where we work
We target communities losing affordable apartments and the working families who depend on them.
PORTFOLIO
Stability
matters
We are focused on preserving the historic character, stability, and affordability of Chicago’s regional housing stock. From Rogers Park and Albany Park to Brainerd and Beverly, Evanston to Oak Park and Cicero, our preservation strategy is focused on the acquisition of multifamily properties in communities and municipalities that are proximate to economic opportunities.
We read reports from our partners about the sharp increase in demand for affordable rental housing. And we know that every apartment we preserve meets that need and increases resident stability. Our average occupancy rate is 95% over the years, which demonstrates not only the satisfaction of our residents, but the quality of the neighborhoods and properties in which we are invested. Our value is also measured by the rents charged which on average are $200-$300 less than the immediate neighborhood.
The need is greater than ever, which is why we aim to grow our capacity to invest and engage other partners in housing preservation, across the Chicago metropolitan area.
Stories
ALBANY PARK
Changing Precarity into Preservation
In 2013 residents and neighbors in Albany Park worked together to preserve their homes when the buildings’ owners entered the foreclosure process. One of the building’s tenants, Roxanne and Communities United, reached out for assistance in saving her two-bedroom unit, where she had raised her disabled son. We were brought in to see if an acquisition was possible. Able to move quickly with our own capital, we acquired the two-unit building property and secured additional financing to complete the project and make needed improvements. Roxanne was able to continue caring for her son and working her community job through this challenging time. Her son passed away in 2023, but she continues to live in her unit, and continues to volunteer to help other families, like hers, live in dignity and know their rights as tenants. She credits our leadership for caring about people like her and her son, and working with other nonprofit organizations like Communities United, who advocate for affordable housing and community safety. The building is close to transportation and community amenities . While there is more work to do to attract a new grocery store and other amenities, this is home for Roxanne.
OAK PARK
More Opportunity
Located just nine miles west of downtown Chicago, Oak Park is a high opportunity area proximate to large employers, retail amenities, and transportation options. Known for its historic architecture and mix of inclusive housing options, Oak Park has seen new luxury high-rise developments outpace the construction of affordable rental housing. Preservation of existing rental property is essential. In 2024 we acquired a 10-unit multifamily property located in downtown Oak Park. The property was financed with a loan from First National Bank of Brookfield who provided a $1,080,000 flexible first mortgage and J.P. Morgan Chase who provided a $400,000 equity grant. This new investment of equity enabled us to act quickly to acquire and preserve the building. Long-term sustainability is helped by installation of a new roof and high efficiency boiler. Residents also received unit improvements and upgrades to the laundry facilities.
NORTHWEST CHICAGO
A Sunlit Apartment, in a Friendly Neighborhood
“We have a sunroom with all our plants there.” Jenifer Negreros remarks with pride, describing the new growth of flowers in their first floor apartment on Chicago’s Northwest Side. Jenifer, her husband Dennis, and their seven year old son, Mateus have called this apartment their home since 2021. They moved out of a basement unit, with no light, and no space for their son to play.
Jenifer first learned about the apartment through a friend, who had a relative moving out of the unit. She recommended that Jenifer apply for the two bedroom handicapped accessible apartment.
“I have an illness, and it makes it hard to do things.” Jenifer was diagnosed with a neurodegenerative disorder characterized by progressive loss of coordination and balance. The apartment features accessible cabinets, bathroom handrails, and specially designed windows. “The windows are very big, and I am happier because I can see the sunlight.”
In addition to accessible features and large windows, the apartment is in a six-unit building, with a security system and laundry facilities on-site. And a parking space. Not that they need to use the car in the neighborhood. The Negreros are just two blocks from the local public school, a block from public transportation, and within walking distance to grocery stores and different restaurants on Lawrence and Kedzie Avenue.
The stability means a lot to Jenifer, who migrated to the U.S. from Guatemala with her family when she was 19. She and her husband, who is also an immigrant from Guatemala, have lived in the Chicago area for almost 8 years. They wanted to find a safe, affordable neighborhood to raise their son. “Mateus loves his school. Loves having his grandfather walk him to school every day.” Because Jenifer’s father is also nearby, he can help her when Denis is at work, including walking Mateus to Hubbard Elementary School.
“The neighborhood people are very friendly. Lots of dog owners, like us. They even have community messaging if someone needs a person to help walk a dog.”
Since moving into the building, they have gotten to know their neighbors. It is a community where many residents can trace their roots back to other countries. While acknowledging safety was a concern for her the first year in a new building, Jenifer adds, “It is peaceful here.”
What about when something goes wrong? “Repairs are handled promptly; they come the next day. If urgent they come the same day. We have a good relationship with the building manager. We just put a repair request into their website, they come really quickly.”
Asked how long she would like to stay in the apartment, Jenifer smiles, “Oh, as long as we can. We want Mateus to finish school here.”