Neighborhood Opportunity Fund Grant

Are you located on a commercial corridor in the City of Chicago's South, Southwest or West Sides and want to renovate or build a commercial property?

The City of Chicago’s Neighborhood Opportunity Fund (NOF) was created by Mayor Rahm Emanuel to strengthen commercial corridors on Chicago’s South, Southwest and West Sides.

The NOF generates revenue from new developments in and around Chicago’s Loop, to finance commercial and cultural projects in neighborhoods that lack sufficient private investment. Grants can be up to $250K (larger projects need City Council approval).

Eligible applicants must be a business owner, property owner or other entity engaged in the sale of commercial goods and services or provision of cultural experiences. Projects may be awarded funds by the City of Chicago’s Department of Planning and Development if they demonstrate that they will have a catalytic impact on a neighborhood commercial corridor.

Learn more about the City of Chicago’s Neighborhood Opportunity Fund here.


ELIGIBLE USES

  • Permanent exterior improvements such as façade, storefront and roofing repairs
  • Interior remodeling including mechanical systems repairs
  • Land and building purchase
  • New construction
  • Professional fees including architectural services

REQUIREMENTS

  • Located on an Eligible Commercial Corridor or Priority Investment Corridor
  • Commercial businesses like grocery stores, restaurants and retail
  • Cultural projects such as theaters, music venues and art galleries
  • Applicants must be clear of city indebtedness

BENEFITS

  • Grants can be provided through escrow during project rather than as reimbursement
  • For new building construction, grants can be up to 30% of total eligible project cost
  • For building rehab, grants can be up to 50% of total project cost
  • Applicants with primary residence in NOF Qualified Investment Area earn the Build Community Wealth Bonus, increasing grant percentage by 15%

Dream it, Do it.

Find everything you need about the NOF Grant right here:

Learn More:

FAQs

NOF Program Overview


To learn more, including when the next grant application period is, visit the City of Chicago’s Neighborhood Opportunity Fund website.

Questions? Reach out to us!