Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Chicago & Midwest  + South Side  + Finance  | 

NOF Grants Will Fund Retail Improvements on South, West and Southwest Sides

The Lightfoot administration recently announced 27 new Neighborhood Opportunity Fund (NOF) grant finalists. A Greater Grand Crossing shared kitchen, a Calumet Heights dance studio and a Humboldt Park juice bar are among the finalists.  

Ranging from $49,000 to $1.7 million and collectively valued at approximately $10 million, the NOF grants will support more than $20 million in retail improvements along 14 commercial corridors on the city’s South, West, and Southwest sides. 

“One of the hardest parts of being an entrepreneur is securing financing for construction costs,” Department of Planning and Development Commissioner Maurice Cox said. “These grants will help overcome those hurdles.” 

The finalists were selected from a spring application period, the first of two submission rounds planned for 2021. A City of Chicago evaluation committee selected the finalists based on proposal completeness, viability, location, applicant experience, neighborhood needs and other factors. 

Connect

Inside The Story

Chicago Planning & Development

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
TaylorStreet-03-Cube