promotional activities; auto and bike transit; security; facade improvements; and other commercial and economic development initiatives.
SSA #61 recognizes the benefits of customer attraction special events. One of the largest, most successful implementations of customer attraction in the Downtown Hyde Park Chicago footprint belongs to the Silver Room Block Party.
On July 20, 2019, the 16th Annual Silver Room Sound System Block Party was held in Downtown Hyde Park Chicago for the fourth consecutive year. Nearly 46,000 people attended the all day event that incorporated three stages, 150+ artists/performers, 90+ vendors, 8+ satellite locations and 1,000 roller skaters on a 10,000 square foot skating rink.
The social media and online engagement was remarkable and the exposure for the Hyde Park community was far-reaching to say the least.
In spite of a few exceptions, businesses in the district are major beneficiaries of the large gathering and must leverage this customer attraction to drive sales and customer retention.
“Some stores experienced up to 500% of normal same day sales.” – Eric Williams, Owner, The Silver Room
The economic impact of the all-day event is estimated at $2.3 Million.
The economic impact report provides a visual story of the events and a basis to review the benefits to the business district. Previous reports have been essential to assist with logistics planning and evaluating untapped opportunities.
The report is available on the Downtown Hyde Park Chicago website:
http://www.downtownhydeparkchicago.com/wp-content/uploads/2019/11/srblockparty2019-report-web.pdf