City of Chicago - Opening the Door to Affordable Living

City of Chicago - Opening the Door to Affordable Living

Fact Sheet

Since 1989, the Department of Housing has helped:

• Create or preserve more than 57,000 affordable rental units.
• Promote and support homeownership for more than 15,700 households.
• Preserve or improve the homes of more than 34,000 homeowners.
  

Creating and Preserving Affordable Rental Housing

• Since 1989, DOH has helped to create or preserve over 10,000 SRO uinits, three out of every four SRO units in the city.
• Since 1989, DOH has helped to create or preserve over 5,600 units for seniors.
  Annually, DOH supports more than 2,000 very low-income rental units through the Chicago Low Income Housing Trust Fund. In 2007, with funding generated by a statewide $10 recording fee for mortgage documents, the number of households served by the Trust Fund will double to more than $4,000.
• Since 2003, more than 4,200 units of rental housing have been recovered, are under rehab, or are in receivership through the Troubled Buildings Initiative.
  Promoting and Supporting Homeownership
• Over 6,800 families have become homeowners through first-time homebuyer programs since 1993.
• Over 2,100 new homes have been built or are in marketing/construction through New Homes for Chicago since the program’s inception in 1990.
• More than 100 abandoned and vacant properties are rehabbed annually and sold to homebuyers and small investors.
  

Preserving and Improving Homes

Through the Emergency Housing Assistance Program (EHAP), approximately 1,000 low income households receive emergency repairs to their homes annually.

Since 2000, the City has assisted more than 1,800 units of housing through the TIF Neighborhood Improvement Program. Each year, nearly 600 seniors and disabled persons receive modifications to make their home more accessible. Hundreds of households are accessing benefits through in the Historic Chicago Bungalow Initiative, including appliance vouchers and home improvement matching grants.

For more information on the Department of Housing call 311 or visit www.cityofchicago.org/housing.

To view this and other real estate information go to http://www.mschicagorealestate.com/