A Place to Stay, A Path to Stability

A home is more than bricks and mortar — it’s where we find safety, stability, and a sense of belonging. For many, owning a home remains the surest path to building financial security and reaching long-term goals. However, many homeowners on the South and West sides of Chicago are dealing with the confluence of rising costs and aging homes in need of expensive repairs, making it harder to stay in the communities they’ve called home for decades.

To address this challenge, the Trust launched Stay in Place, an initiative focused on preserving homeownership and increasing home equity. It aims to prevent displacement, and help low- and moderate-income Chicagoans living in neighborhoods experiencing both historic underinvestment and rapidly rising costs. In June, the Trust awarded $3.4 million in grants to nonprofits in two pilot neighborhoods — Englewood and Pilsen — that are testing innovative approaches to help neighbors stay in their homes, thereby strengthening their communities.

Stay in Place is also funding research to better understand how homes — the largest source of wealth for most families — are passed from one generation to the next. By supporting experimentation and building knowledge, the initiative is laying the groundwork to help more families across Chicago stay and thrive in all of the places they call home.

“When you help people stay in place, you are building a stronger community.”

MARY ELLEN GUEST
Executive Director
Chicago Bungalow Association

Neighborhood Spotlights

Elevating Englewood

On Chicago’s South Side, Englewood residents take deep pride in a shared sense of identity, history and culture. That legacy is honored through beloved traditions like the Englewood Jazz Festival and the Back 2 School Parade, which dates back to the 1960s. Today, the community is actively leading a new vision for its next chapter — reclaiming vacant land, cultivating urban agriculture, and bringing neighbors together through art. While the impacts of historic underinvestment and other challenges remain, neighbors are actively shaping a vibrant and thriving future for Englewood.

Preserving Homeownership, Block by Block

In a neighborhood where more than 75 percent of residents are over 60, the UnBlocked Englewood initiative is reimagining how home repairs get delivered. Led by the Chicago Bungalow Association and artist Tonika Johnson, this three-year pilot will repair 50 homes on the 6500 block of South Aberdeen and neighboring blocks, exploring whether concentrated investment in home repairs can boost home values, impacting entire neighborhoods.

Helping Pilsen Prosper In Place

Pilsen, on Chicago’s Southwest Side, has long been shaped by the dreams and hard work of immigrants. From the Irish who built the canal connecting the Great Lakes to the Mississippi River, to the Czechs who gave the neighborhood its name, to Polish newcomers and generations of Mexican-American families who created a rich cultural identity through art, commerce and activism, the community reflects the resilience and creativity of those who have called it home. Today, Pilsen is facing rapid gentrification that is shifting demographics and housing affordability, as well as sparking innovative, community-driven approaches to strengthen and preserve the neighborhood.

A Smart Solution for Home-Repair Loans

To help low- and moderate-income residents stay in place, The Resurrection Project is piloting a forgivable loan program to help homeowners make critical repairs without taking on debt. The program offers up to $60,000 for repairs to owner- occupied two-to-four-unit buildings in Pilsen and the Lower West Side. Structured as a zero-interest loan, forgivable after five years in exchange for owners keeping rents stable, the program looks to minimize displacement of financially vulnerable owners and tenants while building stronger, more stable neighborhoods for the long term.