Pre-Development Fund

Grant Amount: Between $75,000 – $150,000 (average grant size is $100,000)
Funding Cycle: April and October (project scopes submissions accepted starting in January and July respectively)
Grant Term: 24 months
Grant Type: Project Based
Eligible Geography: Cook County

Background

Brick-and-mortar development is a crucial driver of community wealth, catalyzing economic activity and attracting opportunities for homeownership, asset appreciation, and higher, more stable incomes. However, after decades of underinvestment in majority Black and Latine communities in Chicago, there is growing recognition that traditional economic development approaches are insufficient. In response, The Chicago Community Trust is dedicated to maximizing its impact by funding the implementation of community-driven visions for economic growth that revitalize underinvested neighborhoods, protect residents’ stakes from displacement, and ensure local assets generate lasting benefits for current and future generations. Through its Community Wealth strategy, the Trust envisions a future where community assets—businesses, land, homes, and commercial real estate—sustain and enhance well-being, cohesion, and prosperity in majority Black and Latine communities, ultimately building household wealth and fostering a thriving Chicago region.

The Pre-Development Fund aims to achieve these goals by resourcing neighborhood-scale development projects to deliver assets and amenities aligned with the needs of the community. Examples include the development of a new restaurant or entertainment space in connection with an existing economic development strategy, the development of a grocery store or health hub identified in a community plan, or the redevelopment of a vacant property through a collaborative corridor initiative with other organizations.

With this funding, grant recipients will be able to execute pending predevelopment activities that are critical to the pursuit of additional forms of development capital. The goal of this program is for projects receiving pre-development funding to have the ability to progress through the development process, leading to increased investment and economic activity in disinvested neighborhoods.

Understanding Eligibility

To advance projects that will significantly impact wealth in their neighborhoods, our team will review and evaluate project scope submissions on the following requirements and desirable attributes:

• Located within a historically disinvested neighborhood. Eligible geography is limited to communities within Cook County.
• Established site control (required). Outright site ownership is strongly preferred, but the Pre-Development Fund will accept projects with a clearly defined path to site ownership in the immediate future (e.g., purchase agreement, acquisition letter). Lease agreements are not an accepted form of site control.
• Proximity to infrastructure or amenities. Specifically, within a half mile of transit, an economic corridor, community hub, and other physical space that promotes economic activity and pedestrian traffic. Projects capitalizing on upcoming developments will also be considered.
• Alignment with community-driven visions for economic growth. Preferably, delivering an amenity or asset that meets a specific development need outlined in an existing community plan or economic strategy.
• Neighborhood scale (required). Projects should be small to medium-sized and fit within the context of the existing neighborhood. Successful applicants will be able to detail how the development will both complement and be amplified by an existing economic environment.
• Community endorsements (preferred). For example,letters of support from civic leaders, government stakeholders, neighborhood development organizations leading economic development efforts, and community leaders. These endorsements are important to supporting the project’s alignment with community-driven visions for growth.
• 501(c)(3) or have a fiscal sponsor (required). Grant funding is required to go to a 501(c)(3) organization. For-profit entities are required to use a fiscal sponsor. 501(c)(6) organizations are also eligible for direct funding.

PLEASE NOTE: Projects that are exclusively for single-family housing, charter schools, supportive housing, or other critical needs and uses are not eligible for pre-development funding.

Qualified Expenses

The Pre-Development Fund is for projects at the pre-development stage of the development process. Activities in this stage usually include design, development and financial due diligence, or early-stage project management. Activities that fall in the planning or construction stages will not be eligible.

Examples of qualified expenses include:

• Architect and engineering services (planning, conceptual design, schematic design, or structural testing)
• Other consultants (e.g., development consultants, owner’s representatives)
• Environmental expenses (e.g., Phases I/II, hazardous materials survey, remediation plans)
• Legal expenses (e.g., zoning, finance, acquisition)
• Market studies to confirm real estate use
• Site development project manager (third-party cost only)
• Third-party community engagement and planning (feedback and input related to the project site)
• Fiscal sponsorship fees

PLEASE NOTE: Property acquisition expenses may be eligible for funding on a case-by-case basis. Projects seeking funding exclusively for acquisition expenses will not be considered.

Submitting for Consideration

How to Apply

The Trust awards grants to organizations whose work is consistent with our mission and our current priorities. Learn about the application process and eligibility.

How to Apply

What We Fund

Our grants are not just checks, not just points on a map. Our grants are lifelines, connecting individual donors with people and families striving for a better life.

What We Fund