Micro-Market Recovery Progam

After years of working in the community and fighting against vacant properties and foreclosure, the Northwest Side Housing Center (NWSHC) began participating in the City of Chicago’s Micro Market Recovery Program (MMRP), taking on Belmont Cragin as a neighborhood area of focus, working to improve stability and homeownership for residents.

The NWSHC’s MMRP area lies west of Fullerton Ave. to Cicero Ave., and from Long Ave. south to Diversey Ave. This small area has been identified as an area in need of neighborhood stabilization, one of 13 neighborhoods labeled as such by the City of Chicago. Our Belmont Cragin MMRP area was hit especially hard by the foreclosure crisis in 2008 and beyond.

The goal of the program is to stabilize the community by increasing the owner-occupancy in the focus area. In order to do this, the City of Chicago is offering “forgivable loans” for existing and potential income-eligible borrowers there. By offering these forgivable loans, families will be more invested in their neighborhood, and more potential homeowners will be attracted to the area:

  • For new homeowners, up to $15,000 available for down payment assistance

Click here for a link to the 2017 MMRP guidelines.

Click here for a printable version of the 2016 application.

Interested potential homebuyers and existing homeowners in the area should contact Julio Rodriguez at jrodriguez@nwshc.org or (773) 283-3888 ext. 108 today to see what assistance is available.