City’s “Neighborhood Opportunity Fund” has now collected $4 million from downtown developers

Published on Feb. 23, 2017 by Steven Vance


Photos of the Polish Triangle, at Ashland/Division/Milwaukee, and various attempts to improve it. Eric Pancer (left), WPB SSA (center, right)
  • The Polish Triangle Coalition is looking for a firm to donate design work to revitalize the plaza in Wicker Park (Our Urban Times)
  • An owner of 20 vacant lots in Englewood still wants to build new homes out of used shipping containers (DNAinfo)
  • Long read about development opportunities in Woodlawn, especially in the area next to the future Obama presidential library, where Apostolic Church of God owns about 40 vacant lots; if you’ll recall, the church’s previous pastor persuaded the CTA to demolish part of the 63rd Street ‘L’
  • Architizer explains every type of affordable housing, at the same time that HUD comes out with new snapshot data on the characteristics of subsidized and public housing in Chicago
  • William Freeland posted a striking infographic showing how many people, and how much wealth, has migrated out of Illinois
  • The city’s Neighborhood Opportunity Fund, which developers pay into by “buying density” for their buildings, has $4 million and will soon be accepting grant applications from small businesses in these areas
  • City Bureau looks into why it can be a problem for a small business district if many of the storefronts are churches, not businesses (Defender)
  • The two-flat makes Chicago Magazine’s list of “why we love Chicago”
  • Argus Brewery in Pullman is featured in a story about the history of their building, part of the Schlitz brewing company’s facility
  • More coverage of Alder Moreno’s attendance at a $50 per plate dinner to talk about gentrification: He wants to raise the demolition permit fee to preserve homes near the 606; The “People’s Potluck” happened on the same night to talk about the same issue.

Tip: Find out if a property can get funding assistance

Chicago Cityscape is an all-in-one tool for property professionals — developers, real estate brokers, and architects — to learn about properties you’re considering to add to your portfolio.

Quickly determine what kinds of programs are available at any Chicago property.

Look up any address to instantly determine the eligibility of a property for a density increase in a TOD zone, and whether it’s eligible for improvement grants from TIF districts, Special Service Areas, and the Neighborhood Opportunity Fund’s investment zones.

A property might also be in one of the Chicago Housing Authority’s opportunity areas, where landlords can get a cash bonus, or developers can get construction assistance for building multi-unit affordable housing.


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There will be way more than $4 million in the Neighborhood Opportunity Fund soon

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