3C Community Profile: Humboldt Park
Take a stroll down the Paseo Boricua corridor on Division Street and it’s easy to see why Humboldt Park is one of Chicago’s most vibrant…
Grants
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Our Grantmaking Strategy
For more than 100 years, The Chicago Community Trust has convened, supported, funded, and accelerated the work of community members and changemakers committed to strengthening the Chicago region. From building up our civic infrastructure to spearheading our response to the Great Recession, the Trust has brought our community together to face pressing challenges and seize our greatest opportunities. Today, that means confronting the racial and ethnic wealth gap.
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Grant Recipient
E. G. Woode, L3C
A capital request in the amount of $500,000 to support the renovation of an existing 9000 SF building on the 63rd Street Corridor in Englewood to launch a food hub. The $7.1M food hub will house emerging food entrepreneurs from Englewood, providing access to two new, sit-down restaurants and a training kitchen for aspiring food entrepreneurs to prepare for their launch. The Project Developer is E.G. Woode, L3C, a minority-led company. EG Woode, has assembled an experienced development team comprised of Teresa Prim, of Prim Lawrence Group Company, a real estate development consulting firm, Applegate Thorne Thomsen has been retained as legal counsel. Beehyyve, a local minority-owned architecture firm, has been retained to provide architectural services. PAC Construction, a minority-owned general contractor, has been selected to provide general contracting services. EG Woode has site control, the property was purchased from the Cook County Land Bank Authority. Capital has been secured financing commitments to complete the project which includes: the City of Chicago TIF (5,000,000), State of Illinois REBUILD (1,164,683), Community Desk (90,000), LISC permanent mortgage of $214,982, $20,000 in Owners’ Equity, and 150,000 in deferred developer fees. LISC is providing construction bridge loan financing in the amount of $3,495,320, note commitment letter forthcoming. All project site due diligence has been completed, i.e., Construction documents have been submitted for building permit, Phase I, Asbestos/Lead Reports, etc. The project is ready to proceed, and the goal is to close on all financing in January 2024 and commence construction in February of 2024. See Evidence of Financing Commitments Attached.
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Grant Recipient
Chicago Community Foundation
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Grant Recipient
Chicago Community Foundation