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Chicago Approves Loan and Financial Assistance for Affordable Housing Development

  • When: 2025/02/19
  • Address: 2120-2128 N Mozart St, 2847 W Shakespeare Ave, Chicago, IL
  • City: Chicago
  • State: IL
  • Category: Affordable Housing
  • Subcategory: Affordable Housing Development
  • Asset Class: Multifamily
  • Property Type: Affordable Housing

The City of Chicago has approved a city loan and additional financial assistance for Humboldt Park United Methodist Church, Inc. to support the construction, furnishing, and equipping of a low-income housing project at 2120-2128 N Mozart St and 2847 W Shakespeare Ave. The project aims to provide affordable rental units to families in need, aligning with the city's housing initiatives. The approval, introduced by Mayor Brandon Johnson, was finalized on February 19, 2025.

Why it Matters

This decision directly contributes to the expansion of affordable housing in Chicago, offering much-needed residential options for low-income families. The financial backing ensures the project's viability and long-term sustainability.

Source

Applicant - Humboldt Park United Methodist Church, Inc.