City of Chicago Neighborhood Opportunity Fund

The Neighborhood Opportunity Fund (NOF), administered by the City of Chicago, provides financial assistance to businesses located on the city’s West, Southwest, and South Sides. The fund supports commercial and cultural development along designated eligible and priority commercial corridors. Its goal is to help strengthen local communities by funding capital projects that bring needed goods and services to underserved neighborhoods. Applications are open on a rolling basis and evaluated quarterly. NOF grants reimburse up to 75 percent of eligible project costs, with a maximum award of $250,000. An additional 20 percent may be available for pre-development expenses if the applicant partners with an approved technical assistance provider. Eligible uses of funding include both hard and soft costs tied to construction or renovation, such as site preparation, building systems (e.g., HVAC, electrical, plumbing), and professional services (e.g., architectural and engineering design). Grant disbursements are made either directly to the grantee, their financier, or to contractors through a construction escrow account. To apply, applicants must first confirm that their project address lies within an eligible corridor using the NOF Eligibility Map. Applications are submitted through the City of Chicago’s Submittable portal. Required documentation includes proof of site control, such as a deed, lease, or purchase agreement, and evidence of financing covering at least 50 percent of project costs. While applicants without full financing may still apply, their projects may be placed into the NOF pipeline, where they can receive technical assistance and support for resubmission in a future cycle. Projects must be commercial or cultural in nature and revenue-generating. Examples include restaurants, stores, cafes, theaters, offices, museums, and art galleries. Nonprofit organizations are eligible if the funding supports permanent capital improvements to revenue-generating spaces. Ineligible projects include residential properties, factories, religious institutions without commercial components, and social service providers such as daycares or elder care centers. Applications are assessed based on four primary criteria: catalytic impact, project readiness, financial feasibility, and construction implementation. The Department of Planning and Development (DPD) evaluates each submission and may consult an advisory committee of community leaders before announcing awards. Grant recipients must show 50 percent of project financing within four months of receiving a Conditional Award Letter. All project work reimbursed under the grant must begin after that letter is issued. The current deadline for the next quarterly application review is November 14, 2025, at 11:59 p.m. Central Time. Late applications will be held for review in the subsequent quarter. Applicants are encouraged to attend an information session and engage with local community plans when preparing their proposal. Projects that demonstrate alignment with community needs and show a clear path to implementation are prioritized.

Proof of financing, clear construction plan, and community alignment increase competitiveness.