Programs
New Construction
The City of Chicago has an inclusionary housing policy, the Affordable Requirements Ordinance (ARO), which details when specific projects trigger the creation of affordable homes/units. Those affordable homes/units created that are ‘for sale’ or designated for home ownership are then built by the developer and, once completed, administered by the Chicago Housing Trust. These units will be sold at a subsidized purchase price and have a renewable 30-year restrictive covenant with a affordable resale restrictions to ensure the long-term affordability of the unit. The maximum resale price will be the original purchase price plus a percentage of the market appreciation, and in most cases will be below market price.
The ARO was passed initially in 2007 and amended in 2015 and again in 2021 based on the findings and feedback of an Inclusionary Task Force which was commissioned in 2019. The 2021 ARO requirements and guidelines apply to developments approved in October of 2021 and thereafter. Developers seeking information on the ARO may go here.
Preservation
Administered by the Housing Trust, the Affordable Homeownership and Housing Program (AHHP) Acquisition and Rehab program is also available to partner organizations such as not-for-profit development corporations, community-based organizations, or community land trusts that wish to acquire properties for resale to eligible buyers according to the requirements of the Housing Trust. For more information on becoming a partner organization, please email to ChicagoHousingTrust@CityOfChicago.org.
Eligible properties include single-family detached homes, condominium units, townhomes, two-unit residential properties and vacant lots, located within the City of Chicago and in neighborhood areas designated and defined by the Housing Trust’s Board of Directors as ‘at risk of gentrification’, ‘gentrifying’ or ‘gentrified’.
Connect with Us
Submit feedback or questions here.
- chicagohousingtrust@cityofchicago.org
- 121 N LaSalle Street Room 1006 Chicago, IL 60602
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