Two Syllable Records is based in Brooklyn, but the heart of co-owner Zach Pollakoff is in Chicago. Pollakoff is from here, and in 2011 his interest in the local scene inspired him to make a cassette compilation of his favorite underground Windy City musicians. Next week Two Syllable drops a follow-up, Chicago Cassette Compilation: Volume 2, and it includes plenty of Reader favorites such as Cairo Gang, Gel Set, and The-Drum. Noname Gypsy, the young spoken-word poet turned rapper-singer whose effortlessly cool flow has popped up on some great local mixtapes in recent years, also appears on the compilation. Her contribution, the woozy, slightly luxurious “Cherrypie Blues,” is also today’s 12 O’Clock Track. Pollakoff put together a free release party featuring a live performance from MC-to-watch Frank Leone and a DJ set from The-Drum; it’s next Thursday at North Bar and it starts at 8 PM.