The Chicago Neighborhood ReBuild is a collaborative effort between City of Chicago, Chicago Community Loan Fund (CCLF), Cook County Land Bank Authority (CCLBA) and Community Investment Corporation to facilitate the acquisition and redevelopment of single family and 2-flat vacant properties for new homeowners in Chicago’s South and West side.
The purpose of the RFQ is to identify and partner with local single family and 2-flat developers who live and/or work on the South and West Sides.
Participation will benefit local developers by:
- Providing lower property acquisition costs creating a profit upon the sale of the home.
- Proving low-cost, low-equity financing. CCLF is offering construction loans at 5% for this program.
- Helping developers build relationships with the City of Chicago.
- Providing resources that will reduce rehab costs
The Chicago Neighborhood ReBuild Program RFQ seeks local Developers (including not-for-profit and/or faith-based organizations) with strong experience in rehabilitation and sale of single family and 2-flat properties, and a familiarity with the overall South and West Side community areas.
Developers interested in applying to and qualify as an eligible ReBuild Developer can download this application and return the completed version with requested information via email to [email protected] and [email protected]. Qualified ReBuild Developers interested in obtaining a CCLF Line of Credit will be contacted by a CCLF staff member to discuss the additional organizational financial information required as part of our underwriting process. You may contact David Feinberg at 312-252-0444 or at [email protected] with application or program questions.
READ REBUILD STORIES
https://cclfchicago.org/news/about-us/opening-up-to-cara/