City of Chicago Neighborhood Opportunity Fund in Illinois

The Neighborhood Opportunity Fund (NOF) is a capital development grant program administered by the City of Chicago’s Department of Planning and Development. The fund is supported by fees paid by downtown construction projects as part of the city's Neighborhood Opportunity Bonus program. NOF aims to reinvest these funds into underserved neighborhoods located along commercial corridors on the West, Southwest, and South Sides of Chicago. It primarily supports small businesses, cultural institutions, and select non-profit organizations that are engaged in projects that provide long-term capital improvements to their properties. The program offers reimbursement grants covering up to 75 percent of eligible project costs, with a maximum award of $250,000 per project. While the NOF is capped at this amount, applicants with larger projects may be eligible for higher funding levels through the city’s Community Development Grant program, which includes medium and large-scale funding tiers. Eligible project types include commercial uses such as offices and retail spaces, cultural venues like museums and theaters, and non-profits with on-site commercial components. The grants can be used for construction, storefront buildouts, facade repairs, HVAC work, roof repairs, and certain acquisition and soft costs such as design or technical assistance. NOF applications are accepted on a rolling basis through the City of Chicago’s Submittable portal but are reviewed quarterly. The next application deadline is November 14, 2025, by 11:59 p.m. Applications submitted after this date will be automatically evaluated in the following review cycle. Prospective applicants are encouraged to confirm project eligibility using the NOF Eligibility Map and are also advised to attend an informational session prior to submission. These sessions are offered live or via recorded video. Eligibility requirements are specific. Applicants must demonstrate site control through documents such as deeds or leases and show proof that at least 50 percent of total project costs are financed at the time of application. While projects without this level of financing may be placed into a pipeline for potential technical assistance, awards will only be finalized once proof of financing is secured. Additionally, all properties must be located along an eligible or priority corridor designated by the city. Evaluation criteria for the NOF program include geographic eligibility, financial readiness, the feasibility of project realization, and community impact. Projects that align with existing community plans or that demonstrate clear benefits to their neighborhoods are viewed favorably. Detailed construction planning and a clearly articulated business plan are important components of a strong application. The NOF team recommends that applicants gather construction bids and consult with contractors before applying. To get started, applicants must create an account on Submittable.com, confirm property eligibility, and upload all required documentation. Inquiries about corridor eligibility should be directed to NOF@CityofChicago.org. Additional resources such as the NOF Program Manual and recordings of prior information sessions are available to assist applicants. The grant does not support residential, manufacturing, or religious-only projects. All applications must be complete and accurate upon submission to be considered for funding in the upcoming quarterly cycle.

Attend an information session, consult contractors for cost estimates, use the eligibility map to confirm location, and prepare financing proof before applying.